Cost of Living in Palmyra, NJ
Population 7,447 · New Jersey · Data vintage 2023
(100 = US avg)
Palmyra offers a notably favorable income-to-housing ratio for its region. The typical home — $217,000 — costs less than 2.5 times median household income of $85,014, a threshold many coastal markets passed a decade ago.
Geographically, Palmyra sits roughly 5 miles east of Philadelphia. Housing prices track closely with Philadelphia's $232,000 median.
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 $216,600 — 29% below the national median of $305,000. Median rent runs $1,680/month, 28% higher than the national median of $1,314/month. The median household income of $85,014/year is 14% higher than the US median of $74,580. The local unemployment rate is 5.7%, above the national average of 4.8%. New Jersey's top state income tax rate is 10.8% and the combined sales tax is 6.6%. The climate averages highs of 65.6°F and lows of 47.2°F. Overall, Palmyra has a cost of living index of 94 versus the US average of 100, meaning it is 6% 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
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 42 | 45 | 53 | 65 | 75 | 83 | 88 | 86 | 79 | 68 | 57 | 47 |
| Low °F | 27 | 28 | 35 | 44 | 54 | 64 | 69 | 68 | 60 | 48 | 38 | 31 |
| Precip" | 3.34 | 2.57 | 3.96 | 3.77 | 3.61 | 3.87 | 4.32 | 4.22 | 4.52 | 3.63 | 3.19 | 4.00 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Palmyra, NJ?
Palmyra has a cost index of 94 (100 = national average). It is 6% below the national average.
What is average rent in Palmyra, NJ?
The median gross rent in Palmyra is $1,680 per month based on 2023 Census data.
What is the average home price in Palmyra?
The median home value in Palmyra is $216,600 according to Zillow and Census data.
What is the median income in Palmyra?
The median household income in Palmyra is $85,014 per year (2023 ACS 5-year estimates).
What is the sales tax in Palmyra, NJ?
The combined state and local sales tax rate in Palmyra is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Palmyra, NJ affordable?
Palmyra is near the national average in terms of cost of living, with an index of 94 (100 = US average).
What is the weather like in Palmyra?
Palmyra has average high temperatures of 65.6°F and average lows of 47.2°F. Annual precipitation is 45". Data from NOAA 1991–2020 Climate Normals.
Palmyra at a Glance
- Population
- 7,447
- Median Income
- $85,014
- Home Value
- $216,600
- Median Rent
- $1,680/mo
- Unemployment
- 5.7%
- Avg High Temp
- 65.6°F
- Sales Tax
- 6.6%
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Explore county-level cost of living data
New Jersey Rankings
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