Real Estate Market Data for Melbourne, FL
Brevard County Real Estate - Melbourne
The City of Melbourne is located on east central Florida's Space Coast. Melbourne is about an hour's drive south of the Kennedy Space center, and 1-1/2 hours due east of Disney World. The City is in the southern portion of Brevard County. Interstate-95 runs through the county from north-to-south. Access roads from the west include the Beach line Expressway (formerly the Beeline) and US. 192, which runs through Melbourne to the beaches.
While most of Melbourne is located on the Florida mainland, a small portion is located on a barrier island. The Indian River Lagoon separates the mainland from the island. The island is a narrow strip of land that separates the Lagoon from the Atlantic Ocean. Spanning the Indian River Lagoon to connect the mainland to the barrier island are a pair of four-lane, high-rise bridges -- the Melbourne Causeway and the Eau Gallie Causeway.
The City is approximately 41 square miles in size, with about 75% of that land in use. The City of Melbourne population was 78,427 as of April 1, 2010, according to the University of Florida Bureau of Economic and Business Research. The population of Melbourne continues to grow at a modest rate. Melbourne is located at the center of a much larger urban area, the Palm Bay-Melbourne-Titusville, Florida Metropolitan Statistical Area.
Melbourne International Airport serves Florida's Space and Treasure Coasts with domestic and international passenger and air freight service. Melbourne International Airport is served by carriers including Delta Airlines and US Airways. The Airport also provides services including charter passenger flights, private aviation, and air freight flights. International services include U.S. Customs, I.N.S., and U.S.D.A.
The city was named Melbourne in honor of its first postmaster, Cornthwaite John Hector, an Englishman who had spent much of his life in Melbourne, Australia.
Melbourne contains defense and technology companies with a high concentration of high-tech workers. The following corporations have operations in Melbourne:
- DRS Technologies
- General Electric Transportation Systems and GE Energy Automation
- HarrisCorporation (including corporate headquarters)
- Northrop Grumman employed 1,640 workers in 2009
- Rockwell Collins employed 1,430 in 2009
- Embraer completed a 89,000 square feet hanger and administrative office at the Melbourne Airport in February 2011.
- Live TV has its headquarters in Melbourne
Melbourne has two downtown business districts, a result of the merger of Eau Gallie into Melbourne:
- Downtown Eau Gallie Arts District
- Historic Downtown Melbourne. Among other retail outlets, this has 26 eating and drinking establishments within a four block extent.
Melbourne is in East Central Florida. It's population as recorded in the 2010 Census was 76,068.
The median age for residents of Melbourne is 43.3. Around 23.5% of Melbourne households include school aged children and 32.4% of households include individuals aged 65 years or over. Census records indicate 80.9% of the Melbourne population are White, 10.3% are Black or African American, .3% American Indian, 3.1% Asian and 3.1% are Two or more Races.
There are 38,955 housing units in Melbourne. 4,915 (12.6%) of these were reported as vacant in the 2010 Census. There are 15,728 residential rental units in Melbourne. 13,725 of them were occupied in 2010 providing a residential rental vacancy rate of 12.5%.
Melbourne is located in Brevard County. It has a population of approximately 76,068 people. The population increased 1.1% from 2010 to 2012. This compared to a 2.7% increase for the State of Florida, 0.7% for Brevard County and a 1.7% increase for the country as a whole. Melbourne occupies 33.86 of the 1015.66 square miles in Brevard County. It had a population density of 2246.4 persons per square mile in 2010. This compared to 535 for the county, 350.6 for Florida and 87.4 for the country.
14.4% ( 38,955) of the 270,512 housing units in Brevard County are in Melbourne (a housing unit is defined by the US Census Bureau as a house, apartment, mobile home, group of rooms, or single room that is occupied as separate living quarters.) Melbourne has a 62.7% homeownership rate compared to Brevard County's 75.3% homeownership rate and Florida's rate of 69.0%.
2010 to 2012
2007 to 2011
Melbourne's medium household income in 2011 was $42,089. Brevard County's medium household income was $50,068, which is higher than the medium income for Florida as a whole: $47,827. 14.4% of the population in Melbourne lives below the poverty line, compared to 14.7% in Florida, 11.2% of the population in Brevard County and 14.3% nationwide. Additional Information:
Melbourne Economic Activity
The U.S. Bureau of the Census, Economic Census, 2007 calculated the total value manufacturing, merchant wholesaler, retail sales and food service sales in Melbourne. The Census measured activity of large and medium-sized firms during calendar year 2007. It does not include every aspect of the economy but can be used as a measure of economic activity.
