How much does it cost to rent in Palmyra, VA?

As of July 2026, the median monthly rent in Palmyra, VA is $2,089. This figure is based on aggregated data from public sources and community-submitted rents.

Is Palmyra cheaper than other Virginia cities?

Palmyra falls in the middle range for Virginia, ranking #42 out of 83 cities at $2,089/mo.

When was Palmyra rent data last updated?

Palmyra rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · VA

Palmyra

Name: Average Rent Prices in Palmyra, VA
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 171·42nd most expensive in Virginia·Rental market data updated monthly for Palmyra, VA

Median rent (all units)

$2,089/mo

Year-over-Year

Stable

Month-over-Month

+7.7%

vs US Median

+$124

Rising (Monthly)

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Most AffordableMost Expensive

Palmyra · $2,089

More expensive than 64% of US cities · National median $1,965/mo

Affordability

35% of income

MODERATE

0%30% benchmark60%+

At $2,089/mo, rent takes about 35% of the US median household income, slightly above the 30% benchmark.

Income to afford

$84,000/yr

US median income

$72,000/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

$1,600

1 BR

$1,690

2 BR

$1,970

3 BR

$2,460

4 BR+

$2,990

Research median

$1,970/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

$25,068/yr

At $2,089/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+0.0% YoY, +7.7% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Palmyra, VA is majority owner-occupied, has a large share of families with children, 54.9% of residents hold a bachelor's degree or higher.

Population

171

Median age

12.6

Age distribution

58.5%

33.9%

Under 1858.5%

35–5433.9%

55–647.6%

Gender

52.6%

47.4%

Male52.6%

Female47.4%

Race & ethnicity

60.8%

39.2%

White60.8%

Hispanic39.2%

Education (25+)

32.4%

12.7%

54.9%

No HS diploma32.4%

Some college12.7%

Bachelor's+54.9%

Housing tenure

100%

Owner100%

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

2021 vs 2026

How Palmyra, VA has changed in 5 years

Population

96 → 171

up 78.1%

Renter share

0% → 0%

+0.0 pts

Bachelor's+

43.9% → 54.9%

+11.0 pts

Median age

55.3 → 12.6

-42.7 yrs

Headcount in the area went from 96 to 171 between 2021 and 2024, a 78.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 43.9% to 54.9%.

Community

Discussions about Palmyra

No discussions yet. Start the conversation.

View Palmyra rent history (2015–2026) →

Salary vs rent

Can you afford rent in Palmyra on your salary?

At $2,089/mo, how Palmyra rent compares to typical pay (30% rule).

Registered Nurse

Avg $96,370/yr · Rent = 26% income

affordable

Elementary School Teacher

Avg $68,422/yr · Rent = 36.6% income

stretched

Police Officer

Avg $78,815/yr · Rent = 31.8% income

stretched

Software Developer

Avg $140,872/yr · Rent = 17.8% income

very comfortable

Lawyer

Avg $179,999/yr · Rent = 13.9% income

very comfortable

Firefighter

Avg $64,066/yr · Rent = 39.1% income

stretched

Truck Driver

Avg $57,844/yr · Rent = 43.3% income

rent-burdened

Electrician

Avg $71,298/yr · Rent = 35.2% income

stretched

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, VA

Last updated: July 20, 2026

The median rent in Palmyra is $2,089/mo as of July 2026. A studio apartment averages $1,600/mo while a 2-bedroom runs $1,970/mo. One-bedroom apartments average $1,690/mo and 3-bedroom units go for $2,460/mo.

At 35% of estimated US median household income ($72,000/yr), Palmyra ranks as moderate 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 moderate for renters. At $2,089/mo, rent takes approximately 35% of the US median household income ($72,000/yr). The standard benchmark is 30%. Palmyra slightly exceeds that threshold, so budgeting carefully matters here.

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 $84,000/year (~$40/hour full-time) to afford the median rent of $2,089/mo in Palmyra.

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 Virginia?

Palmyra is middle-of-the-pack for Virginia for rent, ranking #42 out of 83 tracked cities at $2,089/mo.

Which nearby cities are cheaper to rent in than Palmyra?

Several nearby cities have lower median rents than Palmyra ($2,089/mo): Farmville ($1,291/mo), Waynesboro ($1,602/mo), Powhatan ($1,835/mo).

How does Palmyra rent compare to the national average?

Palmyra's median rent of $2,089/mo is $124 (6%) above the US national median of $1,965/mo. Within Virginia, it ranks #42 out of 83 tracked cities.

Income Affordability

35%

MODERATE

At $2,089/mo, rent takes ~35% of US median household income ($72,000/yr). The standard benchmark is 30%.

Palmyra 35%Benchmark 30%

State income tax2–5.75%

Run the Palmyra affordability calculator →

Nearby cities