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City · 12,381 residents · Hampden County, Massachusetts

Palmer Town , Massachusetts

In Palmer Town, a typical home is worth $271,400 and typical rent is $1,075 a month. Compared with all of Hampden County, typical household income is 10% higher, the typical home value is 9% lower, and the share of households that own their home is 9 points higher.

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  • Typical home value

    $271,400

    9% below the county

    52% below Massachusetts

    • Palmer Town
    • Hampden
    • Massachusetts

  • Typical rent

    $1,075a month

    5% below the county

    39% below Massachusetts

    • Palmer Town
    • Hampden
    • Massachusetts

  • Typical household income

    $78,480a year

    10% above the county

    25% below Massachusetts

    • Palmer Town
    • Hampden
    • Massachusetts

  • Households that own their home

    71%

    9 points above the county

    9 points above Massachusetts

    • Palmer Town
    • Hampden
    • Massachusetts

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

Palmer Town is in Hampden County. 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 Hampden County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Palmer Town apart

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

  1. Palmer Town has the 6th lowest typical rent of the 121 cities in Massachusetts with more than 5,000 people ($1,075).

  2. Palmer Town has the 8th lowest typical home value of the 123 cities in Massachusetts with more than 5,000 people ($271,400).

  3. 71% of households in Palmer Town own their home, against 62% in Hampden County.

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

The homes here

Housing in Palmer Town

What homes there are in Palmer Town, 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 rules in Palmer Town: 63% of homes, more than in Hampden County (56%).

Year built

By age, homes in Palmer Town look like those in Hampden County: the typical year built is 1962.

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

$2,035 a month

Hampden County: $1,966 a month

Without a mortgage

$791 a month

Hampden County: $824 a month

Owners with a mortgage

63%

Hampden County: 64%

Owning costs about the same in Palmer Town as in Hampden County: with a mortgage, $2,035 a month; without one, $791.

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

The typical home value in Palmer Town rose 38% since 2015–2019, less than in Hampden County (44%).

Rent in Palmer Town moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

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

MeasurePalmer TownHampden CountyMassachusettsUnited States
Rental vacancy Unreliable estimate3.7%3.5%5.5%
Homeowner vacancy Unreliable estimate1.0%0.6%0.9%
More than one person per room Unreliable estimate1.8%2.3%3.4%
People per household 2.242.442.442.53
Drive alone 82%76%61%69%
Carpool Unreliable estimate8%7%9%
Public transit Unreliable estimate2%7%3%
Walk or bike Unreliable estimate3%5%3%
Work from home 7%11%19%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Fewer people live in each home here: 2.24 on average, against 2.44 in Hampden County.

To get to work, 82% of workers in Palmer Town drive alone; in Hampden County, 76%.

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 Town?

A typical home costs more than the typical income allows

We start with a typical home in Palmer Town, worth $271,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 37% of the typical household income in Palmer Town, which is $78,480 a year. For that payment to be 28% of income, a household would need to earn about $103,546 a year.

The calculator's FHA and conventional loan limits are those of all of Hampden County.

Your numbers

Local data
$

Starts at the typical home value in Palmer Town. 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 $9,499 (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

$2,416

at 7.18% · 30 years

Loan amount
$266,484
Total interest
$383,408
Paid off in
November 2056

Includes $4,583 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,831 a month

  • Tight

    $1,831 to $2,354 a month

  • Hard

    more than $2,354 a month

    Your payment · 37%

Compared with the typical household income in Palmer Town ($78,480 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,416
Principal & interest$1,805
Property tax$378
Home insurance$113
FHA mortgage insurance (MIP)$120

You need at least $9,499 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 Town and Hampden County

Palmer Town is in Hampden County, Massachusetts. 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 Town's own numbers

Typical home value
$271,400
Typical monthly rent
$1,075
Typical yearly household income
$78,480
Households that own their home
71%
Effective property tax rate
1.67%

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

Numbers for all of Hampden County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,800
Price change over 5 years (FHFA)
+53%
Homes in a high flood-risk zone
1%

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 Hampden County.

Everything about Hampden County

Buying

Buying a home in Palmer Town

A typical home in Palmer Town is worth $271,400: 9% below the county and 52% below Massachusetts. With the typical household income in Palmer Town ($78,480 a year), a typical home costs 3.5 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 Town 3.5 years
  • Hampden 4.2 years
  • Massachusetts 5.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Hampden County

According to FHFA’s house price index, home prices in Hampden County rose 84% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Hampden County.

Period County Massachusetts U.S.
Last year (2025) +5.3% +3.7% +2.9%
5 years (2020–2025) +53% +49% +47%
10 years (2015–2025) +84% +87% +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 Town next to Hampden County, Massachusetts and the U.S.

