Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 2,485 people, 786 houses or apartments, and a median cost of homes of $250,819, house prices in Palmer are solidly below the national average.
Single-family detached homes are the single most common housing type in Palmer, accounting for 75.09% of the town's housing units. Other types of housing that are prevalent in Palmer include mobile homes or trailers ( 17.63%), duplexes, homes converted to apartments or other small apartment buildings ( 3.41%), and a few row houses and other attached homes ( 2.47%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Palmer. Owner-occupied housing accounts for 66.54% of Palmer's homes, and 72.97% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Palmer built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palmer built between 2000 and later ( 34.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.75%). There's also some housing in Palmer built before 1939 ( 8.93%).
In the last 10 years, Palmer has experienced some of the highest home appreciation rates of any community in the nation. Palmer real estate appreciated 131.30% over the last ten years, which is an average annual home appreciation rate of 8.75%, putting Palmer in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Palmer definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Palmer appreciation rates have trailed the rest of the nation. In the last twelve months, Palmer's appreciation rate has been 2.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Palmer were at 1.89%, which equates to an annual appreciation rate of 7.76%.
Relative to Texas, our data show that Palmer's latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.
$250,819
for Texas
for nation
786
$2,016 / per month