Market Overview
Home Prices in Palmer, IA
The median home value in Palmer, IA is $137,234 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.4% compared to a year ago and up 1.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palmer are priced67% below average.
Price History
Palmer Home Price Trend
2022
$116,205
$116K
—
2023
$110,208
$110K
-5.2%
2024
$129,455
$129K
+17.5%
2025
$131,496
$131K
+1.6%
2026
$137,234
$137K
+4.4%
City Comparison
Palmer vs. National Median
🏠 Palmer
$137,234
National Median
$410,000
At $137,234, homes in Palmer cost 67% below the national median of $410,000. This makes Palmer a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palmer?
20% Down Payment
$27,447
on $137,234
Monthly P&I
$716/mo
30-yr @ 6.8%
Total Monthly Est.
~$909/mo
incl. taxes & insurance
Income Needed
$36,360
gross annual (30% rule)
10% Down Option
$13,723
+ PMI applies
Loan Amount (20% dn)
$109,787
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, IA?
The median home value in Palmer is $137,234 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.4% year-over-year.
How much have home prices changed in Palmer?
Over the past year, home values in Palmer have increased by 4.4%.
How much do I need to earn to buy a home in Palmer?
To comfortably afford the median home price of $137,234 with a 20% down payment ($27,447) at today's rates (6.8%), you'd need a gross annual income of approximately $36,360. This assumes keeping total housing costs at or below 30% of gross income.
How does Palmer compare to the national average home price?
The national median home value is approximately $410,000. At $137,234, homes in Palmer are 67% below the national average.