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The total population of Palmyra is estimated to be 7,437 with 3,577 males (48.10%) and 3,860 females (51.90%). There are 283 more females than males in Palmyra.
The median household income in Palmyra was $85,107 in 2021, which marked an an increase of 2,147(2.59%) from $82,960 in 2020. This income is 114.08% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Palmyra sees its highest median household income among householders in the age group of 25 to 44 years old, at $116,911. Overall, the median household income for the borough of Palmyra stands at $85,107.
In Palmyra, the median income for all workers aged 15 years and older, regardless of work hours, was $48,414 for males and $44,272 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $74,683 for males and $64,725 for females.
In Palmyra, there are just three different racial groups among households. Among these, Two or More Races households report a median household income of $148,833, followed by White households at $91,247, and Black or African American households with a median household income of $58,382.
In 2022, the population of Palmyra was 7,470, a 0.42% increase year-by-year from 2021. Previously, in 2021, Palmyra's population was 7,439, an increase of 0.07% compared to a population of 7,434 in 2020.
The median age in Palmyra, NJ is 40.9, as per 2021 ACS 5-Year Estimates. Of the total population, 14.74% were under the age of 15, 21.36% aged 15 to 29, 49.40% aged 30 to 64, 13.58% aged 65 to 84, and 0.92% were 85 years of age and older.
Racial distribution of Palmyra population: 70.17% are White, 18.52% are Black or African American, 1.70% are Asian, 3.50% are some other race and 6.11% are multiracial.