Palm Bay, FL, US
Space Coast city on the Indian River Lagoon with affordable housing and outdoor recreation.
Below Average vs US Avg (100)
Affordable
Household income
Job market health
Palm Bay vs US Average
Taxes
- State Income Tax: None
- Sales Tax: 7.0%
Economy & Jobs
- Median Income: $52,000
- Unemployment: 3.8%
- Population: 115,000
Climate
- Sunny Days: 235/year
- Summer High: 90°F
- Winter Low: 58°F
Housing
- Median Home: $280,000
- 1BR Rent: $1200/mo
Cost of Living
Palm Bay's cost of living index is 95 (US average = 100).
| Category | Palm Bay | National Average | Difference |
|---|---|---|---|
| Overall | 95 | 100 | -5.0% |
| Housing | 100 | 100 | 0.0% |
Data source: Council for Community and Economic Research (C2ER), 2026
Housing Market
| Metric | Value |
|---|---|
| Median Home Price | $280,000 |
| Median Rent (1BR) | $1200/mo |
| Median Rent (2BR) | $1,500/mo |
| Price per Sq Ft | $186 |
Data source: Zillow Research, 2026
True Cost of Home Ownership
Utilities
Estimated monthly utility costs for a typical household in Palm Bay:
| Utility | Estimated Monthly Cost | Notes |
|---|---|---|
| Electricity | $110 | Based on ~900 kWh/month typical US household usage |
| Heating & Cooling | N/A | Estimated based on local climate. Gas or electric |
| Cooling (AC) | $19 | Estimated based on local climate and electricity rates |
| Water | $55 | Includes sewer |
| Internet (100+ Mbps) | $60 | Broadband average |
| Garbage / Trash | $25 | Private service |
| Total Utilities | $269 | Monthly estimate (including heating & cooling) |
Data sources: U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow
Best Neighborhoods
Downtown Palm Bay
The heart of the city with restaurants, shops, and entertainment. Average rent: $1,440/mo.
Palm Bay Heights
Trendy area with local businesses and a mix of historic and modern housing. Average rent: $1,320/mo.
East Palm Bay
Up-and-coming neighborhood with new developments and young professionals. Average rent: $1,080/mo.
West Palm Bay
Family-friendly area with parks and good schools. Average rent: $1,140/mo.
Remote Work Score
Palm Bay scores —/100 for remote work readiness:
Climate
Palm Bay has a varied climate with distinct seasons.
| Month | Avg High | Avg Low | Rainfall |
|---|---|---|---|
| January | 78°F | 58°F | 2.5" |
| April | 75°F | 73°F | 2.8" |
| July | 90°F | 65°F | 1.5" |
| October | 70°F | 76°F | 2.2" |
Taxes
- State Income Tax: 0% (None)
- Sales Tax: 7%
- Property Tax: ~0.85% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 3.8%.
Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.
Frequently Asked Questions
What is the cost of living in Palm Bay, FL, US?
The cost of living index in Palm Bay is 95, which is Lower the US national average of 100.
How much does it cost to buy a home in Palm Bay?
The median home price in Palm Bay is $280,000. The housing index is 100.
What is the average rent for a 1-bedroom apartment?
The average rent for a 1-bedroom apartment in Palm Bay is approximately $1200/mo.
Does Palm Bay, FL have income tax?
Palm Bay is in FL, which has no income tax.
What is the climate like in Palm Bay?
Palm Bay enjoys approximately 235 sunny days per year. Summer highs reach around 90°F, while winter lows can drop to around 58°F.
Data Sources
- Cost of Living: Council for Community and Economic Research (C2ER), 2026
- Housing Data: Zillow Research, 2026
- Income & Employment: US Census Bureau American Community Survey, 2024
- Utilities U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow
Data last updated: July 20, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.