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City · 6,268 residents · Matanuska-Susitna Borough, Alaska

Palmer , Alaska

In Palmer, a typical home is worth $294,900 and typical rent is $1,125 a month. Compared with all of Matanuska-Susitna Borough, typical household income is 23% lower, the typical home value is 15% lower, and the share of households that own their home is 14 points lower.

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  • Typical home value

    $294,900

    15% below the borough

    16% below Alaska

    • Palmer
    • Matanuska-Susitna
    • Alaska

  • Typical rent

    $1,125a month

    13% below the borough

    21% below Alaska

    • Palmer
    • Matanuska-Susitna
    • Alaska

  • Typical household income

    $72,201a year

    23% below the borough

    22% below Alaska

    • Palmer
    • Matanuska-Susitna
    • Alaska

  • Households that own their home

    63%

    14 points below the borough

    4 points below Alaska

    • Palmer
    • Matanuska-Susitna
    • Alaska

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$439,932
7.2% more than 12 months ago
Typical rent
$2,225 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Palmer is in Matanuska-Susitna Borough. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Matanuska-Susitna Borough. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Palmer apart

What this place has that others do not, from public data, most unusual first.

  1. Palmer has the 2nd lowest typical household income of the 21 cities in Alaska with more than 5,000 people ($72,201).

  2. Palmer has the 2nd lowest typical rent of the 20 cities in Alaska with more than 5,000 people ($1,125).

  3. 63% of households in Palmer own their home, against 77% in Matanuska-Susitna Borough.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Palmer

What homes there are in Palmer, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Palmer, but it weighs less than in Matanuska-Susitna Borough: 65% against 83%.

Year built

The typical home in Palmer was built in 1990, 7 years before the typical one in Matanuska-Susitna Borough.

Homes in Palmer are bigger: 62% have 3 bedrooms or more; in Matanuska-Susitna Borough, 59%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,678 a month

Matanuska-Susitna Borough: $2,112 a month

Without a mortgage

$576 a month

Matanuska-Susitna Borough: $615 a month

Owners with a mortgage

70%

Matanuska-Susitna Borough: 67%

In Palmer, 70% of owners have a mortgage, and their typical cost is $1,678 a month, against $2,112 in Matanuska-Susitna Borough. Without one it drops to $576.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Palmer rose 42%; in Matanuska-Susitna Borough, it rose 39%.

Much as in Matanuska-Susitna Borough, the typical rent in Palmer rose 15% since 2015–2019.

To compare: typical income in Palmer rose 16%; the home, +42%; the rent, +15%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasurePalmerMatanuska-Susitna BoroughAlaskaUnited States
Rental vacancy 5.3%3.9%7.0%5.5%
Homeowner vacancy Unreliable estimate0.6%0.9%0.9%
More than one person per room 4.0%5.2%5.7%3.4%
People per household 2.582.772.612.53
Drive alone 74%71%65%69%
Carpool 10%10%12%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 5%2%8%3%
Work from home 9%12%10%15%
Other means Unreliable estimate5%4%2%
Typical commute Unreliable estimate20 to 29 minutes10 to 19 minutes20 to 29 minutes

There is more rental housing open in Palmer: 5.3% is empty and offered for rent, against 3.9% in Matanuska-Susitna Borough.

Fewer households are short on space in Palmer: 4.0% have more than one person per room; in Matanuska-Susitna Borough, 5.2%.

Households in Palmer are smaller: 2.58 people on average; in Matanuska-Susitna Borough, 2.77.

In Palmer, 74% of workers drive alone to work; in Matanuska-Susitna Borough, 71%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Palmer?

A typical home costs more than the typical income allows

We start with a typical home in Palmer, worth $294,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Palmer, which is $72,201 a year. For that payment to be 28% of income, a household would need to earn about $105,034 a year.

The calculator's FHA and conventional loan limits are those of all of Matanuska-Susitna Borough.

