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Palm Bay

Palm Bay

Located in Brevard County

$314,682 Average Value
$195 Average Price per Sq Ft
1273 Homes For Sale

Brevard County's largest city continues to grow

The central Florida city of Palm Bay has traveled light years from its origins as a small agricultural community with orange and banana groves to become a center of expansion on Florida’s Space Coast. Today, the city of more than 140,000 is home to Patrick Space Force Base and is conveniently located minutes from West Melbourne's tech and aerospace hub. “We’re the largest city in Brevard County, not only in population but also in land mass, so there’s a lot of space for growth,” says Nancy Peltonen, president and CEO of the Greater Palm Bay Chamber of Commerce.

Residential development continues in Palm Bay, which has annexed land in recent years to make room for new infrastructure projects. “They’re building left and right in Palm Bay. There are so many homes to choose from,” says Tammy Brown, a real estate agent with Atlantic Group Real Estate. “There are around 4,500 listings in Brevard County and about 2,000 are in Palm Bay. If you’re looking for brand new construction at a great price, you can’t really beat Palm Bay.”

Palm Bay, with over 140,000 residents, is home to Patrick Space Force Base.
Palm Bay, with over 140,000 residents, is home to Patrick Space Force Base.
Palm Bay is just minutes from West Melbourne's aerospace and tech hub.
Palm Bay is just minutes from West Melbourne's aerospace and tech hub.
Residential development in Palm Bay continues, with annexed land in recent years.
Residential development in Palm Bay continues, with annexed land in recent years.
For brand-new construction at a great price, Palm Bay is unbeatable.
For brand-new construction at a great price, Palm Bay is unbeatable.
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Nearby West Melbourne tech sector provides an array of employment opportunities

Palm Bay’s growth is directly related to its proximity to the employment hub in neighboring West Melbourne. Several Northrop Grumman facilities anchor a collection of companies concentrated around the Melbourne Orlando International Airport, another major employer, about 6 miles away. Other companies represented include Lockheed Martin, Boeing, Raytheon, Collins Aerospace and L3Harris, a technology firm and defense contractor headquartered in West Melbourne. “Palm Bay is a place where people move who either work remotely or work in West Melbourne,” Brown says. “It’s more of a bedroom community, even though it is massive.”

As employment opportunities bring more residents to Palm Bay, the city has responded by annexing land for mixed-use development projects. The signature project is Ashton Park, located just east of Interstate 95 along the county’s tech corridor. Plans for the $2.5 billion project include 6 million square feet of commercial space, with more than 1 million set aside for a 50-acre downtown district, and approximately 3,700 single-family homes. Construction is slated to begin in 2025.

Palm Bay's growth is linked to its proximity to the employment hub in West Melbourne.
Palm Bay's growth is linked to its proximity to the employment hub in West Melbourne.
Several Northrop Grumman facilities anchor a cluster of companies near Palm Bay.
Several Northrop Grumman facilities anchor a cluster of companies near Palm Bay.
A major employer in Palm Bay is the Melbourne Orlando International Airport.
A major employer in Palm Bay is the Melbourne Orlando International Airport.
Palm Bay has annexed land for mixed use development, highlighted by Ashton Park.
Palm Bay has annexed land for mixed use development, highlighted by Ashton Park.
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Demand is strong as homebuyers are attracted to lower prices

Residential expansion is evident in the many new communities. “There’s a lot of new construction in Palm Bay and more and more developments with an HOA, which was not a thing in the past here,” says David Jelinek, a broker associate with EXP Realty. Model homes line densely populated but walkable streets in these communities. Older housing is an eclectic mix of single-family homes spread throughout the city in non-HOA settings, many of them featuring spacious lots. Even some of the post-2000 homes are free of HOA fees and restrictions. The city also offers settings that cater to 55-plus and equestrian communities.

One thing to keep in mind when buying a home is that certain areas are not connected to city water and sewer. Home prices range from the low $200,000s to the low $900,000s. Condos and townhouses are concentrated on the city’s northeast side in proximity to the Indian River. Prices range from the low $100,000s for an inland option to the mid-$600,000s for a riverfront unit. The city’s median sales price is about $350,000, lower than the national median of $420,000. “Demand is very strong, and prices are modest in Palm Bay,” says Jelinek, who has been selling homes in Brevard for 36 years. “People are attracted to it because prices are lower than other cities in Brevard County.”

In neighboring Melbourne, the median sales price exceeds $400,000. Property taxes do tend to be higher, though, because the mostly residential city does not have a dedicated business sector contributing to the tax base. Palm Bay has traditionally avoided major flooding. However, the remnants of Hurricane Milton recently forced 467,000 gallons of sewage out of a broken sewer pipe and into neighborhood waterways. The incident prompted calls for infrastructure improvements amid continued growth. Insurance rates are likely to reflect the risk of severe weather, especially during hurricane season.

