salaryRent is higher than in 61% of U.S. cities. A typical house costs about 3.6 years of household income. Most homes (79.7%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $74,800 a year. That is $36 an hour at a full-time job.
Is rent cheaper than other Florida cities?
Yes. Rent here is cheaper than in most of Florida. It is number 191 of 479 cities from cheapest to most expensive.
How much do households earn in Palm Bay?
Share of households by yearly income. 20.6% of households earn $100,000 or more.
Rent by apartment size in Palm Bay
| Size | Palm Bay | U.S. average |
|---|---|---|
| Studio | $1,335 | $1,338 |
| 1 bedroom | $1,335 | $1,324 |
| 2 bedrooms | $1,573 | $1,509 |
| 3 bedrooms | $1,860 | $1,698 |
| 4 bedrooms | $2,262 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Palm Bay overall?
Everyday prices in the Palm Bay-Melbourne-Titusville metro area are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Palm Bay
Life in Palm Bay
What jobs pay in Palm Bay
| Job | Median pay | Rent / pay |
|---|---|---|
| Pharmacist | $134,070 | 16.7% |
| Software Developer | $131,760 | 17.0% |
| Lawyer | $129,640 | 17.3% |
| Physician Assistant | $124,190 | 18.1% |
| Nurse Practitioner | $120,870 | 18.6% |
| Computer Systems Analyst | $101,940 | 22.0% |
| Operations Manager | $101,830 | 22.0% |
| Civil Engineer | $100,640 | 22.3% |
| Dental Hygienist | $95,400 | 23.5% |
| Registered Nurse | $80,900 | 27.7% |
| Accountant | $75,860 | 29.6% |
| Market Research Analyst | $73,350 | 30.6% |
| Elementary School Teacher | $62,510 | 35.9% |
| Licensed Practical Nurse | $61,000 | 36.8% |
| Police Officer | $60,520 | 37.1% |
| Plumber | $59,780 | 37.5% |
| Electrician | $58,450 | 38.4% |
| HVAC Technician | $57,240 | 39.2% |
| Truck Driver | $48,460 | 46.3% |
| Carpenter | $47,770 | 47.0% |
| Firefighter | $43,850 | 51.2% |
| Medical Assistant | $38,830 | 57.8% |
| Customer Service Representative | $37,760 | 59.4% |
| Warehouse Worker | $37,680 | 59.6% |
| Nursing Assistant | $37,070 | 60.5% |
| Restaurant Cook | $36,750 | 61.1% |
| Server (Waiter/Waitress) | $36,670 | 61.2% |
| Retail Salesperson | $33,430 | 67.1% |
| Cashier | $30,390 | 73.8% |
Is it cheaper to rent or buy in Palm Bay?
Renting is cheaper right now: about $95 a month less.
Owning assumes a typical $283,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $28,320 for the down payment.
Frequently asked questions
What is the average rent in Palm Bay, FL?
Renting in Palm Bay costs a median of about $1,870 a month in 2026, including utilities. The Florida median is $1,963.
How much do I need to make to live in Palm Bay?
To keep rent under 30% of income, you need about $74,800 a year, or $36 an hour at a full-time job.
Is Palm Bay cheap or expensive?
Palm Bay is rated OK: rent takes 28.7% of the typical household income of $78,314. It ranks 191st cheapest of 479 Florida cities we track.
How much are property taxes in Palm Bay?
The median homeowner in Palm Bay pays $1,726 a year in property taxes, about 0.61% of the median home value.
Is Palm Bay more expensive than the national average?
Overall prices in the metro area are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Palm Bay?
The median home value in Palm Bay is $283,200, about 3.6 times the typical yearly household income.
130,132 people live in Palm Bay. Numbers are typical (middle) values.