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.


Housing Size

Housing Units by Size
Studio Type0.80%
One Bedroom6.60%
Two Bedrooms26.50%
Three Bedrooms57.10%
Four Bedrooms8.50%
Five Bedrooms or more0.60%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.65
Median year structure was built1986
Median Value of occupied units$78,300
Median Price asked for vacant units$69,500

Rented Homes, Apartments and Condos

Average Household Size2.48
Median year structure was built1984
Median Monthly Rent asked for vacant units$533

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.20%
Second Mortgage10.70%
Home Equity Loan5%
Simple Mortgage63.90%
Debt Free20.20%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs19.8%