Palm Bay, FL
Population 125,273 · Florida
About Palm Bay, FL
Palm Bay is a major city in Florida with a population of 125,273 residents. The median household income is $67,521 per year, which is near the national average. The median age in Palm Bay is 41.3 years.
Housing in Palm Bay has a median home value of $248,000 and median monthly rent of $1,487. Of the 48,826 total housing units, the majority are owner-occupied, with 35,259 owner-occupied and 9,173 renter-occupied units.
The unemployment rate in Palm Bay is 5.9% and the poverty rate is 11.5%. 22.6% of residents hold a bachelor's degree or higher. The average commute time is 27.6 minutes.
How Palm Bay Ranks in Florida
Cost of Living in Palm Bay, FL
Compared to national averages, Palm Bay has a median household income of $67,521 (10% below the national median of $75,149). Home values average $248,000, which is 1% above the national median. Monthly rent at $1,487 is 28% above the US average of $1,163. Within Florida, Palm Bay's income is 11% below the state average of $75,893, and home values are 30% below the state median of $353,675.
Why Live in Palm Bay, FL?
Palm Bay offers a low poverty rate of 11.5%, better than the national average.
Potential considerations include median household income ($67,521) that falls below the national average. However, as a major city, Palm Bay provides access to a wide range of amenities and services.
Palm Bay has a population of 125,273 with a median age of 41.3 years. Compare Palm Bay with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Palm Bay
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lehigh Acres | 127,391 | $62,330 | $263,200 | Compare |
| West Palm Beach | 119,508 | $69,261 | $369,800 | Compare |
| Spring Hill | 118,814 | $66,557 | $248,400 | Compare |
| Clearwater | 117,075 | $64,440 | $326,100 | Compare |
| Lakeland | 117,030 | $60,947 | $229,100 | Compare |
| Coral Springs | 133,962 | $90,643 | $502,700 | Compare |
| Brandon | 116,365 | $77,068 | $293,800 | Compare |
| Miramar | 135,986 | $86,109 | $420,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Palm Bay
What is the population of Palm Bay, FL?
The population of Palm Bay, FL is 125,273 according to the latest Census data.
What is the median household income in Palm Bay?
The median household income in Palm Bay, FL is $67,521 per year.
What is the median home value in Palm Bay?
The median home value in Palm Bay, FL is $248,000.
What is the average rent in Palm Bay?
The median monthly rent in Palm Bay, FL is $1,487.
What is the unemployment rate in Palm Bay?
The unemployment rate in Palm Bay, FL is 5.9%.