Palm Bay, FL Real Estate
According to census data in the year 2000 there were 32,929 housing units in Palm Bay.
This represents a 25.3% growth from 26,273 in 1990.
Of those housing units, 32,421 were located in either urbanized areas or urban clusters, and 508 were located in what is classified as a rural area.
Homeownership rate in Palm Bay is about 75.4%.
Palm Bay's vacancy rate, including seasonal lodging, is about 7.8%.
Average household size is 2.6 people.
The majority of houses, apartments or condos in Palm Bay were built after 1985.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 0.80% |
| One Bedroom | 6.60% |
| Two Bedrooms | 26.50% |
| Three Bedrooms | 57.10% |
| Four Bedrooms | 8.50% |
| Five Bedrooms or more | 0.60% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.65 |
| Median year structure was built | 1986 |
| Median Value of occupied units | $78,300 |
| Median Price asked for vacant units | $69,500 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.48 |
| Median year structure was built | 1984 |
| Median Monthly Rent asked for vacant units | $533 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.20% |
| Second Mortgage | 10.70% |
| Home Equity Loan | 5% |
| Simple Mortgage | 63.90% |
| Debt Free | 20.20% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 19.8% |
