Palm Bay, Florida
Brevard County Real Estate - Palm Bay
Palm Bay is in East Central Florida. It's population as recorded in the 2010 Census was 103,190.
The median age for residents of Palm Bay is 39.8. Around 33.8% of Palm Bay households include school aged children and 28.7% of households include individuals aged 65 years or over. Census records indicate 72.9% of the Palm Bay population are White, 17.9% are Black or African American, .4% American Indian, 1.7% Asian and 3.5% are Two or more Races.
There are 45,220 housing units in Palm Bay. 5,738 (12.6%) of these were reported as vacant in the 2010 Census. There are 11,507 residential rental units in Palm Bay. 10,117 of them were occupied in 2010 providing a residential rental vacancy rate of 11.7%.
Palm Bay links:
Palm Bay is located in Brevard County. It has a population of approximately 103,190 people. The population increased 0.9% 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. Palm Bay occupies 65.7 of the 1015.66 square miles in Brevard County. It had a population density of 1570.6 persons per square mile in 2010. This compared to 535 for the county, 350.6 for Florida and 87.4 for the country.
16.7% ( 45,220) of the 270,512 housing units in Brevard County are in Palm Bay (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.) Palm Bay has a 77.0% homeownership rate compared to Brevard County's 75.3% homeownership rate and Florida's rate of 69.0%.
| Region | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| United States | 313,914,040 | $14,025,202 | 1.7% | $52,762 | 132,312,404 | $186,200 |
| Florida | 18,801,310 | $630,738 | 2.7% | $47,827 | 9,026,965 | $188,600 |
| Brevard County | 543,376 | $16,070 | 0.7% | $50,068 | 270,512 | $171,200 |
| Palm Bay | 103,190 | $3,806 | 0.9% | $44,768 | 45,220 | $138,600 |
Palm Bay's medium household income in 2011 was $44,768. Brevard County's medium household income was $50,068, which is higher than the medium income for Florida as a whole: $47,827. 13.4% of the population in Palm Bay 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:
Palm Bay 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 Palm Bay. 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 $3,806 million, Palm Bay's economic activity represents 23.69% of Brevard County's $16,070MM in economic activity. Brevard County represents 2.55% of the Florida economy.
| Activity | Value (Millions) | Percentage |
|---|---|---|
| Manufacturers shipments | $2,895 | 76.1% |
| Merchant wholesaler sales | $122 | 3.2% |
| Retail sales | $719 | 18.9% |
| Accommodation and food services sales | $70 | 1.9% |
| Total | $3,806 | 100% |
Brevard County Regional Comparisons
| City | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| Cape Canaveral | 9,912 | $166 | 0.1% | $43,888 | 8,295 | $203,800 |
| Cocoa | 17,140 | $725 | 0.5% | $33,411 | 8,603 | $128,500 |
| Cocoa Beach | 11,231 | $264 | 0.3% | $53,951 | 8,866 | $295,700 |
| Melbourne | 76,068 | $5,321 | 1.1% | $42,089 | 38,955 | $153,400 |
| Merritt Island | 34,743 | $964 | X | $58,528 | 17,036 | $215,700 |
| Mims | 7,058 | $20 | X | $47,161 | 3,530 | $130,900 |
| Palm Bay | 103,190 | $3,806 | 0.9% | $44,768 | 45,220 | $138,600 |
| Palm Bay | 103,190 | $3,806 | 0.9% | $44,768 | 45,220 | $138,600 |
| Rockledge | 24,926 | $495 | 2.0% | $57,835 | 11,240 | $173,900 |
| Satellite Beach | 10,109 | $68 | 1.4% | $60,870 | 4,953 | $238,000 |
| Titusville | 43,761 | $811 | 0.4% | $44,148 | 22,729 | $140,700 |
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.
