Palm Bay housing market
Typical home value
$342K
▼ 0.5% 1 yr
Typical rent
$1,887/mo
▲ 1.6% 1 yr
12-month forecast
−0.7%
#503 of 546 metros
Gross rent yield
6.6%
#170 of 546 · U.S. 6.3%
Days to pending
69 days
▼ −8 days 1 yr
Listings with a price cut
29%
▼ −1.5 pts 1 yr
Key takeaways
- 1The typical home is worth $342,339, down 0.5% in a year and up 16% over five years.
- 2Zillow forecasts home values falling 0.7% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,887/mo (+1.6% YoY), a 6.6% gross yield, above the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,881/mo in principal and interest, $6 less than renting.
- 5Homes go under contract in 69 days (−8 days vs last year); 29% of listings have had a price cut.
Market temperature
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 35/100, #354 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Palm Bay compares
| Measure | Palm Bay | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | −0.5% | +1.2% | #478 |
| Home value, 5-yr change | +15.7% | +19.7% | |
| 12-month forecast | −0.7% | +1.1% | #503 |
| Rent, 1-yr change | +1.6% | +2.7% | #445 |
| Gross rent yield | 6.6% | 6.3% | #170 |
| Price-to-rent ratio | 15.1 | 15.8 | |
| Mortgage P&I on typical home | $1,881 | $2,012 | |
| Income needed to buy | $99,755 | $100,902 | |
| Days to pending | 69 | 56 |
Cities in the Palm Bay metro
11 cities with home value and rent data.
| Melbourne | $358K | ▼ 0.5% | $1,841 | ▲ 0.7% | 6.2% |
| Palm Bay | $303K | ▼ 1.2% | $1,842 | ▲ 1.9% | 7.3% |
| Cocoa | $297K | ▲ 0.5% | $1,778 | ▲ 3.6% | 7.2% |
| Titusville | $272K | ▼ 0.3% | $1,585 | ▲ 1.0% | 7.0% |
| Rockledge | $397K | ▼ 0.3% | $1,952 | ▲ 2.3% | 5.9% |
| Merritt Island | $430K | ▲ 0.8% | $2,221 | ▲ 3.9% | 6.2% |
| West Melbourne | $372K | ▼ 0.8% | $1,922 | ▲ 0.8% | 6.2% |
| Satellite Beach | $516K | ▲ 0.8% | $2,726 | ▲ 4.6% | 6.3% |
| Cocoa Beach | $456K | ▲ 0.3% | $2,496 | ▲ 5.6% | 6.6% |
| Indian Harbour Beach | $454K | ▲ 1.5% | $2,175 | ▲ 2.3% | 5.7% |
| Cape Canaveral | $318K | ▼ 1.2% | $1,886 | ▲ 1.5% | 7.1% |
Run the numbers
Rental property calculator
Cash flow on a typical Palm Bay rental ($342K, $1,887/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Palm Bay home.
Rent vs buy
Is it cheaper to rent or buy in Palm Bay?
Renting out a property in Florida? See deposit limits, late fee rules and notice periods.
Other Florida metros
Miami, FL
$477K home$2,654 rent6.7% yield
▲ 0.3% 1 yr
Tampa, FL
$357K home$1,991 rent6.7% yield
▼ 0.9% 1 yr
Orlando, FL
$383K home$1,929 rent6.0% yield
▼ 1.4% 1 yr
Jacksonville, FL
$351K home$1,680 rent5.8% yield
▼ 0.1% 1 yr
North Port, FL
$404K home$2,106 rent6.3% yield
▼ 2.0% 1 yr
Cape Coral, FL
$334K home$1,827 rent6.6% yield
▼ 3.5% 1 yr
Lakeland, FL
$296K home$1,814 rent7.4% yield
▼ 2.2% 1 yr
Deltona, FL
$331K home$1,767 rent6.4% yield
▼ 0.3% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.