Palmer, MA

Below Avg · 81

Massachusetts · Population 12,372 · Updated March 2026

$1,041
Median Rent / Month
$78,789
Median Income
$255,000
Median Home Value
$1,300
Owner Costs / Month

Affordability

How far your income goes in Palmer

15.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Massachusetts

State-level tax rates that affect your costs

9.0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.15%
Property Tax Rate

Estimated Annual Costs

$12,492
Annual Rent
$7,091
State Income Tax
$2,932
Property Tax (est.)

Cost of Living Overview

Palmer is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 81 (where 100 equals the national median), Palmer residents can expect to pay median rent of $1,041/month while earning a median household income of $78,789/year.

The median home value in Palmer, MA is $255,000, with typical monthly owner costs around $1,300 including mortgage, insurance, and taxes. The median rent-to-income ratio of 15.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Massachusetts's top income tax rate of 9.0% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.25% sales tax rate and 1.15% effective property tax rate, the overall tax environment is a factor in the total cost of living in Palmer.

Frequently Asked Questions

Common questions about living costs in Palmer

What is the cost of living in Palmer, MA?
The cost of living index in Palmer, MA is 81 (US average = 100). Median monthly rent is $1,041, median household income is $78,789/year, and the median home value is $255,000.
Is Palmer, MA affordable?
Yes, Palmer is more affordable than the national average with a cost index of 81. The rent-to-income ratio is 15.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Palmer, MA?
The median gross rent in Palmer, MA is $1,041 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,492.
What is the median household income in Palmer?
The median household income in Palmer, MA is $78,789 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Massachusetts?
Massachusetts has a top income tax rate of 9.0%, a sales tax of 6.25%, and an effective property tax rate of 1.15%.