Cost of Living Breakdown
Housing & Income in Palm Bay
About Living in Palm Bay
Palm Bay offers some of Florida's most affordable Space Coast housing, with easy access to beaches, Kennedy Space Center, and a growing tech corridor.
With a cost of living index of 91, Palm Bay is 9% below the US average and 14 points below the Florida average of 105. The median household income of $55,000 supports a home-price-to-income ratio of 5.5x — above the recommended 4–5x threshold.
FAQ
Common questions about cost of living in Palm Bay
What is the cost of living in Palm Bay, FL?
Palm Bay's overall cost of living index is 91 compared to the US average of 100. Housing (91) is the main driver, with groceries at 98, healthcare at 96, transportation at 99, and utilities at 97.
Is Palm Bay affordable to live in?
Yes — Palm Bay is considered affordable by Florida standards, with a COL index of 91. Median rent is $1,600/mo and the median home price is $300,000.
How does Palm Bay compare to the Florida average?
Palm Bay's COL index of 91 is 14 points below the Florida average of 105. It's one of Florida's more budget-friendly options.