At $5,321 million, Melbourne's economic activity represents 33.12% of Brevard County's $16,070MM in economic activity. Brevard County represents 2.55% of the Florida economy.
|Merchant wholesaler sales||$676||12.7%|
|Accommodation and food services sales||$166||3.1%|
Brevard County Regional Comparisons
2010 to 2012
2007 to 2011
Brevard County is located in East Central Florida. This region is responsible for 17.0% of Florida's economic activity. Brevard County represents 15.0% of the region's economy.
2010 to 2012
2007 to 2011
Melbourne Real Estate
There are 70,381 properties in Melbourne. The following table shows a summary of them based on 2013 sales data.
|Usage Type||Property Count||%||Sales Count||Median Price||Median Price/Ft||Sales From||To|
|Agricultural||86||0.12||1||$198,400||$88||February 1st, 2013||February 1st, 2013|
|Hotel & Motel||33||0.05||2||$593,650||$38||February 1st, 2013||July 1st, 2013|
|Industrial||1,589||2.26||22||$150,000||$103||January 1st, 2013||July 1st, 2013|
|Mobile/Manufactured||3,090||4.39||47||$37,900||$41||January 1st, 2013||August 1st, 2013|
|Multifamily||4,531||6.44||108||$22,600,000||$1,997||January 1st, 2013||August 1st, 2013|
|Office||1,586||2.25||58||$637,500||$481||January 1st, 2013||August 1st, 2013|
|Residential||52,630||74.78||2,329||$125,000||$79||January 1st, 2013||September 1st, 2013|
|Retail||3,190||4.53||72||$1,470,350||$858||January 1st, 2013||July 1st, 2013|
|Senior Housing||73||0.10||2||$3,480,000||$31||June 1st, 2013||June 1st, 2013|
|Special Purpose||739||1.05||1||$450,000||$114||February 1st, 2013||February 1st, 2013|
|Sports & Entertaining||699||0.99||0||n/a||n/a||n/a||n/a|
Agricultural Real Estate in Melbourne, Florida
86( .12%) of the properties in Melbourne are classified as Agricultural. 1 of them sold between February 1st, 2013 and February 1st, 2013. The total value of these sales was $198,400. The median sales price was $198,400. In 2013 the median sales price for Agricultural in Melbourne was $88 per sq ft.
Commercial Real Estate in Melbourne, Florida
0( .00%) of the properties in Melbourne are classified as Commercial.
Government Real Estate in Melbourne, Florida
2,063( 2.93%) of the properties in Melbourne are classified as Government.
Health Care Real Estate in Melbourne, Florida
33( .05%) of the properties in Melbourne are classified as Health Care.
Hotel & Motel Real Estate in Melbourne, Florida
33( .05%) of the properties in Melbourne are classified as Hotel & Motel. 2 of them sold between February 1st, 2013 and July 1st, 2013. The total value of these sales was $1,187,300. The median sales price was $593,650. In 2013 the median sales price for Hotel & Motel in Melbourne was $38 per sq ft.
Industrial Real Estate in Melbourne, Florida
1,589( 2.26%) of the properties in Melbourne are classified as Industrial. 22 of them sold between January 1st, 2013 and July 1st, 2013. The total value of these sales was $12,048,400. The median sales price was $150,000. In 2013 the median sales price for A Class Industrial in Melbourne was $200 per sq ft, B Class properties sold for $103/ft and C Class $26/ft.
Miscellaneous Real Estate in Melbourne, Florida
39( .06%) of the properties in Melbourne are classified as Miscellaneous.
Mobile/Manufactured Real Estate in Melbourne, Florida
3,090( 4.39%) of the properties in Melbourne are classified as Mobile/Manufactured. 47 of them sold between January 1st, 2013 and August 1st, 2013. The total value of these sales was $1,784,100. The median sales price was $37,900. In 2013 the median sales price for A Class Mobile/Manufactured in Melbourne was $63 per sq ft, B Class properties sold for $41/ft and C Class $22/ft.
Multifamily Real Estate in Melbourne, Florida
4,531( 6.44%) of the properties in Melbourne are classified as Multifamily. 108 of them sold between January 1st, 2013 and August 1st, 2013. The total value of these sales was $1,753,315,400. The median sales price was $22,600,000. In 2013 the median sales price for A Class Multifamily in Melbourne was $1,997 per sq ft, B Class properties sold for $1,997/ft and C Class $91/ft.
