House Charts

Palm Bay Housing Market: Home Prices & Rent

Updated September 2026 data · metro area
Palm Bay home values are down 0.5% over the past year, to a typical $342k - 6% below the April 2024 peak. Typical rent is $1,887 a month (+1.6% in a year).
Typical home value
$342k
-0.5% (-$1,554) in 12 months
From the peak
-6%
Peak $365k, Apr 2024
Since Dec 2019
+49%
from $230k
Typical rent
$1,887/mo
+1.6% in 12 months
Income needed to buy
$100k/yr
20% down, 30% of income
Days to go under contract
69
September 2026

Palm Bay home values since 2000

$100k$200k$300k2000200420082012201620202024Peak $365k (Apr 2024)Now $342k

Last few years

$250k$300k$350k20192020202120222023202420252026Peak $365k (Apr 2024)Now $342k

Rent in Palm Bay

$1,000$1,250$1,500$1,750$2,000201520172019202120232025Now $1,887

Owning vs renting, monthly

Buying the typical Palm Bay home with 20% down at this week's 7.32% 30-year rate costs about $2,309/month (principal, interest plus ~1.5% a year for tax and insurance) vs $1,887/month typical rent.

Rate: Freddie Mac, week of Oct 22, 2026. Estimate for comparison only.

What changed this month

Palm Bay vs Florida vs the U.S.

Typical home12-month changeTypical rent
This metro$342k-0.5%$1,887/mo
Florida$375k-0.9%-
United States$366k+1.2%$1,932/mo

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Common questions

Are home prices falling in Palm Bay?

Yes - the typical Palm Bay-area home value is down 0.5% over the past 12 months, at $342k (September 2026). Values are 6% below their April 2024 peak of $365k.

Is the Palm Bay housing market crashing?

Home values are 6% below their April 2024 peak and down 0.5% over the past year - a gradual decline, not a sudden collapse. Whether that continues isn't knowable from the data - this page updates every month when new figures come out.

How much is rent in Palm Bay?

Typical rent in the Palm Bay metro is $1,887 a month (September 2026), +1.6% over 12 months.

How much income do you need to buy a home in Palm Bay?

About $100k a year to afford the typical home with 20% down, spending no more than 30% of income on housing (September 2026).

Nearby and similar metros

Miami, FL · Tampa, FL · Orlando, FL · Jacksonville, FL · North Port, FL · Cape Coral, FL · Albuquerque, NM · Tucson, AZ · Deltona, FL · Grand Rapids, MI

Sources: Data Provided by Zillow Group (Zillow Home Value Index and Zillow Observed Rent Index, September 2026; income needed and listing data). 30-year mortgage rate: Freddie Mac PMMS. Figures are for the Palm Bay, FL metro area. How we calculate.