Cost of Living in Palmer, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
68.2
100 = national avg
-31.8 vs national average
Living Wage (1 Adult)
$30,014
per year
Living Wage (Family of 4)
$70,943
per year
Cost Index by Category
Housing22.9
Food96.3
Transportation92.7
Healthcare97.1
Utilities82.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$700
per month
2 Bedroom
$919
per month
The overall cost of living index in Palmer is 68.2, which is 31.8% below the national average. Housing costs are below the national average at an index of 22.9. A single adult needs to earn approximately $30,014 per year to cover basic expenses.