Cost of Living in Palmyra, MO
Population 3,620 · Missouri · Data vintage 2023
(100 = US avg)
Housing costs in Palmyra stay well under national norms: a median home value of $165,000 against median household incomes of $69,211 gives the city one of the more comfortable price-to-income ratios in Missouri. An unemployment rate of 2.3% points to a labor market well on the tight side of the national distribution.
Geographically, Palmyra is about 75 miles northeast of Columbia, the nearest large metro. Median home values run roughly 39% lower than Columbia's $268,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Palmyra
The median home value in Palmyra is $165,000 — 46% below the national median of $305,000. Median rent runs $852/month, 35% lower than the national median of $1,314/month. The median household income of $69,211/year is 7% lower than the US median of $74,580. The local unemployment rate is 2.3%, below the national average of 4.8%. Missouri's top state income tax rate is 5.0% and the combined sales tax is 8.4%. Overall, Palmyra has a cost of living index of 58 versus the US average of 100, meaning it is 42% less expensive.
Palmyra has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Palmyra, MO?
Palmyra has a cost index of 58 (100 = national average). It is 42% below the national average.
What is average rent in Palmyra, MO?
The median gross rent in Palmyra is $852 per month based on 2023 Census data.
What is the average home price in Palmyra?
The median home value in Palmyra is $165,000 according to Zillow and Census data.
What is the median income in Palmyra?
The median household income in Palmyra is $69,211 per year (2023 ACS 5-year estimates).
What is the sales tax in Palmyra, MO?
The combined state and local sales tax rate in Palmyra is 8.4%. The Missouri state income tax top rate is 5.0%.
Is Palmyra, MO affordable?
Yes, Palmyra is generally considered affordable, with a cost of living index of 58 — about 42% below the US national average of 100.
Palmyra at a Glance
- Population
- 3,620
- Median Income
- $69,211
- Home Value
- $165,000
- Median Rent
- $852/mo
- Unemployment
- 2.3%
- Sales Tax
- 8.4%
Nearby Cities
Explore county-level cost of living data
Missouri Rankings
Similar Cost Cities
Cities in other states with comparable housing costs