Office Real Estate in Melbourne, Florida
1,586( 2.25%) of the properties in Melbourne are classified as Office. 58 of them sold between January 1st, 2013 and August 1st, 2013. The total value of these sales was $130,038,300. The median sales price was $637,500. In 2013 the median sales price for A Class Office in Melbourne was $1,499 per sq ft, B Class properties sold for $481/ft and C Class $114/ft.
Residential Real Estate in Melbourne, Florida
52,630( 74.78%) of the properties in Melbourne are classified as Residential. 2,329 of them sold between January 1st, 2013 and September 1st, 2013. The total value of these sales was $782,895,263. The median sales price was $125,000. In 2013 the median sales price for A Class Residential in Melbourne was $118 per sq ft, B Class properties sold for $79/ft and C Class $37/ft.
Residential Real Estate in Melbourne, Florida
0( .00%) of the properties in Melbourne are classified as Residential.
Retail Real Estate in Melbourne, Florida
3,190( 4.53%) of the properties in Melbourne are classified as Retail. 72 of them sold between January 1st, 2013 and July 1st, 2013. The total value of these sales was $218,509,600. The median sales price was $1,470,350. In 2013 the median sales price for A Class Retail in Melbourne was $1,349 per sq ft, B Class properties sold for $858/ft and C Class $69/ft.
Senior Housing Real Estate in Melbourne, Florida
73( .10%) of the properties in Melbourne are classified as Senior Housing. 2 of them sold between June 1st, 2013 and June 1st, 2013. The total value of these sales was $6,960,000. The median sales price was $3,480,000. In 2013 the median sales price for Senior Housing in Melbourne was $31 per sq ft.
Special Purpose Real Estate in Melbourne, Florida
739( 1.05%) of the properties in Melbourne are classified as Special Purpose. 1 of them sold between February 1st, 2013 and February 1st, 2013. The total value of these sales was $450,000. The median sales price was $450,000. In 2013 the median sales price for Special Purpose in Melbourne was $114 per sq ft.
Sports & Entertaining Real Estate in Melbourne, Florida
699( .99%) of the properties in Melbourne are classified as Sports & Entertaining.
Melbourne, Brevard County Market Data
Melbourne Median Property Values per Sq Ft
|Class A||Class B||Class C|
|1/2 Duplex Used As Sfr||2013||129||10||109||10||78||10|
|Airport (private or commercial), bus terminal, marine terminal, pier or marina.||2013||560||21||116||11||114||6|
|Auto sales, auto repair and storage or auto service shop||2013||233||29||179||14||113||7|
|Bowling alley, skating rink, pool hall or enclosed arena||2013||53||25||53||11||53||5|
|Campground (Trailers, Campers & Tents)||2013||106||25||106||11||106||5|
|Cannery, fruit and vegetable, bottler or brewers, distillery or winery||2013||82||14||51||8||51||5|
|Church Owned Educational Building||2013||213||21||107||11||107||6|
|Club, lodge or union hall||2013||114||21||114||11||114||6|
|Clubs, Lodges, And Union Halls||2013||213||25||107||11||107||5|
|Co-Op Manufactured Home - Improved||2013||98||8||43||5||30||4|
|Co-Op Manufactured Housing Rental Lot W/Improvements (With Manufactured Home)||2013||98||8||43||5||30||4|
|Co-Op With Site Improvements||2013||17||8||17||5||17||4|
|Commercial Improvement Not Suitable For Occupancy||2013||324||14||324||8||324||5|
|Commercial Related Amenities||2013||324||21||324||11||324||6|
|Commercial Shell Bldg (Condo)||2013||324||14||324||8||324||5|
|Community Shopping Center||2013||173||29||36||14||36||7|
|Concrete / Asphalt Plant||2013||106||14||106||8||106||5|
|Condominium - Manufactured Home Park||2013||98||8||43||5||30||4|
|Condominium - Store||2013||17||29||17||14||17||7|
|Condominium - Warehousing||2013||213||14||107||8||107||5|
|Condominium Not Suitable For Occupancy||2013||98||10||43||10||30||10|
