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City Report · PA

Palmyra

Pop. 7,755·88th most expensive in Pennsylvania·Rental market data updated monthly for Palmyra, PA
Median rent (all units)
$1,578/mo
Year-over-Year
Stable
Month-over-Month
+2.9%
vs US Median
-$387
Rising (Monthly)
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Most AffordableMost Expensive
Palmyra · $1,578
More affordable than 71% of US cities · National median $1,965/mo
Affordability
24% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,578/mo, rent takes about 24% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$63,000/yr
Local median income
$77,469/yr
Based on the 30%-of-income rule using Palmyra's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,060
1 BR
$1,170
2 BR
$1,480
3 BR
$1,880
4 BR+
$1,990
Research median
$1,480/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,936/yr
At $1,578/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.0% YoY, +2.9% MoM), not inventory.
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Demographics

Who lives here

Palmyra, PA is majority owner-occupied, 29.5% of residents hold a bachelor's degree or higher.

Population
7,755
Median income
$77,469
Median age
34.1
Renters
42%
Age distribution
23%
28.3%
21.1%
17.2%
Under 1823%
18–3428.3%
35–5421.1%
55–6410.4%
65+17.2%
Gender
44.1%
55.9%
Male44.1%
Female55.9%
Race & ethnicity
79.3%
13.9%
White79.3%
Black1.3%
Hispanic13.9%
Asian2%
Other3.5%
Education (25+)
36.5%
27.3%
29.5%
No HS diploma6.7%
HS diploma36.5%
Some college27.3%
Bachelor's+29.5%
Housing tenure
58%
42%
Owner58%
Renter42%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Palmyra, PA has changed in 5 years

Income
$56,124 → $77,469
up 38.0%
Population
7,750 → 7,755
up 0.1%
Renter share
51.3% → 42%
-9.3 pts
Bachelor's+
23.7% → 29.5%
+5.8 pts

On the earnings side, the typical household in Palmyra, PA now reports about $77,469, up from $56,124 in 2021. About 42% of households rent today, against 51.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 23.7% to 29.5%.

Community

Discussions about Palmyra

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View Palmyra rent history (2015–2026) →
Salary vs rent

Can you afford rent in Palmyra on your salary?

At $1,578/mo, how Palmyra rent compares to typical pay (30% rule).

By apartment size

Palmyra rent by bedroom count

Median rent for each apartment size in Palmyra. Click any size for full breakdown.

Local insights

Tips for renters in Palmyra

About renting in Palmyra, PA

Last updated: July 20, 2026

The median rent in Palmyra is $1,578/mo as of July 2026. A studio apartment averages $1,060/mo while a 2-bedroom runs $1,480/mo. One-bedroom apartments average $1,170/mo and 3-bedroom units go for $1,880/mo.

At 24% of local median household income ($77,469/yr), Palmyra ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Palmyra an affordable city for renters?

Palmyra is considered very affordable for renters. At $1,578/mo, rent takes approximately 24% of the local median household income ($77,469/yr). The standard benchmark is 30%. Palmyra falls comfortably within that range.

How much income do you need to rent in Palmyra?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (~$30/hour full-time) to afford the median rent of $1,578/mo in Palmyra. The local median household income is $77,469/yr, meaning the typical Palmyra household meets that threshold.

Is rent going up or down in Palmyra?

Rent in Palmyra has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Palmyra rent compare to other cities in Pennsylvania?

Palmyra is middle-of-the-pack for Pennsylvania for rent, ranking #88 out of 167 tracked cities at $1,578/mo.

Which nearby cities are cheaper to rent in than Palmyra?

Several nearby cities have lower median rents than Palmyra ($1,578/mo): Middletown ($1,322/mo), Lebanon ($1,348/mo), Elizabethtown ($1,416/mo).

What percentage of Palmyra residents rent vs. own?

According to Census data, approximately 42% of Palmyra households are renters, while 58% are owner-occupied. Palmyra leans toward homeownership, which can mean a smaller rental inventory.

How does Palmyra rent compare to the national average?

Palmyra's median rent of $1,578/mo is $387 (20%) below the US national median of $1,965/mo. Within Pennsylvania, it ranks #88 out of 167 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $1,578/mo, rent takes ~24% of Palmyra's median household income ($77,469/yr). The standard benchmark is 30%.

Palmyra 24%Benchmark 30%
State income tax3.07%
Run the Palmyra affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Palmyra, PA

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