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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Palmyra, VA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Palmyra, VA Housing Market Trends

With 127 people, 34 houses or apartments, and a median cost of homes of $317,064, Palmyra real estate prices are well above average cost compared to national prices.

Palmyra is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Palmyra than is found in 98% of the communities in America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Palmyra's housing was primarily built during this period, from the '40s through the '60s. A full 100.00% of the town's housing hails from this era. Other housing ages represented in Palmyra include homes built between 1970-1999 ( 0.00%) and housing constructed between 2000 and later ( 0.00%).

Palmyra Home Appreciation Rates

Palmyra's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palmyra during the period has been just 5.43%, which is lower than 70% of US communities.

Over the last year, Palmyra appreciation rates have trailed the rest of the nation. In the last twelve months, Palmyra's appreciation rate has been 5.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmyra were at 2.73%, which equates to an annual appreciation rate of 11.37%.

Relative to Virginia, our data show that Palmyra's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

Average Home Values

Median Home Value

$317,064

Palmyra, VA Home Prices
> $1,310,000
$983,001 - $1,310,000
$655,001 - $983,000
$524,001 - $655,000
$393,001 - $524,000
$262,001 - $393,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
0.7%
0.7%
1.2%
1.2%
4.3%
4.3%
8.8%
8.8%
15.0%
15.0%
39.2%
39.2%
20.5%
20.5%
5.2%
5.2%
5.0%
5.0%
0% 100.0%
% of Homes
Average

for Virginia

High

for nation

Number of Homes And Apartments:

34

Palmyra Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,057 / per month

Homeownership Rate

Owners
Renters
100.0%
100.0%
0.0%
0.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
0.0%
0.0%
100.0%
100.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
0.0%
0.0%
0.0%
0.0%
100.0%
100.0%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
100.0%
100.0%
0.0%
0.0%
0% 100.0%
% of Homes

Popular Neighborhoods in Palmyra

Zip Codes in Palmyra, VA