Palmer, MI
Population 342 · Michigan
About Palmer, MI
Palmer is a small community located in Michigan with a population of 342 residents according to the latest US Census Bureau American Community Survey data. The median household income is $64,000 per year, which is 15% below the national median of $75,149. The median age of 39 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Palmer features a median home value of $74,700, which is 69% 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 169 total housing units, 92% are owner-occupied (130 units) and 8% are renter-occupied (12 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmer shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 3.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palmer have an average one-way commute time of 29.6 minutes.
Education & Demographics
14.8% 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, 5.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Palmer Ranks in Michigan
Cost of Living in Palmer, MI
Compared to national averages, Palmer has a median household income of $64,000 (15% below the national median of $75,149). Home values average $74,700, which is 69% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Michigan, Palmer's income is 3% below the state average of $66,017, and home values are 59% below the state median of $183,391.
Why Live in Palmer, MI?
Palmer offers affordable housing with a median home value of $74,700, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a low poverty rate of 3.5%, better than the national average.
Potential considerations include median household income ($64,000) 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 342 with a median age of 39 years. Compare Palmer with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Palmer
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Dowling | 344 | $84,167 | $235,200 | Compare |
| Horton Bay | 352 | $76,833 | $275,000 | Compare |
| Prescott | 352 | $55,673 | $71,100 | Compare |
| Painesdale | 353 | $62,436 | $84,800 | Compare |
| Zeba | 353 | $42,500 | $97,000 | Compare |
| Henderson | 330 | $83,571 | $212,500 | Compare |
| Rosebush | 330 | $32,404 | $102,600 | Compare |
| Canada Creek Ranch | 328 | $72,991 | $177,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palmer With Other Cities
Frequently Asked Questions about Palmer
What is the population of Palmer, MI?
The population of Palmer, MI is 342 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in Palmer?
The median household income in Palmer, MI is $64,000 per year, which is 15% below the national median of $75,149.
What is the median home value in Palmer?
The median home value in Palmer, MI is $74,700, which is 69% 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, MI 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, MI is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palmer, MI a good place to live?
Palmer offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 342 and a median age of 39, the city appeals to a broad range of residents.
How educated is Palmer, MI?
14.8% 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, MI: median home value is $74,700 (69% below national), median rent is $0/month, and median household income is $64,000. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Palmer?
The poverty rate in Palmer, MI is 3.5%, 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, MI?
Palmer's population is 0.0% White, 5.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.