Your numbers

Local data
$

Starts at the typical home value in Palmer. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $10,322 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,451

at 7.18% · 30 years

Loan amount
$289,558
Total interest
$416,606
Paid off in
November 2056

Includes $4,980 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,685 a month

  • Tight

    $1,685 to $2,166 a month

  • Hard

    more than $2,166 a month

    Your payment · 41%

Compared with the typical household income in Palmer ($72,201 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,451
Principal & interest$1,962
Property tax$236
Home insurance$123
FHA mortgage insurance (MIP)$130

You need at least $10,322 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Palmer and Matanuska-Susitna Borough

Palmer is in Matanuska-Susitna Borough, Alaska. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Palmer's own numbers

Typical home value
$294,900
Typical monthly rent
$1,125
Typical yearly household income
$72,201
Households that own their home
63%
Effective property tax rate
0.96%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Matanuska-Susitna Borough

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$1,249,125
HUD fair market rent, 2 bedrooms
$1,293
Price change over 5 years (FHFA)
+50%
Homes in a high flood-risk zone
1.2%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Matanuska-Susitna Borough.

Everything about Matanuska-Susitna Borough

Buying

Buying a home in Palmer

A typical home in Palmer is worth $294,900: 15% below the borough and 16% below Alaska. With the typical household income in Palmer ($72,201 a year), a typical home costs 4.1 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Palmer 4.1 years
  • Matanuska-Susitna 3.7 years
  • Alaska 3.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Matanuska-Susitna Borough

According to FHFA’s house price index, home prices in Matanuska-Susitna Borough rose 71% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Matanuska-Susitna Borough.

Period Borough Alaska U.S.
Last year (2025) +5.3% +4.1% +2.9%
5 years (2020–2025) +50% +39% +47%
10 years (2015–2025) +71% +52% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Palmer next to Matanuska-Susitna Borough, Alaska and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Palmer $294,900
  • Matanuska-Susitna $346,600
  • Alaska $352,900
  • United States $332,700
Typical monthly rent
  • Palmer $1,125
  • Matanuska-Susitna $1,299
  • Alaska $1,419
  • United States $1,413
Typical yearly household income
  • Palmer $72,201
  • Matanuska-Susitna $94,031
  • Alaska $92,788
  • United States $80,734
See the full table
Palmer next to Matanuska-Susitna Borough and Alaska
Measure Palmer Matanuska-Susitna Borough Alaska U.S.
Typical home value $294,900 $346,600 $352,900 $332,700
Typical monthly rent $1,125 $1,299 $1,419 $1,413
Typical yearly household income $72,201 $94,031 $92,788 $80,734
Households that own their home 63% 77% 67% 65%
Typical yearly property tax $2,820 $3,685 $3,901 $3,119
Effective property tax rate 0.96% 1.06% 1.11% 0.94%
Renters with high rent for their income 55% 53% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Matanuska-Susitna Borough. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Palmer

For a typical $294,900 home in Palmer, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Palmer's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,451a month

    Least cash to close
    Down payment
    $10,322
    Cash to close
    $19,169
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $130

  • Conventional, 5% down $2,397a month

    Down payment
    $14,745
    Cash to close
    $23,592
    Rate
    7.18%
    Mortgage insurance
    PMI · $140

  • Conventional, 20% down, no PMI $1,957a month

    Down payment
    $58,980
    Cash to close
    $67,827
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,230a month

    Down payment
    $44,235
    Cash to close
    $53,082
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Palmer and for Matanuska-Susitna Borough.

Property tax

Effective rate in Palmer

0.96%of the home’s value each year

$2,820 a year for the typical owner in Palmer.

  • Palmer 0.96%
  • Matanuska-Susitna 1.06%
  • Alaska 1.11%

What Alaska publishes Optional municipal residential exemption (Alaska State Legislature (Alaska Statutes 2025))

Exemptions and deadlines in Alaska

Flood risk in Matanuska-Susitna Borough

FEMA does not publish these numbers by city: they are for all of Matanuska-Susitna Borough.

Homes in the high-risk zone
1.2%
532
Of those, with NFIP insurance
23%
Borough Alaska U.S.
Homes in the high-risk zone 1.2% 1.2% 3.5%
Of those, with NFIP insurance 23% 49% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Palmer

Typical rent in Palmer is $1,125 a month: 13% below the borough. In Palmer, 55% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Matanuska-Susitna Borough, by unit size. To pay the 2-bedroom one ($1,293 a month) without spending more than 30% of your income, you would need to earn $24.87 an hour working full time.

