Cost of Living in Palmer, MI
Population: 342 | Michigan
Palmer is 21% less expensive than the national average.
Cost of Living in Palmer, MI: What You Need to Know
With a cost of living index of 79, Palmer, MI is a very affordable place to live. Living here is 21% cheaper than the national average and in line with the Michigan state average. Palmer is a small community of 342 residents.
The median household income in Palmer is $64,000, which is 15% lower than the national median of $75,149. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.
Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.
Income
- Median Household Income
- $64,000
- vs US Median ($75,149)
- -15%
Housing
- Median Home Value
- $74,700
- Median Monthly Housing Cost
- $611/mo