Cost of Living in Palm Bay, Florida
In Palm Bay, the median household income is $72,614 and the median gross rent is $1,601/mo, with a median home value of $283,200. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $72,614
- Median gross rent
- $1,601/mo
- Median home value
- $283,200
- Population
- 130,132
How Palm Bay compares to the Florida average
| Measure | Palm Bay, FL | Florida statewide | Difference |
|---|---|---|---|
| Median household income | $72,614 | $74,568 | -2.6% |
| Median gross rent (monthly) | $1,601 | $1,669 | -4.1% |
| Median home value | $283,200 | $359,000 | -21.1% |
Statewide, Florida prices average 103.4 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Palm Bay
- Salary needed for median rent
- $64,040
- Rent burden at median income
- 26.5%
- Est. affordable home price
- $264,891
So that $1,601/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Palm Bay is $283,200 — +6.9% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Florida cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.