A beautiful new contemporary home reflects the residential expansion in Palm Bay.
A beautiful new contemporary home reflects the residential expansion in Palm Bay.
Many older homes in Palm Bay offer spacious lots and no HOA.
Many older homes in Palm Bay offer spacious lots and no HOA.
Condos and townhouses are concentrated on Palm Bay's northeast side, near the Indian River.
Condos and townhouses are concentrated on Palm Bay's northeast side, near the Indian River.
People are drawn to Palm Bay homes due to their modest prices.
People are drawn to Palm Bay homes due to their modest prices.
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Fred Poppe Regional Park, Turkey Creek Sanctuary are recreational highlights

More than two dozen parks and recreational centers are spread across the city. Fred Poppe Regional Park is a 200-acre green space on the city’s western edge that is the center of organized youth activity for baseball, softball and soccer. Its diverse amenities also include a disc golf course, a dog park and four lakes for fishing. The park is also home to the Ted Whitlock Community Center and hosts signature annual events such as the Strawberry Festival and Christmas Extravaganza. The coastal side of the city features several shorefront parks along the Indian River Lagoon. For more rural recreation, Turkey Creek Sanctuary Park is a city attraction that features almost 2 miles of boardwalk through natural habitats. Visitors can also take advantage of Blackwater Creek for fishing and kayaking. Oceanside parks offer more waterfront activity on the nearby barrier island of Melbourne Beach. However, easy access to the coast is limited in much of Palm Bay. “It’s kind of land-locked,” Brown says. “Depending on where you live in Palm Bay, it might take 45 minutes to get to the beach.”

Fred Poppe Regional Park is a 200-acre green space on Palm Bay's western edge.
Fred Poppe Regional Park is a 200-acre green space on Palm Bay's western edge.
Fred Poppe Regional Park offers a wide variety of activities for Palm Bay residents.
Fred Poppe Regional Park offers a wide variety of activities for Palm Bay residents.
Visitors to Turkey Creek Sanctuary in Palm Bay often spot manatees and turtles.
Visitors to Turkey Creek Sanctuary in Palm Bay often spot manatees and turtles.
Blackwater Creek is a great spot for Palm Bay residents to enjoy kayaking.
Blackwater Creek is a great spot for Palm Bay residents to enjoy kayaking.
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Classical Academy charter school is rated A-minus

Classical Academy is the city’s highest-rated institution. The K-12 public charter school, rated A-minus by Niche, follows a classical education curriculum with an emphasis on “virtuous living, traditional learning and civic responsibility.” Most of the city’s schools are rated between B and B-plus. Brevard County offers limited school choice. One of the six schools to which eligible students can transfer is West Melbourne Elementary School of Science, a K-6 institution that earns an A-minus from Niche.

Pineapple Cove Classical Academy is the top-rated institution in Palm Bay.
Pineapple Cove Classical Academy is the top-rated institution in Palm Bay.
West Melbourne Elementary School earns an A- score from niche.
West Melbourne Elementary School earns an A- score from niche.
The mission of Palm Bay Elementary School is to provide authentic learning experiences.
The mission of Palm Bay Elementary School is to provide authentic learning experiences.
The large entrance to Bayside High School welcome students to class.
The large entrance to Bayside High School welcome students to class.
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Nearby downtown Melbourne is a popular gathering place

Shopping and dining options are found primarily at shopping centers and strip malls. Big-box retailers, grocery stores and restaurants are concentrated along the Interstate 95, Palm Bay Road and Babcock Street commercial corridors. Waterfront dining is available on the riverfront. The city does not have a formal downtown area, but Melbourne’s downtown district is a popular draw. “It’s very historic in its architecture and aesthetic, but it has tons of little cool shops, restaurants and bars,” Brown says. “My husband and I like to go there on a Saturday for a beer and have something to eat. It’s a great place to go.”

Shopping and dining options in Palm Bay are primarily found in strip malls.
Shopping and dining options in Palm Bay are primarily found in strip malls.
Big box retailers and grocery stores are primarily located along Interstate 95 in Palm Bay.
Big box retailers and grocery stores are primarily located along Interstate 95 in Palm Bay.
Waterfront dining is available along the riverfront in Palm Bay.
Waterfront dining is available along the riverfront in Palm Bay.
Enjoy brick oven style pizza from Mister 01 in Downtown Melbourne.
Enjoy brick oven style pizza from Mister 01 in Downtown Melbourne.
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Growth has created traffic problems

The biggest issue to arise from the city’s rapid and ongoing growth is traffic. The city is expected to extend Saint Johns Parkway to help alleviate traffic, but the city does not have the transportation infrastructure to effectively support its expanding population. It is not particularly bike- or pedestrian-friendly, and public options are limited to Space Coast Area Transit buses and carpool programs. Interstate 95, which runs through a portion of the city’s northeast side, provides access to Melbourne and other cities along the coast. Health First’s Palm Bay Hospital is the primary medical center. It is located about a mile east of I-95.

