Cost of Living in Palmyra, IN
Housing
The housing market plays a significant role in determining the cost of living in Palmyra, IN.
- Housing Index: 91.1 / 100
- Median Home Price is: $167,400
- Average Rent (2 BR Apartment): $1317 per month
- Average Rent (2 BR House): $1431 per month
Analyzing the real estate market in Palmyra, IN, we find a housing index of 91.1, indicating a relatively affordable market for potential buyers and renters. The median home price of 167400 is appealing compared to national averages, making home ownership more accessible. Additionally, average rents for a 2-bedroom apartment and house at 1317 and 1431 respectively offer competitive options for renters. Overall, if you’re considering relocation, Palmyra presents an economically viable choice for both living arrangements, fostering a stable investment in housing.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Palmyra, IN.
- Electricity Price: $14.89 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $233 per month
Living in Palmyra, IN could entail higher utility costs. Electricity costs sit at $14.89, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $233 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Palmyra is a financially viable option for your relocation.