Cost of Living in Palmyra, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
79.5
100 = national avg
-20.5 vs national average
Living Wage (1 Adult)
$34,996
per year
Living Wage (Family of 4)
$82,718
per year
Cost Index by Category
Housing73.4
Food88.1
Transportation76.2
Healthcare90.5
Utilities87.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,047
per month
2 Bedroom
$1,272
per month
The overall cost of living index in Palmyra is 79.5, which is 20.5% below the national average. Housing costs are below the national average at an index of 73.4. A single adult needs to earn approximately $34,996 per year to cover basic expenses.