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

Typical home value
  • Palmer Town $271,400
  • Hampden $298,800
  • Massachusetts $562,100
  • United States $332,700
Typical monthly rent
  • Palmer Town $1,075
  • Hampden $1,136
  • Massachusetts $1,762
  • United States $1,413
Typical yearly household income
  • Palmer Town $78,480
  • Hampden $71,306
  • Massachusetts $103,960
  • United States $80,734
See the full table
Palmer Town next to Hampden County and Massachusetts
Measure Palmer Town Hampden County Massachusetts U.S.
Typical home value $271,400 $298,800 $562,100 $332,700
Typical monthly rent $1,075 $1,136 $1,762 $1,413
Typical yearly household income $78,480 $71,306 $103,960 $80,734
Households that own their home 71% 62% 63% 65%
Typical yearly property tax $4,540 $4,455 $5,992 $3,119
Effective property tax rate 1.67% 1.49% 1.07% 0.94%
Renters with high rent for their income 53% 54% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hampden County. “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 Town

For a typical $271,400 home in Palmer Town, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Palmer Town's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,416a month

    Least cash to close
    Down payment
    $9,499
    Cash to close
    $17,641
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $120

  • Conventional, 5% down $2,366a month

    Down payment
    $13,570
    Cash to close
    $21,712
    Rate
    7.18%
    Mortgage insurance
    PMI · $129

  • Conventional, 20% down, no PMI $1,962a month

    Down payment
    $54,280
    Cash to close
    $62,422
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,213a month

    Down payment
    $40,710
    Cash to close
    $48,852
    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 Town and for Hampden County.

Property tax

Effective rate in Palmer Town

1.67%of the home’s value each year

$4,540 a year for the typical owner in Palmer Town.

  • Palmer Town 1.67%
  • Hampden 1.49%
  • Massachusetts 1.07%

What Massachusetts publishes Local senior exemption (clause 41C) (Massachusetts General Court (General Laws))

Exemptions and deadlines in Massachusetts

Flood risk in Hampden County

FEMA does not publish these numbers by city: they are for all of Hampden County.

Homes in the high-risk zone
1%
1,130
Of those, with NFIP insurance
26%
County Massachusetts U.S.
Homes in the high-risk zone 1% 3% 3.5%
Of those, with NFIP insurance 26% 50% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Palmer Town

Typical rent in Palmer Town is $1,075 a month: 5% below the county. In Palmer Town, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Hampden County, by unit size. To pay the 2-bedroom one ($1,800 a month) without spending more than 30% of your income, you would need to earn $34.62 an hour working full time.

HUD fair market rent for all of Hampden County

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 $1,264 $24.31 $50,560
1 bedroom $1,421 $27.33 $56,840
2 bedrooms $1,800 $34.62 $72,000
3 bedrooms $2,241 $43.10 $89,640
4 bedrooms $2,370 $45.58 $94,800

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 Town

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Palmer Town has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,580 in 01079 to $1,870 in 01009.

2 of the 4 are above the fair market rent for Hampden County ($1,800).

  • 01009 $1,870$2,330
  • 01069 $1,810$2,260
  • 01079 $1,580$1,970
  • 01080 $1,690$2,100

A ZIP code counts for Palmer Town 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?

Free help

Help to buy or rent in Palmer Town

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.

There are 4 HUD-approved agencies with an office in Hampden County; 4 say they serve in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Palmer Town

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

Which programs do I qualify for? All programs in Massachusetts

  • MassHousing Down Payment Assistance

    Statewide in Massachusetts

    Massachusetts state agency second mortgage for the down payment: up to $30,000 at 0% and deferred, or up to $25,000 at 2% or 3% over 15 years, for first-time buyers with eligible income. Offered by MassHousing.

    DeferredRepayable

    See the program Official page

Housing counselors near Palmer Town

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

  • Springfield Partners for Community Action

    721 State Street, 2nd Floor, Springfield · 14 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 8 more
    413-263-6500-6500

  • Holyoke Housing Authority

    475 Maple St, Holyoke · 16 miles away · Spanish

    • Pre-purchase counseling
    • Homebuyer education workshops
    (413) 539-2202

  • Way Finders, Inc.

    1780 Main St, Springfield · 16 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (413) 233-1500

Every agency in Hampden County All counseling agencies in Massachusetts

Help in Spanish near Palmer Town

3 of the 3 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 Town

In HUD’s record, no housing authority with an office in Hampden County is named for Palmer Town or Hampden County.

5 other authorities have an office in Hampden County: see the list Source: HUD

Cities

Other cities in Hampden County

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

Everything about Hampden County Housing in Massachusetts

Nearby cities

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

Neighboring counties

If Hampden County 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 Town.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Palmer Town

Short answers with the numbers for Palmer Town and all of Hampden County. 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 Town?

The typical home value in Palmer Town is $271,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hampden County it is $298,800.

How much does it cost to rent in Palmer Town?

Typical rent in Palmer Town is $1,075 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hampden County is $1,800.

What is the FHA loan limit in Palmer Town?

Palmer Town uses the FHA limit for all of Hampden County (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 Town?

The typical homeowner in Palmer Town pays $4,540 a year, according to the U.S. Census Bureau. That is 1.67% of the home’s value; in Hampden County, the rate is 1.49%.

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

There are 4 HUD-approved counseling agencies with an office in Hampden County. 4 say they serve in Spanish. 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).