Cost of Living in Palm Bay, Florida
Palm Bay has a population of about 130,132. The median household income is $72,614, median gross rent is $1,601/month, and the median home value is $283,200. These figures come from 2020-2024 ACS 5-Year estimates, the latest full-coverage Census baseline for U.S. cities.
How current is this? Census city data is released with a lag because it is survey-based and designed for consistent coverage across small and large places. Use it as an official affordability baseline; current apartment listings and mortgage rates may differ.
Is Palm Bay expensive to live in?
Compared with the national median in this dataset, rent in Palm Bay is about the national median and home values are 24% below the national median. Household income here is 14% below the national median. Monthly rent represents roughly 26% of the median annual household income, a rough affordability signal for renters.
Frequently asked questions
What is the average rent in Palm Bay?
The median gross rent in Palm Bay, Florida is $1,601 per month in the 2020-2024 ACS 5-Year estimates.
What is the median home price in Palm Bay?
The median owner-occupied home value in Palm Bay is $283,200 in the 2020-2024 ACS 5-Year estimates.
How much do people earn in Palm Bay?
The median household income in Palm Bay is $72,614 per year in the 2020-2024 ACS 5-Year estimates.
Data source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database last refreshed 2026-07-11.