Market Overview
Home Prices in Palmyra, VA
The median home value in Palmyra, VA is $383,507 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.7% compared to a year ago and up 2.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palmyra are priced6% below average. Palmyra is part of the Charlottesville, VA metro area.
Over the past five years, Palmyra home values have risen by approximately29.2%, reflecting strong long-term appreciation in this market.
Price History
Palmyra Home Price Trend
City Comparison
Palmyra vs. National Median
At $383,507, homes in Palmyra cost 6% below the national median of $410,000. This makes Palmyra a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palmyra?
20% Down Payment
$76,701
on $383,507
Monthly P&I
$2,000/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,540/mo
incl. taxes & insurance
Income Needed
$101,600
gross annual (30% rule)
10% Down Option
$38,351
+ PMI applies
Loan Amount (20% dn)
$306,806
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 Palmyra, VA?
The median home value in Palmyra is $383,507 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.7% year-over-year.
How much have home prices changed in Palmyra?
Over the past year, home values in Palmyra have increased by 0.7%. Over five years, prices have risen approximately 29.2%.
How much do I need to earn to buy a home in Palmyra?
To comfortably afford the median home price of $383,507 with a 20% down payment ($76,701) at today's rates (6.8%), you'd need a gross annual income of approximately $101,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Palmyra compare to the national average home price?
The national median home value is approximately $410,000. At $383,507, homes in Palmyra are 6% below the national average.
What metro area is Palmyra part of?
Palmyra is part of the Charlottesville, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.