Palmer Lake, CO
Population 2,635 · Colorado
About Palmer Lake, CO
Palmer Lake is a small town located in Colorado with a population of 2,635 residents according to the latest US Census Bureau American Community Survey data. The median household income is $122,855 per year, which is 63% above the national median of $75,149. The median age of 49.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Palmer Lake features a median home value of $454,000, which is 85% above the national median of $244,900. This places Palmer Lake in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,913, 64% above the national average of $1,163/month. Of the 1,122 total housing units, 88% are owner-occupied (936 units) and 12% are renter-occupied (125 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmer Lake shows an unemployment rate of 6.5%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 3.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palmer Lake have an average one-way commute time of 27.3 minutes.
Education & Demographics
46.3% of Palmer Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 8.8% White, 0.2% Hispanic or Latino, 1.3% Black or African American, and 1.5% Asian residents, with 8.3% of the population being foreign-born.
Cost of Living in Palmer Lake, CO
Compared to national averages, Palmer Lake has a median household income of $122,855 (63% above the national median of $75,149). Home values average $454,000, which is 85% above the national median. Monthly rent at $1,913 is 64% above the US average of $1,163. Within Colorado, Palmer Lake's income is 39% above the state average of $88,514, and home values are 1% below the state median of $457,127.
Why Live in Palmer Lake, CO?
Palmer Lake offers a strong local economy with a median household income of $122,855, well above the national average, and a well-educated community where 46.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.4%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $454,000. However, Palmer Lake’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palmer Lake has a population of 2,635 with a median age of 49.4 years. Compare Palmer Lake with other cities to see how it stacks up, or explore all cities in Colorado.
Similar Cities Near Palmer Lake
Cities in Colorado with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Leadville | 2,634 | $83,875 | $374,700 | Compare |
| Holly Hills | 2,652 | $127,989 | $637,100 | Compare |
| Telluride | 2,595 | $97,330 | $390,300 | Compare |
| Palisade | 2,580 | $61,655 | $295,200 | Compare |
| Rangely | 2,572 | $75,044 | $192,200 | Compare |
| Acres Green | 2,709 | $115,536 | $540,000 | Compare |
| Park Center | 2,544 | $68,882 | $337,800 | Compare |
| Sterling Ranch | 2,530 | $198,750 | $794,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Colorado
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palmer Lake With Other Cities
Frequently Asked Questions about Palmer Lake
What is the population of Palmer Lake, CO?
The population of Palmer Lake, CO is 2,635 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Colorado.
What is the median household income in Palmer Lake?
The median household income in Palmer Lake, CO is $122,855 per year, which is 63% above the national median of $75,149.
What is the median home value in Palmer Lake?
The median home value in Palmer Lake, CO is $454,000, which is 85% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palmer Lake?
The median monthly rent in Palmer Lake, CO is $1,913, which is 64% above the national average of $1,163/month.
What is the unemployment rate in Palmer Lake?
The unemployment rate in Palmer Lake, CO is 6.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palmer Lake, CO a good place to live?
Palmer Lake offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 2,635 and a median age of 49.4, the city appeals to established professionals and retirees.
How educated is Palmer Lake, CO?
46.3% of residents in Palmer Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Palmer Lake?
Key cost-of-living indicators for Palmer Lake, CO: median home value is $454,000 (85% above national), median rent is $1,913/month, and median household income is $122,855. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Palmer Lake?
The poverty rate in Palmer Lake, CO is 3.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palmer Lake, CO?
Palmer Lake's population is 8.8% White, 0.2% Hispanic or Latino, 1.3% Black or African American, 1.5% Asian, and 1.1% two or more races. 8.3% of residents are foreign-born.