Palmyra CDP Utah Area Home Supply Charts

This page looks at a variety of Palmyra CDP Utah housing market data taken from the most recent 2021 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Palmyra CDP depicts it has a Housing Units of 201 which is the smallest in terms of housing units of all the other places in the greater region.

Figure 2 illustrates the housing density in the Palmyra CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Palmyra CDP depicts it has a Housing Density of 17.9 which is the smallest as measured by housing density of all the other places in the area. The place with the highest housing density in the area is Spanish Fork which shows a density of 689.3 ( markedly bigger). Comparing housing density to the United States average of 39.2, Palmyra CDP is approximately half the size. Also, benchmarked against the state of Utah, housing density of 13.5, Palmyra CDP is 32.4% larger.

In Figure 4, Palmyra CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Palmyra CDP indicates it has a Housing Unit Change of 21.1% which is the second most housing units of all the places in the greater Palmyra CDP region. The place with the highest change in the housing units in the area is Mapleton which shows a housing units of 34.5% (63.6% larger). Comparing change in the housing units to the United States average of 6.5%, Palmyra CDP is approximately 3.3 times bigger. Also, versus the state of Utah, change in the housing units of 13.3%, Palmyra CDP is 58.1% larger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Palmyra CDP depicts it has a Renter Percent of 25.9% which is the second most of all the places in the metro area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 74.1% which is the second smallest when ranked by owner percent of all the other places in the greater region.

Palmyra CDP Utah Home Cost Charts

Looking at the housing data provided in Figure 7, the average Palmyra CDP home price is illustrated for this community and a useful analysis of affordable housing. Palmyra CDP depicts it has a Median Home Value of $383,300 which is in the center range of other places in the metro area. The place with the highest median home price in the area is Lake Shore CDP which shows a home price of $504,800 (31.7% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Palmyra CDP has the largest proportion of home price worth less than $50,000 at 3% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Palmyra CDP depicts it has a Median Owner Cost of $1,313 which is less than most other places in the greater region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Palmyra CDP metro area. it has a Owner Cost as % of HH Income of 16% which is less than most other places in the metro area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Palmyra CDP shows it has a Median Home Value as Percent of Median Earnings of 628% which is in the intermediate range of other places in the metropolitan area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Palmyra CDP depicts it has a Median Owner Costs-With Mortgage of $2,105 which is the third most median housing cost of all other places in the greater Palmyra CDP region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $459 which is less than most other places in the local area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Palmyra CDP has one of the largest proportions of owner cost less than $300 at 28% of the total and is ranked #3. Only #2 Benjamin CDP (37%), and #1 Lake Shore CDP (43%) are larger. Second, it has the second smallest when sorted by owner cost less than $300 of all the other places in the metropolitan area when ranked by owner cost between $500 and $700 at 5% of the total. Third, it has the smallest proportion of owner cost between $1,000 and $1,500 at 4% of the total. Also, it has the largest proportion of owner cost between $1,500 and $2,000 at 26% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Palmyra CDP depicts it has a % of Income Owner Costs-With Mortgage of 22% which is the second most cost as a percent of household income of all the places in the greater Palmyra CDP region. The place with the highest cost as a percent of household income in the area is Lake Shore CDP which depicts a cost as a percent of household income of 24% (6.3% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Palmyra CDP depicts it has a % of Income Owner Costs-No Mortgage of 9% which is the largest of all places in the greater Palmyra CDP region.

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Palmyra CDP has the largest proportion of rent as a percent of income is between 10pct to 20pct at 46% of the total and is ranked #1. Second, it has the largest proportion of rent as a percent of income is between 40pct to 50pct at 48% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Palmyra CDP has the smallest proportion of housing cost between $500 and $700 at 3% of the total. Second, it has the largest proportion of housing cost between $1,500 and $2,000 at 19% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,625 which is the second smallest in terms of median real estate taxes paid of all the other places in the greater region. The place with the highest median real estate taxes paid in the area is Mapleton which shows a taxes paid of $2,690 (65.5% larger). Comparing median real estate taxes paid to the United States average of $2,551, Palmyra CDP is approximately three-fourths the size. Also, benchmarked against the state of Utah, median real estate taxes paid of $1,837, Palmyra CDP is about 13.0% smaller.

Figure 22 shows the percentage of renters who pay for utilities in Palmyra CDP Utah. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Palmyra CDP has the percentage of pay extra for utilities less than most other places in the metro area at 6% of the total.

