States › Alaska › Palmer

Is Palmer, AK expensive to live in?

OKRent takes 23 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,48815% lower than U.S. average
💵 Families earn per year (2026)$77,869about $6,489/month · 11% lower than U.S. average
🔑 House price$294,90011% lower than U.S. average

Rent is lower than in 59% of U.S. cities. A typical house costs about 3.8 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $59,520 a year. That is $29 an hour at a full-time job.

Is rent cheaper than other Alaska cities?

Yes. Rent here is cheaper than in most of Alaska. It is number 8 of 24 cities from cheapest to most expensive.

Palmer
$1,488
Bethel
$1,819
Sterling
$1,988
South Lakes
$1,285
Steele Creek
$1,297
Chena Ridge
$1,177
Homer
$1,273

How much do households earn in Palmer?

Under $25k
14.6%
$25k–50k
19.4%
$50k–100k
35.9%
$100k–150k
14.9%
$150k+
8.0%

Share of households by yearly income. 22.9% of households earn $100,000 or more.

Rent by apartment size in Palmer

SizePalmerU.S. average
Studio$877$1,338
1 bedroom$799$1,324
2 bedrooms$1,249$1,509
3 bedrooms$1,739$1,698
4 bedrooms$2,015$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Palmer overall?

Everyday prices in Alaska overall are 2% above the U.S. average (index 102.4, U.S. = 100).

Housing
94
Goods (food, clothes…)
106
Utilities
119
Other services
102
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Palmer, so the Alaska figure is shown.

Taxes and bills in Palmer

🏛️ Property tax$2,820a year · 0.96% of home value · U.S. $3,119
⚡ Electric bill$124a month (typical) · U.S. $156

Life in Palmer

Commute to work26.8 minU.S.: 26.4 min
College degree24.5%U.S.: 35.7%
Own their home63.1%U.S.: 65.2%
Below poverty line13%U.S.: 12.5%
Unemployment6.9%U.S.: 5.2%

Is it cheaper to rent or buy in Palmer?

Renting is cheaper right now: about $558 a month less.

Renting
$1,488
Owning
$2,046

Owning assumes a typical $294,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $29,490 for the down payment.

Frequently asked questions

What is the average rent in Palmer, AK?

Renting in Palmer costs a median of about $1,488 a month in 2026, including utilities. The Alaska median is $1,651.

How much do I need to make to live in Palmer?

To keep rent under 30% of income, you need about $59,520 a year, or $29 an hour at a full-time job.

Is Palmer cheap or expensive?

Palmer is rated OK: rent takes 22.9% of the typical household income of $77,869. It ranks 8th cheapest of 24 Alaska cities we track.

How much are property taxes in Palmer?

The median homeowner in Palmer pays $2,820 a year in property taxes, about 0.96% of the median home value.

Is Palmer more expensive than the national average?

Overall prices in Alaska are 2% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Palmer?

The median home value in Palmer is $294,900, about 3.8 times the typical yearly household income.

6,268 people live in Palmer. Numbers are typical (middle) values.