Home prices
The median home cost in Palm Bay is $155,200. In comparison to nearby areas this is roughly $97,780 (38%) lower.In comparison to the rest of the country it is roughly $62,300 (28%) lower, and in comparison to the city of Orlando is approximately $84,800 (35%) lower.
Rents
The median monthly rent in Palm Bay is $1,059. Compared to nearby areas this is approximately $128 (10%) lower.Compared to the rest of the country it is is very similar, and compared to the city of Orlando is about $137 (11%) lower.
Nearby places
Malabar
Malabar is Palm Bay's neighbor to the northeast. The real estate prices there are a lot more expensive. Malabar's median home cost is $266,500, which comes out to $111,300 (41%) higher than Palm Bay. The rent there is somewhat more expensive. Malabar's median rent is $1,362 a month, which works out to $303 (22%) higher than Palm Bay.
Grant-Valkaria
Grant-Valkaria is Palm Bay's neighbor to the east. Its housing prices are a lot more expensive. Grant-Valkaria's median home price is $319,400, which comes out to $164,200 (51%) higher than Palm Bay. The rent there is a bit less expensive. Grant-Valkaria's median rent is $977 a month, which works out to $82 (8%) lower than Palm Bay.
West Melbourne
West Melbourne is Palm Bay's neighbor to the north. Its housing prices are somewhat more expensive. The median home in West Melbourne is valued at $224,400, which comes out to $69,200 (30%) higher than Palm Bay. The rent there is a little more expensive. The median rent in West Melbourne is $1,349 a month, which comes out to $290 (21%) higher than Palm Bay.
June Park
June Park is about 9 miles north of Palm Bay. Real estate prices there are somewhat more expensive. The median home in June Park is valued at $204,600, which works out to $49,400 (24%) higher than Palm Bay. Rents there are a bit more expensive. The median rent in June Park is $1,295 per month, which works out to $236 (18%) higher than Palm Bay.
Melbourne Village
Melbourne Village is approximately 10 miles north from Palm Bay. The housing prices there are substantially more expensive. Melbourne Village's median home price is $250,000, which works out to $94,800 (37%) higher than Palm Bay. Rents there are a little less expensive. Melbourne Village's median rent is $950 a month, which works out to $109 (11%) lower than Palm Bay.
