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Palmyra

Learn about the people, housing, costs and businesses in Palmyra, Utah

Median Home$575,700
Median Rent$1,622/month
Population429
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare5% professional services
Home Value Growth⬆⬆⬆+56.9% over 2 years
Young Adults30% of residentsabove average nationally
Renters52% of occupied units
NotableTransit91/100 · excellent transit access
NotableHighly Educated36% bachelor's · 14% graduate · top 3% nationally
Palmyra
UT

Frequently Asked Questions

What are today's mortgage rates in Palmyra?

As of today, the 30-year fixed mortgage rate for Palmyra is approximately 6.818% (6.851% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Palmyra?

The median home value in Palmyra is $576k. The median monthly rent is $1,622. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Palmyra?

Home values in Palmyra have increased 56.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Palmyra?

Based on a typical all-in ownership cost of $1,566/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $67k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Palmyra is $82k/year.

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What industries drive the economy in Palmyra?

The largest employment sectors in Palmyra are public administration (20%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.