Palmer, AK Cost Of Living
Cost Of Living In Palmer, AK Summary
Cost of living in Palmer 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 Palmer is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Alaska, 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 Palmer is 118, with 100 being the average.
The cost of living index in Palmer is 1.2x higher than the national average.
Palmer ranks as the #1 cheapest in Alaska out of 22.
Palmer ranks as the #4,687 cheapest out of 6,412 in the US.
The median home value in Palmer is $224,500.
The median income in Palmer is $62,068.
Table Of Contents
Palmer's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Palmer, AK?
According to the most recent data on the cost of living, Palmer has an overall cost of living index of 118, which is 1.2x higher than the national index of 100.
Compared to Alaska, Palmer has a cost of living index that's 0.9x lower than Alaska's index of 125.
The standard of living in Palmer ranks as #1 most affordable out of the 22 places we measured in Alaska. By definition, that implies Palmer ranks as the #21 most expensive place in the Last Frontier.
For more reading on life in Palmer, check out:
- Living In Palmer
- Palmer Crime Report
- Search Homes For Sale In Palmer, AK
In Alaska
In America
Palmer Cost Of Living Vs. Alaska
Six factors go into calculating the cost of living index in Palmer. Here is how it fairs on each of the criteria:
The Services index in Palmer is 115.
The Groceries index in Palmer is 128.
The Health index in Palmer is 150.
The Housing index in Palmer is 105.
The Transportation index in Palmer is 112.
The Utilities index in Palmer is 128.
| Living Expense | Palmer | Alaska | National Average | |
|---|---|---|---|---|
| Overall | 118 | 125 | 100 | |
| Services | 115 | 119 | 100 | |
| Groceries | 128 | 129 | 100 | |
| Health | 150 | 152 | 100 | |
| Housing | 105 | 119 | 100 | |
| Transportation | 112 | 119 | 100 | |
| Utilities | 128 | 147 | 100 | |
Palmer, AK Housing Cost Breakdown
Housing swings affordability the most between places in Alaska, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Palmer is $224,500.
The Median Rent in Palmer is $1,053.
The Median Income in Palmer is $62,068.
The Home Value To Income in Palmer is 3.6x.
The Rent To Monthly Income in Palmer is 0.2x.
| Statistic | Palmer | Alaska | United States |
|---|---|---|---|
| Median Home Value | $224,500 | $282,800 | $244,900 |
| Median Rent | $1,053 | $1,279 | $1,163 |
| Median Income | $62,068 | $80,287 | $69,021 |
| Home Value To Income | 3.6x | 3.5x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Palmer, AK Costs By Category
Detailed Palmer Services Costs Vs. Alaska
Detailed Palmer Groceries Costs Vs. Alaska
Detailed Palmer Health Costs Vs. Alaska
Detailed Palmer Transportation Costs Vs. Alaska
Detailed Palmer Utilities Costs Vs. Alaska
Palmer SnackAbility
/10
Cost Of Living In Cities Around Palmer
The cost of living varies in the cities and towns around Palmer. Here's a quick look at the cost of living in the most populous nearby places:
Knik-Fairview, AK has a cost of living index of 124, 1.1x Palmer.
Tanaina, AK has a cost of living index of 123, 1.0x Palmer.
Wasilla, AK has a cost of living index of 121, 1.0x Palmer.
| City | Population | Cost Of Living | Vs. Palmer |
|---|---|---|---|
| Knik-Fairview, AK | 18,282 | 124 | 1.1x |
| Tanaina, AK | 10,314 | 123 | 1.0x |
| Wasilla, AK | 9,098 | 121 | 1.0x |
| Meadow Lakes, AK | 8,367 | 120 | 1.0x |
| Gateway, AK | 6,305 | 127 | 1.1x |
