Palmer, IA
Population 114 · Iowa
About Palmer, IA
Palmer is a small community located in Iowa with a population of 114 residents according to the latest US Census Bureau American Community Survey data. The median household income is $60,625 per year, which is 19% below the national median of $75,149. The median age of 52.8 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 features a median home value of $36,500, which is 85% below the national median of $244,900. This makes Palmer one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 106 total housing units, 92% are owner-occupied (72 units) and 8% are renter-occupied (6 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmer shows an unemployment rate of 3.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 31.6%, above the national average of 12.4%. Workers in Palmer have an average one-way commute time of 27 minutes.
Education & Demographics
12.0% of Palmer residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 1.8% Asian residents, with 1.8% of the population being foreign-born.
How Palmer Ranks in Iowa
Cost of Living in Palmer, IA
Compared to national averages, Palmer has a median household income of $60,625 (19% below the national median of $75,149). Home values average $36,500, which is 85% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Iowa, Palmer's income is 11% below the state average of $67,947, and home values are 72% below the state median of $132,237.
Why Live in Palmer, IA?
Palmer offers affordable housing with a median home value of $36,500, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 3.6%.
Potential considerations include median household income ($60,625) that falls below the national average. However, Palmer’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palmer has a population of 114 with a median age of 52.8 years. Compare Palmer with other cities to see how it stacks up, or explore all cities in Iowa.
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Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Palmer
What is the population of Palmer, IA?
The population of Palmer, IA is 114 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Palmer?
The median household income in Palmer, IA is $60,625 per year, which is 19% below the national median of $75,149.
What is the median home value in Palmer?
The median home value in Palmer, IA is $36,500, which is 85% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palmer?
The median monthly rent in Palmer, IA is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Palmer?
The unemployment rate in Palmer, IA is 3.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Palmer, IA a good place to live?
Palmer offers a moderate cost of living, affordable housing, and a strong job market. With a population of 114 and a median age of 52.8, the city appeals to established professionals and retirees.
How educated is Palmer, IA?
12.0% of residents in Palmer aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Palmer?
Key cost-of-living indicators for Palmer, IA: median home value is $36,500 (85% below national), median rent is $0/month, and median household income is $60,625. The home-value-to-income ratio is 0.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Palmer?
The poverty rate in Palmer, IA is 31.6%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Palmer, IA?
Palmer's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 1.8% Asian, and 1.8% two or more races. 1.8% of residents are foreign-born.