Crime

According to the latest numbers from the FBI's Crime Date Explorer, the rates of violent crime and property crime have held steady from 2021 through 2023. Violent crime remains somewhat higher than the national average, while property crime is significantly lower.

Matt Pallister
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Matt Pallister
Joseph Van Bemmel
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Joseph Van Bemmel
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Matt Ferguson

Interested in learning more about homes in this area? Reach out to Karla Cesin Galindez, an experienced agent in this area.

Agents Specializing in this Area

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Schools

Source:
GreatSchools: The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process. View GreatSchools Rating Methodology

Parks in this Area

Palm Bay Housing Trends

Housing Trends

Median List Price
$345,000
Median Sale Price
$326,378
Median Single Family Sale Price
$335,000
Median Townhouse Sale Price
$193,500
Median 2 Bedroom Sale Price
$152,460
Median Change From 1st List Price
3%
Last 12 months Home Sales
3,420
Median Home Sale Price YoY Change
-1%
Average Price Per Sq Ft
$195

Area Facts

Number of Homes in Neighborhood
46,987
Number of Homes for Sale
1,273
Median Year Built
1991
Months of Supply
4.50
Average Single Family Home Size Sq Ft
1,671
Below the national average
1,924
Average Townhouse Size Sq Ft
1,199
Average 2 Bedroom Size Sq Ft
1,024
Average 1 Bedroom Size Sq Ft
670
Median Lot Size Sq Ft
10,018

Open Houses

  • Sunday, Sep 7
    Open Sun 11AM - 1PM

    3531 Plume Way SE, Palm Bay, FL 32909

    $325,000

    • 3 Beds
    • 2 Baths
    • 2,198 Sq Ft
    • 3531 Plume Way SE

    Enjoy peaceful pond views from this beautifully designed home, where comfort and elegance come together. The renovated kitchen features granite countertops and a stunning backsplash, perfect for everyday living or entertaining. A spacious living room flows into a fabulous Florida room overlooking the water, while the formal dining room—easily used as an office or library—adds versatility. Soaring

    Agent Photo
    Margaret Reynolds
    RE/MAX Aerospace Realty
    (321) 850-2306
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  • Saturday, Sep 6
    Open Sat 12PM - 2PM

    2178 Redwood Cir NE, Palm Bay, FL 32905

    $294,900

    • 3 Beds
    • 2 Baths
    • 1,292 Sq Ft
    • 2178 Redwood Cir NE
    • New 6 days ago

    Welcome to this lovely 3 bed, 2 bath, 2 car garage home! Beautifully landscaped property, fully wood fenced PRIVATE BACK YARD with pavered patio. Inground Generac NATURAL GAS GENERATOR capable of powering the entire house. Hurricane roll down SHUTTERS operated from the house interior covering all doors and windows. ROOF 3 years old. Large screened porch with roll down blinds. Beautiful arches

    Nick Farinella Coldwell Banker Realty

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  • Saturday, Sep 6
    Open Sat 12PM - 3PM

    154 Wading Bird Cir SW, Palm Bay, FL 32908

    $485,000

    • 5 Beds
    • 4 Baths
    • 3,467 Sq Ft
    • 154 Wading Bird Cir SW
    • New 17 days ago

    Step inside this beautifully maintained and SPACIOUS 5 bedroom, 4 bathroom home spanning just under 3,500 square feet of living space!!! This property features a 3-car garage, a huge fully fenced yard overlooking scenic lake views and a large loft area perfect for a home theatre! The formal dining, living, and family rooms offer all of the space you can imagine - ideal for family, friends and

    BreeAnnah Owen Arium Real Estate, LLC

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Homes for Sale

Homes for Rent

Distribution of Home Values

Source: Public Records

Average Home Value





Source: Public Records

Neighborhoods in Palm Bay

Property Mix - Square Feet

Palm Bay Has More Owners

Demographics

Total Population
131,587
Median Age
42
Population under 18
22.6%
On par with the national average
23.8%
Population over 65
21.3%
On par with the national average
19.1%

Finances

Median Household Income
$56,584
Significantly below the national average
$71,702
Average Household Income
$72,882

Education and Workforce

High School Graduates
89.1%
College Graduates
21%
Below the national average
34.1%
Advanced Degrees
7.2%
Below the national average
13.3%
% Population in Labor Force
60.8%

Weather

Annual Precipitation
51''
Average Winter Low Temperature
54°F
Average Summer High Temperature
91°F
Annual Snowfall
0''

Area Factors

Bikeable

Bike Score®®

52 / 100

Car-Dependent

Walk Score®®

30 / 100
Source: Walk Score
Source: Walk Score

Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address. CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Palm Bay