Palmyra, UT
Population 346 · Utah
About Palmyra, UT
Palmyra is a small community located in Utah with a population of 346 residents according to the latest US Census Bureau American Community Survey data. The median household income is $92,857 per year, which is 24% above the national median of $75,149. The median age of 47.4 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 Palmyra features a median home value of $583,300, which is 138% above the national median of $244,900. This places Palmyra in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,500, 29% above the national average of $1,163/month. Of the 122 total housing units, 69% are owner-occupied (84 units) and 31% are renter-occupied (38 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palmyra shows an unemployment rate of 9.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palmyra have an average one-way commute time of 34 minutes.
Education & Demographics
9.4% 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 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 3.8% Asian residents, with 3.8% of the population being foreign-born.
Cost of Living in Palmyra, UT
Compared to national averages, Palmyra has a median household income of $92,857 (24% above the national median of $75,149). Home values average $583,300, which is 138% above the national median. Monthly rent at $1,500 is 29% above the US average of $1,163. Within Utah, Palmyra's income is 5% above the state average of $88,715, and home values are 37% above the state median of $426,386.
Why Live in Palmyra, UT?
Palmyra offers a strong local economy with a median household income of $92,857, well above the national average, and a low poverty rate of 0.0%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $583,300. However, Palmyra’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Palmyra has a population of 346 with a median age of 47.4 years. Compare Palmyra with other cities to see how it stacks up, or explore all cities in Utah.
Similar Cities Near Palmyra
Cities in Utah with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Deweyville | 345 | $87,500 | $411,500 | Compare |
| Wales | 345 | $75,625 | $340,600 | Compare |
| Castle Valley | 348 | $44,464 | $359,700 | Compare |
| Teasdale | 352 | $72,708 | $606,800 | Compare |
| Brighton | 353 | $143,563 | $664,500 | Compare |
| New Harmony | 353 | $82,663 | $495,000 | Compare |
| Alta | 337 | $0 | $2,000,001 | Compare |
| Torrey | 332 | $74,423 | $371,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Utah
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palmyra With Other Cities
Frequently Asked Questions about Palmyra
What is the population of Palmyra, UT?
The population of Palmyra, UT is 346 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Utah.
What is the median household income in Palmyra?
The median household income in Palmyra, UT is $92,857 per year, which is 24% above the national median of $75,149.
What is the median home value in Palmyra?
The median home value in Palmyra, UT is $583,300, which is 138% above 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, UT is $1,500, which is 29% above the national average of $1,163/month.
What is the unemployment rate in Palmyra?
The unemployment rate in Palmyra, UT is 9.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palmyra, UT a good place to live?
Palmyra offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 346 and a median age of 47.4, the city appeals to established professionals and retirees.
How educated is Palmyra, UT?
9.4% 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, UT: median home value is $583,300 (138% above national), median rent is $1,500/month, and median household income is $92,857. The home-value-to-income ratio is 6.3x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Palmyra?
The poverty rate in Palmyra, UT is 0.0%, 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, UT?
Palmyra's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 3.8% Asian, and 0.0% two or more races. 3.8% of residents are foreign-born.