Market Overview
Home Prices in Palmer Lake, CO
The median home value in Palmer Lake, CO is $536,376 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.2% compared to a year ago and up 0% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palmer Lake are priced31% above average. Palmer Lake is part of the Colorado Springs, CO metro area.
Over the past five years, Palmer Lake home values have risen by approximately11.9%, reflecting steady appreciation in this market.
Price History
Palmer Lake Home Price Trend
City Comparison
Palmer Lake vs. National Median
At $536,376, homes in Palmer Lake cost 31% above the national median of $410,000. Buyers in Palmer Lake should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Palmer Lake?
20% Down Payment
$107,275
on $536,376
Monthly P&I
$2,797/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,552/mo
incl. taxes & insurance
Income Needed
$142,080
gross annual (30% rule)
10% Down Option
$53,638
+ PMI applies
Loan Amount (20% dn)
$429,101
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Palmer Lake, CO?
The median home value in Palmer Lake is $536,376 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.2% year-over-year.
How much have home prices changed in Palmer Lake?
Over the past year, home values in Palmer Lake have decreased by 0.2%. Over five years, prices have risen approximately 11.9%.
How much do I need to earn to buy a home in Palmer Lake?
To comfortably afford the median home price of $536,376 with a 20% down payment ($107,275) at today's rates (6.8%), you'd need a gross annual income of approximately $142,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Palmer Lake compare to the national average home price?
The national median home value is approximately $410,000. At $536,376, homes in Palmer Lake are 31% above the national average.
What metro area is Palmer Lake part of?
Palmer Lake is part of the Colorado Springs, CO metropolitan area. Home prices and market conditions can vary across the broader metro region.