|Condominium Office Unit||2013||876||25||439||16||211||10|
|Convalescent Home (Nursing Home)||2013||213||23||107||15||107||9|
|Convenience Store With Gas Pump||2013||324||29||324||14||324||7|
|Country Club / Support Facilities||2013||106||25||106||11||106||5|
|County Owned Land-Improved (That Does Not Qualify In Another Code)||2013||213||8||107||5||107||4|
|County Owned Land-Vacant (That Does Not Qualify In Another Code)||2013||213||8||107||5||107||4|
|Day Care Center||2013||876||23||439||15||211||9|
|Dealership Sales / Service Center||2013||106||29||106||14||106||7|
|Enclosed theater or auditorium||2013||53||25||53||11||53||5|
|Extended Stay Or Suite Hotel||2013||106||51||106||20||106||6|
|Fast Food Restaurant||2013||858||29||858||14||858||7|
|Financial Institution - Branch Facility||2013||858||29||858||14||858||7|
|Financial institution (bank, saving and loan company, mortgage company, credit services)||2013||424||29||423||14||423||7|
|Florist or greenhouse||2013||53||29||53||14||53||7|
|Fraternity Or Sorority Home||2013||213||21||107||11||107||6|
|Garage / Auto-Body /Auto Paint Shop||2013||106||29||106||14||106||7|
|Garden Apartments - 1 Story - 50 Units And Up||2013||129||15||109||9||78||5|
|Golf course or driving range||2013||53||25||53||11||53||5|
|Grazing Land - Soil Capability Class Ii Vacant||2013||213||24||107||13||107||8|
|Grazing Land - Soil Capability Class Ii With Buildings Other Than Residence||2013||213||24||107||13||107||8|
|Grazing Land - Soil Capability Class Ii With Residence||2013||213||24||107||13||107||8|
|Grazing land soil capability Class II||2013||88||24||88||13||88||8|
|Grazing land soil capability Class III||2013||88||24||88||13||88||8|
|Home For The Aged||2013||213||13||107||9||107||5|
|Home for the aged||2013||37||13||26||9||26||5|
|Hospital -General-Privately Owned||2013||213||23||107||15||107||9|
|Hotel or motel||2013||49||51||28||20||28||6|
|House And Mobile Home||2013||17||8||17||5||17||4|
|Improved Commercial Common Area||2013||324||21||324||11||324||6|
|Improved Residential Common Area||2013||129||10||109||10||78||10|
|Light Manufacturing,Small Equipt.Mfg. Plants,Sm.Machine Shops,Instrument Mfg.,||2013||106||14||106||8||106||5|
|Limited Service Hotel||2013||106||51||106||20||106||6|
|Low Rise Apartments- 50 Units And Up- 2 Or 3 Stories||2013||129||15||109||9||78||5|
|Lumber yard, sawmill or planing mill||2013||82||14||51||8||51||5|
|Manuf. Housing Park - 10 To 25 Spaces Rentals||2013||106||8||106||5||106||4|
|Manuf. Housing Park - 101 To 150 Spaces Rentals||2013||106||8||106||5||106||4|
|Manuf. Housing Park - 151 To 200 Spaces Rentals||2013||106||8||106||5||106||4|
|Manuf. Housing Park - 201 & More Spaces Rentals||2013||106||8||106||5||106||4|
|Manuf. Housing Park - 26 To 50 Spaces Rentals||2013||106||8||106||5||106||4|
|Manuf. Housing Park - 51 To 100 Spaces Rentals||2013||106||8||106||5||106||4|
|Manufactured Housing Rental Lot With Improvements (No Manufactured Home)||2013||129||8||109||5||78||4|
|Mineral Processing, Phosphate Processing Refinery, Clay Plant, Rock & Gravel||2013||106||14||106||8||106||5|
|Mineral processing, cement plant,refinery, clay plants or gravel plant||2013||82||14||51||8||51||5|
|Miscellaneous Residential (migrant camp or boarding home.)||2013||21||51||17||20||15||6|
|Mixed Use- Commercial Property||2013||324||14||324||8||324||5|
|Mixed use - store and office or store and residential or residential combination||2013||173||29||36||14||36||7|
|Mortuary, cemetery or crematorium||2013||114||21||114||11||114||6|
|Multi-Family Improvement Not Suitable For Occupancy||2013||17||15||17||9||17||5|
|Multi-family - 10 units or more||2013||40||15||40||9||40||5|
|Multi-family - less than 10 units||2013||218||15||91||9||48||5|
|Multiple Living Units (5 To 9 Units)||2013||17||15||17||9||17||5|