Figure 23 shows the rental rate distribution for this area. Palmyra CDP Utah has one of the largest proportions of rent between 750 and 1000 dollars at 46% of the total and is ranked #2. The only larger place being Salem with 54%. Second, it has the largest proportion of rent between 1000 and 1500 dollars at 48% of the total and is ranked #1.

Palmyra CDP Utah Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Palmyra CDP has the percentage of With mortgage the second smallest when sorted by With Mortgage of all the other places in the local area at 44% of the total. Second, it has the largest proportion of Primary Mortgage with 2nd Mortgage and HELOC at 15% of the total and is ranked #1. Third, it has one of the largest proportions of With HELOC no Primary Mortgage at 41% of the total and is ranked #2. The only larger place being Lake Shore CDP with 45%.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Palmyra CDP has one of the largest proportions of houses with mortgages at 41% of the total and is ranked #2. The only larger place being Lake Shore CDP with 45%.

Palmyra CDP Utah Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 2.9 which is the smallest when ranked by family members per housing unit of all the other places in the metro area. The place with the highest family members per housing unit in the area is Lake Shore CDP which depicts a family members per housing unit of 4.4 (55.7% larger). Comparing family members per housing unit to the United States average of 3.3, Palmyra CDP is about 15.9% smaller. Also, benchmarked against the state of Utah, family members per housing unit of 3.7, Palmyra CDP is approximately three-fourths the size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 7.2 which is the third most average number of rooms in a house of all other places in the greater Palmyra CDP region. The place with the highest average number of rooms in a house in the area is Mapleton which shows an average number of rooms in a house of 10.0 (38.9% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1983 which is the second smallest in terms of year built of all the other places in the metropolitan area. The place with the highest year built in the area is Salem which depicts a year built of 2000 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the smallest proportion of homes built between 2010 to 2013 at 19% of the total. Second, it has the smallest proportion of homes built between 2000 to 2009 at 10% of the total. Third, it has the largest proportion of homes built between 1990 to 1999 at 31% of the total and is ranked #1. Also, it has one of the largest proportions of homes built between 1940 to 1949 at 19% of the total and is ranked #2. The only larger place being Benjamin CDP with 23%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest as measured by owner-occupied housing units of all the other places in the surrounding region at 52 of the total.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. has the percentage of value of homes built 2010 to 2013 less than most other places in the local area at $355,600 of the total. Second, it has one of the largest proportions of value of homes built 2000 to 2009 at $550,000 of the total and is ranked #2. The only larger place being Benjamin CDP with $559,800. Third, it has the largest proportion of value of homes built 1990 to 1999 at $455,900 of the total and is ranked #1. Also, it has one of the largest proportions of value of homes built 1980 to 1989 at $322,700 of the total and is ranked #3. Only #2 Benjamin CDP ($372,200), and #1 Mapleton ($395,500) are larger.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Palmyra CDP residents. it has a Owner-Household Size of 2.9 which is the smallest when sorted by homeowner household size of all the other places in the metro area. The place with the highest homeowner household size in the area is Mapleton which shows a homeowner household size of 3.9 (36.2% larger).

Figure 37 shows the household size for renters. Palmyra CDP depicts it has a Renter-Household Size of 2.4 which is the smallest as measured by renter household size of all the other places in the local area. The place with the highest renter household size in the area is Lake Shore CDP which depicts a renter household sizes of 7.5 (approximately 3.1 times bigger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 28% of the total and is ranked #2. The only larger place being Spanish Fork with 30%. Second, it has the smallest proportion of owners moved in 2015 to 2018 at 8% of the total. Third, it has the smallest proportion of owners moved in 2010 to 2014 at 18% of the total. Also, it has the largest proportion of owners moved in 2000 to 2009 at 27% of the total and is ranked #1. Figure 39 shows the year that people who rent moved into the area. Palmyra CDP has the smallest proportion of renters moved in 2019 or later at 2% of the total. Second, it has the largest proportion of renters moved in 2015 to 2018 at 40% of the total and is ranked #1. Third, it has the largest proportion of renters moved in 2010 to 2014 at 58% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2005 which is the second smallest when sorted by median year that a home owner moved in of all the other places in the metro area. Figure 41 compares the median year that renters moved into their home. Palmyra CDP depicts it has a Renter Median Year Moved In of 2010 which is less than most other places in the local area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of homes using natural gas at 36% of the total and is ranked #1. Second, it has the largest proportion of home using bottled, tank, or lp gas at 19% of the total and is ranked #1. Third, it has one of the largest proportions of homes using solar energy at 0% of the total and is ranked #2. The only larger place being Benjamin CDP with 1%.