Palmyra, NE
Population 642 · Nebraska
About Palmyra, NE
Palmyra is a small community located in Nebraska with a population of 642 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,458 per year, which is 8% above the national median of $75,149. The median age of 31.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Palmyra features a median home value of $160,900, which is 34% below the national median of $244,900. This positions Palmyra in a moderately priced market relative to the rest of the country. Median monthly rent is $1,143, 2% below the national average of $1,163/month. Of the 271 total housing units, 93% are owner-occupied (220 units) and 7% are renter-occupied (17 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmyra shows an unemployment rate of 4.0%, which is near the national rate of 3.7%. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palmyra have an average one-way commute time of 30.3 minutes.
Education & Demographics
10.1% of Palmyra 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 6.1% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 2.2% of the population being foreign-born.
Cost of Living in Palmyra, NE
Compared to national averages, Palmyra has a median household income of $81,458 (8% above the national median of $75,149). Home values average $160,900, which is 34% below the national median. Monthly rent at $1,143 is 2% below the US average of $1,163. Within Nebraska, Palmyra's income is 24% above the state average of $65,895, and home values are 28% above the state median of $125,824.
Why Live in Palmyra, NE?
Palmyra offers a strong local economy with a median household income of $81,458, well above the national average, and affordable housing with a median home value of $160,900, below the US average of $244,900, and rent that’s lower than the national average at $1,143/month. Additionally, the city features a low poverty rate of 6.7%, better than the national average.
Palmyra has a population of 642 with a median age of 31.7 years. Compare Palmyra with other cities to see how it stacks up, or explore all cities in Nebraska.
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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, NE?
The population of Palmyra, NE is 642 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Nebraska.
What is the median household income in Palmyra?
The median household income in Palmyra, NE is $81,458 per year, which is 8% above the national median of $75,149.
What is the median home value in Palmyra?
The median home value in Palmyra, NE is $160,900, which is 34% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palmyra?
The median monthly rent in Palmyra, NE is $1,143, which is 2% below the national average of $1,163/month.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra, NE is 4.0%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palmyra, NE a good place to live?
Palmyra offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 642 and a median age of 31.7, the city appeals to young professionals and families.
How educated is Palmyra, NE?
10.1% of residents in Palmyra 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 Palmyra?
Key cost-of-living indicators for Palmyra, NE: median home value is $160,900 (34% below national), median rent is $1,143/month, and median household income is $81,458. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Palmyra?
The poverty rate in Palmyra, NE is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palmyra, NE?
Palmyra's population is 6.1% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 2.2% of residents are foreign-born.