|Multiple Living Units (5 To 9 Units)-Not Attached||2013||17||15||17||9||17||5|
|Night Clubs, Cocktail Lounges, Bars||2013||106||25||106||11||106||5|
|Nightclub, cocktail lounge or bar||2013||53||25||53||11||53||5|
|Nurserys-With Buildings Other Than Residence||2013||213||24||107||13||107||8|
|Office Building- Multi Tenant- 1 Story||2013||876||25||439||16||211||10|
|Office Building- Multi Tenant- 2 Or More Stories||2013||876||25||439||16||211||10|
|Office Building- Single Tenant- 1 Story||2013||324||25||324||16||324||10|
|Office Building- Single Tenant- 2 Or More Stories||2013||876||25||439||16||211||10|
|Office building, non-professional service building, multi-story||2013||847||25||847||16||847||10|
|Office building, non-professional service building, one story||2013||452||25||156||16||90||10|
|Open Storage, New And Used Building Supplies, Junk Yards, Auto Wrecking,Fuel||2013||213||14||107||8||107||5|
|Open storage (building supplies, auto wrecking, fuel, equipment or material storage)||2013||200||14||100||8||32||5|
|Ornamentals, miscellaneous agricultural||2013||88||24||88||13||88||8|
|Orphanage, other non-profit or charitable services||2013||37||21||26||11||26||6|
|Parking Lot - Patron||2013||106||29||106||14||106||7|
|Parking lot (commercial or patron) or mobile home park||2010||397793097||20||468757||25||544||39|
|Poultry, bees, tropical fish, rabbits, etc.||2013||88||24||88||13||88||8|
|Private school or college||2013||88||21||88||11||88||6|
|Privately owned hospital||2013||88||23||88||15||88||9|
|Professional Building- Multi Tenant- 1 Story||2013||876||25||439||16||211||10|
|Professional Building- Multi Tenant- 2 Or More Stories||2013||876||25||439||16||211||10|
|Professional Building- Single Tenant- 1 Story||2013||876||25||439||16||211||10|
|Professional service building||2013||560||25||116||16||114||10|
|Public county school||2013||114||31||114||13||114||6|
|Race track: horse, auto or dog||2013||53||25||53||11||53||5|
|Radio Or Tv Station||2013||876||21||439||11||211||6|
|Regional Shopping Center||2013||173||29||36||14||36||7|
|Regional Shopping Mall||2013||324||29||324||14||324||7|
|Repair service shop (excluding automotive)||2013||106||29||35||14||35||7|
|Residential Improvement Not Suitable For Occupancy||2013||129||10||109||10||78||10|
|Residential Related Amenities||2013||129||10||109||10||78||10|
|Restaurant / Cafeteria||2013||876||29||439||14||211||7|
|Retail Drugstore - Not Attached||2013||17||29||17||14||17||7|
|Retail Store - Multiple Units||2013||324||29||324||14||324||7|
|Retail Store- 1 Unit||2013||17||29||17||14||17||7|
|Retirement Home not eligible for exemption.||2013||21||13||17||9||15||5|
|Sanitarium or convalescent rest home||2013||114||23||114||15||114||9|
|School -Private-Church Owned||2013||213||21||107||11||107||6|
|Service Shop, Radio & T.V. Repair, Refrigeration Service,Paint Shop, Elec||2013||106||29||106||14||106||7|
|Shopping Complex - Community/ Neighborhood||2013||324||29||324||14||324||7|
|Single Family Residence||2013||129||10||109||10||78||10|
|Store, one story||2013||375||29||140||14||46||7|
|Three Or Four Living Units - Not Attached||2013||17||10||17||10||17||10|
|Tourist attraction, permanent exhibit or other entertainment facilities||2013||53||25||53||11||53||5|
|Two Residential Units - Not Attached||2013||17||10||17||10||17||10|
|Used Automobile Sales||2013||106||29||106||14||106||7|
|Warehouse - Flex Space||2013||213||14||107||8||107||5|
|Warehouse Discount Store||2013||324||29||324||14||324||7|
|Warehousing, Distribution_Terminal, Trucking Terminal, Van & Storage||2013||151||14||151||8||151||5|
|Warehousing, distribution terminal, trucking terminal, or van and storage warehousing||2013||200||14||100||8||32||5|
|Wholesale outlet, produce house or manufacturing outlet||2013||233||29||179||14||113||7|