Cost of Living in Palmyra, WI

With a cost of living index of 72, Palmyra, WI is one of the most affordable cities in the country. Living here is 28% cheaper than the national average and 7% below the Wisconsin state average of 79. Palmyra is a small community of 2,042 residents.

Housing costs are the biggest factor in Palmyra's cost of living. The median monthly rent is $765 (42% below the US median of $1,319), and the median home value sits at $194,200 (36% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Palmyra is $80,709, which is 7% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.