Palm Bay, Florida has an overall cost of living index of 113.7, which is 13.7 points above the US average of 100 — making it pricier than most American cities. Renters pay a median of $1,601 per month, while the typical home is valued around $283,200. Households earn a median of $72,614 per year, leaving rent at a manageable share of income for many residents. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
Median Household Income
$72,614
Annual · Census ACS
Median Gross Rent
$1,601
Per month · Census ACS
Median Home Value
$283,200
Census ACS
Cost of Living Index
113.7
BEA RPP · US avg = 100
Studio FMR
$1,266
HUD Fair Market Rent
1BR Fair Market Rent
$1,478
HUD FMR
2BR Fair Market Rent
$1,709
HUD FMR
3BR Fair Market Rent
$2,330
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is indexed to the US average of 100. Below 100 = cheaper than average.
Overall
113.7
Goods
104.9
Rents / Housing
177.6
Services
135.5
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | $175,170 |
| 🏥Registered Nurse | $132,600 |
| 📚Elementary Teacher | $92,450 |
| ⚡Electrician | $76,110 |
| 📊Accountant | $101,160 |
| 🔧Plumber | $70,430 |
| ⚕️Nurse Practitioner | $205,670 |
| 🏗️Civil Engineer | $117,750 |
| 👔Operations Manager | $129,580 |
| 📈Market Research Analyst | $90,620 |
| 🏢Health Services Manager | $136,930 |
| 🚛Truck Driver | $58,480 |
| 👨⚕️Physician Assistant | N/A |
| 🩺Surgeon | N/A |
| 🧮Data Scientist | N/A |
| 🖥️Computer Engineer | $136,130 |
Source: BLS OEWS 2023 (metro-level data)
Population
130,132
Latest estimate
Median Age
41 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,730
Per month
Avg Home Value
$299,267
Census ACS
January Avg
62°F
July Avg
82°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Subtropical · Source: NOAA/NCEI 30-year normals.
Healthcare Score
30.1
poor
Hospitals
1
Doctors per 1,000
1.00
Insurance Coverage
87.2%
What is the cost of living index for Palm Bay?
Palm Bay has a Regional Price Parity (RPP) index of 113.7. The US national average is 100, so Palm Bay is 13.7 points above the national average.
What is the median rent in Palm Bay?
The median gross rent in Palm Bay is $1,601 per month according to US Census ACS data.
What is the median household income in Palm Bay?
The median household income in Palm Bay is $72,614 per year.
What is the median home value in Palm Bay?
The median home value in Palm Bay is $283,200 based on the latest Census ACS survey.
How is the air quality in Palm Bay?
Air quality data for Palm Bay is not yet available.
What are the taxes like in Palm Bay?
Tax data for Florida is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
