Palmyra, Indiana (47164) is a small yet vibrant city located in the southern part of the state. The 2 Bedroom Rent in Palmyra is $870, which is significantly lower than the US national average of $1,430. This means that living in Palmyra is much more affordable than elsewhere in America. In addition to an affordable housing market, grocery costs are also relatively low compared to the US average. The Grocery Cost Index in Palmyra is 95 versus 100 in the US, making food prices around 5% cheaper locally. There are many local businesses in Palmyra such as Palmyra Vision Care, Erika's Antiques & Gifts, and M & S Pizza Palace that give residents access to goods and services at competitive prices. Overall, with its affordable housing and groceries costs relative to other areas of the country, Palmyra makes for an attractive place to live.
Palmyra (zip 47164) has an unemployment rate of 3.8%. The US average is 6.0%.
Palmyra (zip 47164) has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.
Tax Rates for Palmyra (zip 47164)
- The Sales Tax Rate for Palmyra (zip 47164) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Palmyra (zip 47164) is 4.2%. The US average is 4.6%.
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Income and Salaries for Palmyra (zip 47164)
- The average income of a Palmyra (zip 47164) resident is $27,799 a year. The US average is $37,638 a year.
- The Median household income of a Palmyra (zip 47164) resident is $55,364 a year. The US average is $69,021 a year.