Palm Bay, FL Relocation Guide (2026)
Cost of living, housing, and income data for Palm Bay, sourced from the US Census Bureau.
Salary needed to live in Palm Bay →
Source: US Census Bureau ACS 5-Year (2022). Last updated July 2026.
Roughly 121,513 people call Palm Bay, Florida home. Household income runs $62,538 at the median, below what we see across the broader set of cities (-13%).
Housing costs are a defining factor for anyone relocating to Palm Bay. The median home value sits at $226,200 (below the multi-city median at -31%), while renters pay a median of $1,345 per month. Buyers should weigh current mortgage rates and local property taxes against these figures before committing.
Palm Bay's home-price-to-income ratio of about 3.6× is fairly typical — housing costs track reasonably in line with local pay. The market has cooled around Palm Bay: home prices are down about 0.76% compared with a year ago. Palm Bay carries a Relatively High hazard rating from FEMA — elevated risk that's typically reflected in higher insurance premiums.
Personal Affordability Check
Renting at $1,345/mo in Palm Bay would take 25.8% of your income.
$218/mo under the 30% guideline.
Buying the median home ($226,200) would take 23.2% of your income toward principal & interest.
$252/mo under the 28% guideline.
Cost of housing in Palm Bay
Median home value is $226,200 and median gross rent is $1,345/month. For buyers, monthly costs depend heavily on current mortgage rates — worth checking before you commit.
FHFA's county-level home price index for Brevard fell 0.76% over the past year (as of 2025).
HUD's FY 2026 Fair Market Rent for a 2-bedroom unit in the surrounding county is $1,709/month.
Climate & home insurance
FEMA rates Palm Bay's overall natural-hazard risk as Relatively High. Risk level is a major driver of home insurance premiums.
Safety
Palm Bay reported a violent crime rate of 274.8 per 100,000 residents in 2025, per FBI data.
Moving to Palm Bay
Planning a move to Palm Bay? Compare licensed movers and get quotes based on your origin and move date.
Frequently asked questions
- What is the cost of living in Palm Bay, FL?
- For a quick read on Palm Bay: homes carry a median value of $226,200, rent runs a median $1,345 monthly, and household income is a median $62,538, all from the US Census Bureau ACS 5-Year (2022).
- How much do you need to earn to live comfortably in Palm Bay?
- Comfortably affording rent in Palm Bay — where the median runs $1,345/month — typically means earning about $53,800 a year, per the standard 30%-of-income benchmark. See the full salary breakdown (renting and buying) for Palm Bay.
- Is it better to rent or buy in Palm Bay?
- In Palm Bay, comfortably renting the median unit ($1,345/month) takes about $53,800 in annual income, while buying the median home ($226,200) takes roughly $51,753 a year in principal and interest alone (assumes 20% down, a 30-year fixed loan, and current mortgage rates).
- Is Palm Bay safe?
- Per FBI Crime Data Explorer figures, Palm Bay's violent crime rate was 274.8 per 100,000 residents in 2025.
See the full salary breakdown for Palm Bay →
Cities with a similar cost of living
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