Housing
Home prices and rent in Palm Bay
Median home values, rents and incomes from the U.S. Census Bureau, compared with Florida and the U.S.
Census geography: Palm Bay city, Florida. These survey estimates are not current listing prices.
Palm Bay vs. Florida and the U.S.
| Palm Bay | Florida | U.S. | |
|---|---|---|---|
| Median home value | $283,200 | $359,000 | $332,700 |
| Median rent (monthly) | $1,601 | $1,669 | $1,413 |
| Median household income | $72,614 | $74,568 | $80,734 |
| Homes owned by occupants | 80% | 68% | 65% |
| Median year built | 1993 | 1988 | 1980 |
Ten years of change
| 2014 | 2019 | 2024 | |
|---|---|---|---|
| Median home value | $101,800 | $155,200 | $283,200 |
| Median rent (monthly) | $929 | $1,059 | $1,601 |
| Median household income | $43,064 | $51,408 | $72,614 |
Fair Market Rents (HUD, fiscal year 2027)
Palm Bay-Melbourne-Titusville, FL MSA · Brevard County. HUD's payment benchmarks for housing programs: typical gross rent (rent plus utilities) for a recent mover, not a listing or an asking rent.
Large figures are the metro-area Fair Market Rent; green figures are the range across 8 Palm Bay ZIP codes, where HUD sets Small Area Fair Market Rents.
Income limits (HUD, fiscal year 2026)
Area median family income: $97,000. Households at or under these incomes can qualify for many housing programs; check each program's own rules.
| Household size | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Low income (80%) | $55,800 | $63,800 | $71,750 | $79,700 | $86,100 | $92,500 | $98,850 | $105,250 |
| Very low income (50%) | $34,900 | $39,850 | $44,850 | $49,800 | $53,800 | $57,800 | $61,800 | $65,750 |
| Extremely low income (30%) | $20,950 | $23,950 | $27,320 | $33,000 | $38,680 | $44,360 | $50,040 | $55,720 |
Source: U.S. Department of Housing and Urban Development, Fair Market Rents and Income Limits, checked October 9, 2026.
Questions
What is the median home value in Palm Bay?
$283,200, according to the Census Bureau’s 2024 American Community Survey (5-year estimates), compared with $359,000 in Florida and $332,700 nationally.
How much is rent in Palm Bay?
Median gross rent (rent plus utilities) is $1,601 a month, versus $1,669 statewide.
How much have home values risen in Palm Bay?
The median home value went from $101,800 in 2014 to $283,200 in 2024 (+178%).
What is fair market rent in Palm Bay?
HUD's fiscal year 2027 Fair Market Rent for the Palm Bay-Melbourne-Titusville, FL MSA is $1,327 for a studio, $1,525 for one bedroom and $1,779 for two bedrooms; across Palm Bay's ZIP codes, two-bedroom values run $1,250 to $2,170. These are HUD program benchmarks, not asking rents.
Are these current market prices?
No. They are survey medians from the Census Bureau, based on a five-year survey period, so they lag today’s listings. They are the most consistent way to compare places and track change over time.
U.S. Census Bureau, American Community Survey 5-year estimates (2014, 2019, 2024), Palm Bay city, Florida. Values are estimates with margins of error.