Living here
Cost of living in Palm Bay
Housing is close to the US average. Rents, home prices, taxes and how far a paycheck goes.
Median rent
$1,487/mo
10% above US
Median home value
$248,000
18% below US
Median household income
$67,521
14% below US
Rent as share of income
26%
US 21%
Home price to income
3.7×
US 3.9×
Sales tax
7%
Rent by number of bedrooms
HUD 2027 fair market rents for Palm Bay-Melbourne-Titusville, FL MSA (gross rent including utilities, near the 40th percentile of local rents). Source: HUD USER.
How Palm Bay compares
- Palm Bay$1,487
- Florida$1,564
- United States$1,348
- Orlando$1,650
- Daytona Beach$1,239
- Delray Beach$1,914
- Fort Myers$1,442
- Pembroke Pines$1,910
- Hialeah$1,558
- Miami Beach$1,733
- Gainesville$1,214
- Palm Bay$248,000
- Florida$325,000
- United States$303,400
- Orlando$359,000
- Daytona Beach$244,300
- Delray Beach$386,700
- Fort Myers$351,600
- Pembroke Pines$411,700
- Hialeah$359,200
- Miami Beach$542,000
- Gainesville$235,000
Taxes
Compare with nearby cities
Life in Palm Bay
Questions
Is Palm Bay expensive to live in?
Housing in Palm Bay is close to the national average: median rent is $1,487 (10% above US) and the median home value is $248,000 (18% below US).
How much is rent in Palm Bay?
The median gross rent is $1,487 a month. HUD’s 2027 fair market rents for the area are studio $1,327, 1 bedroom $1,525, 2 bedrooms $1,779, 3 bedrooms $2,382, 4 bedrooms $2,707.
How much of their income do renters spend in Palm Bay?
At the median, a year’s rent ($17,844) equals about 26% of the median household income ($67,521); nationally it’s about 21%.
What are taxes like in Palm Bay?
Sales tax is 7% and property taxes run about 0.62% of home value a year.
Sources: U.S. Census Bureau, American Community Survey 2019–2023 5-year estimates; HUD fair market rents; Florida Department of Revenue - Discretionary Sales Surtax Information for Calendar Year 2026 (DR-15DSS, R. 11/25).