Palmyra, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Palmyra Neighborhoods Since 2000




Palmyra, PA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palmyra Housing Market Information

With a population of 7,451, 3,323 total housing units (homes and apartments), and a median house value of $165,255, Palmyra real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Palmyra, accounting for 42.18% of the borough's housing units. Other types of housing that are prevalent in Palmyra include row houses and other attached homes ( 22.48%), duplexes, homes converted to apartments or other small apartment buildings ( 19.30%), and a few large apartment complexes or high rise apartments ( 11.59%).

The most prevalent building size and type in Palmyra are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 50.79% owning and 49.21% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Palmyra's housing was primarily built during this period, from the '40s through the '60s. A full 50.04% of the borough's housing hails from this era. Other housing ages represented in Palmyra include homes built before 1939 ( 24.04%) and housing constructed between 1970-1999 ( 21.29%). There's also some housing in Palmyra built between 2000 and later ( 4.62%).

Palmyra Home Appreciation Rates

Real estate appreciation rates in Palmyra's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.05% during the period.

Appreciation rates are so strong in Palmyra that despite a nationwide downturn in the housing market, Palmyra real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palmyra appreciation rates continue to be some of the highest in America, at 6.81%, which is higher than appreciation rates in 80.02% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Palmyra. Palmyra appreciation rates in the latest quarter were at -0.47%, which equates to an annual appreciation rate of -1.85%.

Relative to Pennsylvania, our data show that Palmyra's latest annual appreciation rate is higher than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$165,255

Palmyra, PA HOME PRICES

Value Range
> $1,061,000 0.0
$796,001 - $1,061,000 0.0
$530,001 - $796,000 0.0
$424,001 - $530,000 0.4
$318,001 - $424,000 1.4
$212,001 - $318,000 13.7
$106,001 - $212,000 67.3
$53,001 - $106,000 14.3
$0 - $53,000 2.9

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
43.5544357201453 36.0386473429952

Number Of Homes And Apartments:
3,323

Palmyra Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
39.94% 1.97% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$993 / per month

Homeownership Rate

Homeownership
Owners 50.79
Renters 49.21
Vacant 3.99

Housing Market Details

 

Age of Homes

AGE OF Palmyra HOMES
2000 or Newer 4.6
1970 - 1999 21.3
1940 - 1969 50.0
1939 or Older 24.0

Types of Homes

TYPE OF Palmyra HOMES
Single-Family 42.2
Townhomes 22.5
Small Apt. Buildings 19.3
Apt. Complexes 11.6
Mobile Homes 4.4
Other 0.0

Home Size

SIZE OF Palmyra HOMES
No Bedroom 2.63
1 Bedroom 14.85
2 Bedrooms 28.92
3 Bedrooms 38.80
4 Bedrooms 12.86
5 or more bedrooms 1.94