Palm Bay, FL, US
Space Coast city on the Indian River Lagoon with affordable housing and outdoor recreation.
Overview
Palm Bay is a city in FL with a population of 115,000. Space Coast city on the Indian River Lagoon with affordable housing and outdoor recreation. Housing costs are close to the national average. Gardening thrives here — the 7a growing zone supports Mild — wide variety of vegetables, many fruit trees.
Last updated: September 12, 2026
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
- Farming Zone: USDA Zone 7a
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 | $113 | 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) | $70 | Broadband average |
| Garbage / Trash | $30 | Private service |
| Total Utilities | $287 | Monthly estimate (including heating & cooling) |
Data sources: U.S. Energy Information Administration (EIA) 2024, EPA/AWWA water rate surveys, BroadbandNow
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" |
Mild — wide variety of vegetables, many fruit trees
Natural Hazards
Palm Bay faces the following natural hazards:
Frequently affected by hurricanes.
Extreme summer heat.
Coastal flooding.
Wildfire risk in dry season.
Tornado risk from hurricanes.
Periodic drought conditions.
Based on historical records and geographic risk assessment.
Taxes
- State Income Tax: 0% (None)
- Sales Tax: 7%
- Property Tax: ~0.91% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 3.8%.
Schools & Education
Data source: National Center for Education Statistics (NCES)
Demographics
The population of Palm Bay is diverse. The figures below show the ethnic, educational, and religious composition of the local population.
Ethnicity
Education
Religion
Data source: US Census Bureau American Community Survey (ACS) (2023)
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: September 13, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.