HUD fair market rent for all of Matanuska-Susitna Borough

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $929 $17.87 $37,160
1 bedroom $988 $19.00 $39,520
2 bedrooms $1,293 $24.87 $51,720
3 bedrooms $1,790 $34.42 $71,600
4 bedrooms $2,161 $41.56 $86,440

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Palmer

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Palmer is in ZIP code 99645.

For 2 bedrooms it is $1,400: $107 more than the fair market rent for Matanuska-Susitna Borough ($1,293).

  • 99645 $1,400$1,940

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Palmer when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Palmer

HUD lists 9 buildings with rents for lower incomes in Palmer. These are the largest.

  • Creekwood Apts 1910 N Creekwood Park Cir, Palmer 99645 48 low-income homes · 1 bd: 12 · 2 bd: 24 · 3 bd: 12 · In service since 2006 · For people with disabilities, people experiencing homelessness
  • Eagle Ridge of Palmer 1775 N Thuma St, Palmer 99645 33 homes, 32 low-income · 2 bd: 16 · 3 bd: 17 · In service since 2007 · For families
  • Chugach Colony Estates 1102 S Chugach St, Palmer 99645 31 homes, 28 low-income · 1 bd: 25 · 2 bd: 6 · In service since 2008 · For older adults
  • Colony Estates 831 S Chugach St, Palmer 99645 24 homes, 20 low-income · 1 bd: 22 · 2 bd: 2 · In service since 1998 · For older adults
  • Daybreak Apartments 2080 N Hemmer Rd, Palmer 99645 20 homes, 19 low-income · For people with disabilities (907) 745-6019

See all 34 buildings in Matanuska-Susitna Borough Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Palmer

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Matanuska-Susitna Borough. The nearest ones are below; many serve by phone or online.

A young woman and a young man point to a line in their notes beside a laptop in a library.

HUD counseling is free or low-cost

Assistance programs in Palmer

No down payment, repair or rent-help program on our list is for Palmer or Matanuska-Susitna Borough. The ones below are statewide in Alaska: they work in Palmer the same as in the rest of the state.

Which programs do I qualify for? All programs in Alaska

  • Closing Cost Assistance Program (CCAP)

    Statewide in Alaska

    Alaska state authority help of 3% or 4% of the loan, paid at closing and not repaid, for the down payment, closing costs or to reduce the principal; with 30-year fixed-rate FHA, VA or USDA mortgages. Offered by Alaska Housing Finance Corporation (AHFC).

    Grant

    See the program Official page

Housing counselors near Palmer

The HUD-approved agencies closest to the center of Palmer, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Rural Alaska Community Action Program

    130 E Redoubt Ave, Soldotna · 101 miles away

    • Budget and credit workshops
    • Home improvement and repairs
    • and 1 more
    (907) 260-3451

All counseling agencies in Alaska

Help in Spanish near Palmer

None of the 1 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Palmer

HUD lists no housing authority with an office in Matanuska-Susitna Borough. One in a neighboring county or the state’s may serve the area.

All housing agencies in Alaska Source: HUD

Cities

Other cities in Matanuska-Susitna Borough

These cities are also in Matanuska-Susitna Borough. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Matanuska-Susitna Borough Housing in Alaska

Nearby cities

The cities closest to Palmer, with the typical home value.

Neighboring counties

If Matanuska-Susitna Borough is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Palmer.

All guides
A father, a mother and their daughter smile among the avocado trees by their home in Somis, California.

Questions

Housing questions about Palmer

Short answers with the numbers for Palmer and all of Matanuska-Susitna Borough. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Palmer?

The typical home value in Palmer is $294,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Matanuska-Susitna Borough it is $346,600.

How much does it cost to rent in Palmer?

Typical rent in Palmer is $1,125 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Matanuska-Susitna Borough is $1,293.

What is the FHA loan limit in Palmer?

Palmer uses the FHA limit for all of Matanuska-Susitna Borough (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Palmer?

The typical homeowner in Palmer pays $2,820 a year, according to the U.S. Census Bureau. That is 0.96% of the home’s value; in Matanuska-Susitna Borough, the rate is 1.06%.

Where can I find free help to buy or rent in Palmer?

We found no HUD-approved counseling agencies with an office in Matanuska-Susitna Borough; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).