Median rent is 28% lower in Melbourne ($1,411/mo vs $1,965/mo). Buying is cheaper in Melbourne, where the median home runs $272,900 versus $532,100. Households earn more in Palm City ($117,689 vs $64,504 a year). Overall, the two cities have a nearly identical cost of living index (114.4).
City A
Melbourne, FL
City B
Palm City, FL
How much would you need to earn in Palm City, FL to maintain your standard of living from Melbourne, FL?
Equivalent salary in Palm City, FL
$75,000
Costs are about the same in both cities.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Melbourne
Florida
Palm City
Florida
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Melbourne — median rent of $1,411/mo versus $1,965/mo in Palm City, a 28% difference. Home buyers face a steeper market in Palm City: the median home is $532,100 versus $272,900 in Melbourne — 49% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Florida and Florida have no state income tax — a notable advantage for workers in both cities. Sales tax is 6.00% in Florida and 6.00% in Florida; Palm City has the lower rate (local add-ons may apply in both).
Melbourne
Income tax: None
Sales tax: 6.00%
Palm City
Income tax: None
Sales tax: 6.00%
Air quality data is not yet available for these cities.
Pick Palm City if you prioritize higher median household income ($117,689/yr).
Pick Melbourne if you prioritize cheaper rent ($1,411/mo median).
Is Melbourne cheaper than Palm City?
Melbourne is cheaper overall, with a cost of living index of 114.4 versus 114.4 (US average = 100). That means prices run about 0% lower in Melbourne.
How much is rent in Melbourne vs Palm City?
Median rent is $1,411/mo in Melbourne, FL and $1,965/mo in Palm City, FL. Melbourne, FL has the lower rent by about 28%.
Which has higher salaries — Melbourne or Palm City?
Median household income is $64,504 in Melbourne, FL and $117,689 in Palm City, FL. Palm City, FL has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Melbourne or Palm City?
Both Florida and Florida have no state income tax.
What salary do I need in Palm City to match my Melbourne income?
To maintain the same purchasing power, a salary of $100,000 in Melbourne, FL is equivalent to roughly $100,000 in Palm City, FL (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology