Cost of Living in Palm Bay, FL
Population 125,273 · Florida · Data vintage 2023
(100 = US avg)
Palm Bay lands reasonably close to national benchmarks on most cost indicators, with a median home value of $248,000 — 19% below the US figure. That makes it a useful reference point for comparing with more extreme markets in Florida.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Palm Bay
The median home value in Palm Bay is $248,000 — 19% below the national median of $305,000. Median rent runs $1,487/month, 13% higher than the national median of $1,314/month. The median household income of $67,521/year is 9% lower than the US median of $74,580. The local unemployment rate is 5.9%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Palm Bay has a cost of living index of 94 versus the US average of 100, meaning it is 6% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Palm Bay, FL?
Palm Bay has a cost index of 94 (100 = national average). It is 6% below the national average.
What is average rent in Palm Bay, FL?
The median gross rent in Palm Bay is $1,487 per month based on 2023 Census data.
What is the average home price in Palm Bay?
The median home value in Palm Bay is $248,000 according to Zillow and Census data.
What is the median income in Palm Bay?
The median household income in Palm Bay is $67,521 per year (2023 ACS 5-year estimates).
What is the sales tax in Palm Bay, FL?
The combined state and local sales tax rate in Palm Bay is 7.0%. Florida has no state income tax.
Is Palm Bay, FL affordable?
Palm Bay is near the national average in terms of cost of living, with an index of 94 (100 = US average).
Palm Bay at a Glance
- Population
- 125,273
- Median Income
- $67,521
- Home Value
- $248,000
- Median Rent
- $1,487/mo
- Unemployment
- 5.9%
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
Florida Rankings
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