Palmyra, NJ Cost Of Living
Cost Of Living In Palmyra, NJ Summary
Cost of living in Palmyra research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Palmyra is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Jersey, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Palmyra is 105, with 100 being the average.
The cost of living index in Palmyra is 1.1x higher than the national average.
Palmyra ranks as the #31 cheapest in New Jersey out of 260.
Palmyra ranks as the #3,177 cheapest out of 6,489 in the US.
The median home value in Palmyra is $308,939.
The median income in Palmyra is $85,014.
Table Of Contents
Palmyra's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Palmyra, NJ?
According to the most recent data on the cost of living, Palmyra has an overall cost of living index of 105, which is 1.1x higher than the national index of 100.
Compared to New Jersey, Palmyra has a cost of living index that's 0.9x lower than New Jersey's index of 122.
The standard of living in Palmyra ranks as #31 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Palmyra ranks as the #229 most expensive place in the Garden State.
For more reading on life in Palmyra, check out:
In New Jersey
In America
Palmyra Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Palmyra. Here is how it fairs on each of the criteria:
The Services index in Palmyra is 104.
The Groceries index in Palmyra is 103.
The Health index in Palmyra is 95.
The Housing index in Palmyra is 114.
The Transportation index in Palmyra is 108.
The Utilities index in Palmyra is 108.
| Living Expense | Palmyra | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 105 | 122 | 100 | |
| Services | 104 | 108 | 100 | |
| Groceries | 103 | 104 | 100 | |
| Health | 95 | 99 | 100 | |
| Housing | 114 | 159 | 100 | |
| Transportation | 108 | 101 | 100 | |
| Utilities | 108 | 107 | 100 | |
Palmyra, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Palmyra is $308,939.
The Median Rent in Palmyra is $1,680.
The Median Income in Palmyra is $85,014.
The Home Value To Income in Palmyra is 3.6x.
The Rent To Monthly Income in Palmyra is 0.24x.
| Statistic | Palmyra | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $308,939 | $564,432 | $303,400 |
| Median Rent | $1,680 | $1,653 | $1,348 |
| Median Income | $85,014 | $101,050 | $78,538 |
| Home Value To Income | 3.6x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Palmyra, NJ Costs By Category
Detailed Palmyra Services Costs Vs. New Jersey
| Item | Palmyra | New Jersey |
|---|---|---|
| Shampoo | $1.52 | $1.28 |
| Movie | $13.75 | $12.13 |
| Bowling | $19.47 | $18 |
| Haircut | $23.54 | $24.26 |
| Beauty Salon | $66.27 | $45.56 |
Detailed Palmyra Groceries Costs Vs. New Jersey
| Item | Palmyra | New Jersey |
|---|---|---|
| Ground Beef | $5.76 | $5.84 |
| Fried Chicken | $1.46 | $1.57 |
| Milk | $4.67 | $4.67 |
| Potatoes | $5.37 | $4.93 |
| Pizza | $11.73 | $12.09 |
| Beer | $11.99 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Palmyra Health Costs Vs. New Jersey
| Item | Palmyra | New Jersey |
|---|---|---|
| Optometrist | $123.5 | $125.68 |
| Doctor | $132.56 | $135.78 |
| Dentist | $103.31 | $113.29 |
Detailed Palmyra Transportation Costs Vs. New Jersey
| Item | Palmyra | New Jersey |
|---|---|---|
| Gasoline | $3.53 | $3.46 |
| Tire Balancing | $70.89 | $59.92 |
Detailed Palmyra Utilities Costs Vs. New Jersey
| Item | Palmyra | New Jersey |
|---|---|---|
| All Electricity | $222.45 | $193.99 |
| Phone | $198.27 | $192.25 |
Palmyra SnackAbility
/10
Cost Of Living In Cities Around Palmyra
The cost of living varies in the cities and towns around Palmyra. Here's a quick look at the cost of living in the most populous nearby places:
Philadelphia, PA has a cost of living index of 102, 1.0x Palmyra.
Camden, NJ has a cost of living index of 89, 0.8x Palmyra.
Springdale, NJ has a cost of living index of 123, 1.2x Palmyra.
| City | Population | Cost Of Living | Vs. Palmyra |
|---|---|---|---|
| Philadelphia, PA | 1,582,432 | 102 | 1.0x |
| Camden, NJ | 71,471 | 89 | 0.8x |
| Springdale, NJ | 15,672 | 123 | 1.2x |
| Cherry Hill Mall, NJ | 14,827 | 114 | 1.1x |
| Moorestown-Lenola, NJ | 14,523 | 132 | 1.3x |
| Ardmore, PA | 14,165 | 124 | 1.2x |
| Greentree, NJ | 11,024 | 130 | 1.2x |
| Ashland, NJ | 9,437 | 116 | 1.1x |
| Glenside, PA | 7,941 | 118 | 1.1x |
| Maple Glen, PA | 6,851 | 138 | 1.3x |
