Cost of Living in Palm Bay, FL
Population: 125,273 • 2026 Data
$67,521
Median Household Income
-13% vs national
$1,487
Median Monthly Rent
+10% vs national
$248,000
Median Home Value
-27% vs national
5.9%
Unemployment Rate
Housing in Palm Bay
The median home value in Palm Bay, FL is $248,000. Monthly rent for a typical unit averages $1,487, while total monthly housing costs (including utilities and insurance) average $1,203.
Rent-to-income ratio: 26.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Palm Bay, FL is $67,521. The unemployment rate stands at 5.9%, with a labor force of 61,386 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.