Palmyra, IL
Population 524 · Illinois
About Palmyra, IL
Palmyra is a small community in Illinois with a population of 524 residents. The median household income is $46,477 per year, which is below the national average. The median age in Palmyra is 50.4 years.
Housing in Palmyra has a median home value of $86,400 and median monthly rent of $670. Of the 339 total housing units, the majority are owner-occupied, with 199 owner-occupied and 46 renter-occupied units.
The unemployment rate in Palmyra is 7.9% and the poverty rate is 8.6%. 10.6% of residents hold a bachelor's degree or higher. The average commute time is 42.5 minutes.
Cost of Living in Palmyra, IL
Compared to national averages, Palmyra has a median household income of $46,477 (38% below the national median of $75,149). Home values average $86,400, which is 65% below the national median. Monthly rent at $670 is 42% below the US average of $1,163. Within Illinois, Palmyra's income is 38% below the state average of $75,072, and home values are 48% below the state median of $165,779.
Why Live in Palmyra, IL?
Palmyra offers affordable housing with a median home value of $86,400, below the US average of $244,900, and rent that’s lower than the national average at $670/month, and a low poverty rate of 8.6%, better than the national average.
Potential considerations include median household income ($46,477) that falls below the national average. However, Palmyra’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palmyra has a population of 524 with a median age of 50.4 years. Compare Palmyra with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Palmyra
What is the population of Palmyra, IL?
The population of Palmyra, IL is 524 according to the latest Census data.
What is the median household income in Palmyra?
The median household income in Palmyra, IL is $46,477 per year.
What is the median home value in Palmyra?
The median home value in Palmyra, IL is $86,400.
What is the average rent in Palmyra?
The median monthly rent in Palmyra, IL is $670.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra, IL is 7.9%.