At $1,208/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,208 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($64,983) is $1,625 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,570).
From Zillow's monthly rent index (ZORI) for Palmyra. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Palmyra, NY is roughly split between renters and owners, has a median income below the national average, 25.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Palmyra, NY has changed in 5 years
Median household income slipped from $65,521 to $64,983 between 2021 and 2024, a 0.8% shift. The population has contracted by 1.2% since 2021, moving from about 3,326 residents to roughly 3,287. Renters now make up 50% of households, compared with 45.2% five years ago.
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Can you afford rent in Palmyra on your salary?
At $1,208/mo, how Palmyra rent compares to typical pay (30% rule).
Palmyra rent by bedroom count
Median rent for each apartment size in Palmyra. Click any size for full breakdown.
Tips for renters in Palmyra
Last updated: September 25, 2026
The median rent in Palmyra is $1,208/mo as of September 2026. A studio apartment averages $850/mo while a 2-bedroom runs $1,180/mo. One-bedroom apartments average $950/mo and 3-bedroom units go for $1,430/mo.
At 22% of local median household income ($64,983/yr), Palmyra ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Palmyra?
Is rent going up or down in Palmyra?
How does Palmyra rent compare to other cities in New York?
At $1,208/mo, rent takes ~22% of Palmyra's median household income ($64,983/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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