| Region | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| Brevard County | 543,376 | $16,070 | 0.7% | $50,068 | 270,512 | $171,200 |
| Osceola County | 268,685 | $7,448 | 7.0% | $46,479 | 129,830 | $170,200 |
| Orange County | 1,145,956 | $53,843 | 4.9% | $49,731 | 492,209 | $211,100 |
| Seminole County | 422,718 | $12,124 | 1.9% | $58,908 | 182,625 | $225,500 |
| Lake County | 297,052 | $5,430 | 2.1% | $47,509 | 145,303 | $167,900 |
| Volusia County | 494,593 | $10,951 | 0.5% | $44,169 | 254,981 | $172,100 |
| Sumter County | 93,420 | $1,120 | 8.8% | $44,817 | 55,988 | $186,800 |
| Total | 3,369,551 | $106,985 | 3.7% | $48,812 | 1,531,448 | $186,400 |
Palm Bay Real Estate
There are 46,120 properties in Palm Bay. The following table shows a summary of them based on 2014 sales data.
| Usage Type | Property Count | % | Sales Count | Median Price | Median Price/Ft | Sales From | To |
|---|---|---|---|---|---|---|---|
| Agricultural | 92 | 0.20 | 0 | n/a | n/a | n/a | n/a |
| Commercial Property | 0 | 0.00 | 0 | n/a | n/a | n/a | n/a |
| Government Property | 395 | 0.86 | 2 | $132,000 | $90 | April 1st, 2014 | April 1st, 2014 |
| Health Care | 21 | 0.05 | 0 | n/a | n/a | n/a | n/a |
| Hotel & Motel | 6 | 0.01 | 0 | n/a | n/a | n/a | n/a |
| Industrial | 256 | 0.56 | 6 | $338,000 | $100 | March 1st, 2014 | August 1st, 2014 |
| Miscellaneous Property | 18 | 0.04 | 0 | n/a | n/a | n/a | n/a |
| Mobile/Manufactured | 1,496 | 3.24 | 103 | $40,000 | $42 | January 1st, 2014 | August 1st, 2014 |
| Multifamily | 1,870 | 4.05 | 39 | $7,400,000 | $48 | January 1st, 2014 | July 1st, 2014 |
| Office | 224 | 0.49 | 6 | $559,000 | $67 | April 1st, 2014 | August 1st, 2014 |
| Residential | 41,010 | 88.92 | 2,031 | $82,300 | $57 | January 1st, 2014 | September 1st, 2014 |
| Residential Property | 0 | 0.00 | 0 | n/a | n/a | n/a | n/a |
| Retail | 439 | 0.95 | 12 | $324,000 | $107 | January 1st, 2014 | July 1st, 2014 |
| Senior Housing | 172 | 0.37 | 0 | n/a | n/a | n/a | n/a |
| Special Purpose | 114 | 0.25 | 3 | $550,000 | $115 | May 1st, 2014 | July 1st, 2014 |
| Sports & Entertaining | 7 | 0.02 | 0 | n/a | n/a | n/a | n/a |
Agricultural Real Estate in Palm Bay, Florida
92( .20%) of the properties in Palm Bay are classified as Agricultural.
Commercial Real Estate in Palm Bay, Florida
0( .00%) of the properties in Palm Bay are classified as Commercial.
Government Real Estate in Palm Bay, Florida
395( .86%) of the properties in Palm Bay are classified as Government. 2 of them sold between April 1st, 2014 and April 1st, 2014. The total value of these sales was $264,000. The median sales price was $132,000. In 2014 the median sales price for Government Property in Palm Bay was $90 per sq ft.
Health Care Real Estate in Palm Bay, Florida
21( .05%) of the properties in Palm Bay are classified as Health Care.
Hotel & Motel Real Estate in Palm Bay, Florida
6( .01%) of the properties in Palm Bay are classified as Hotel & Motel.
Industrial Real Estate in Palm Bay, Florida
256( .56%) of the properties in Palm Bay are classified as Industrial. 6 of them sold between March 1st, 2014 and August 1st, 2014. The total value of these sales was $2,181,500. The median sales price was $338,000. In 2014 the median sales price for Industrial in Palm Bay was $100 per sq ft.
Miscellaneous Real Estate in Palm Bay, Florida
18( .04%) of the properties in Palm Bay are classified as Miscellaneous.
Mobile/Manufactured Real Estate in Palm Bay, Florida
1,496( 3.24%) of the properties in Palm Bay are classified as Mobile/Manufactured. 103 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $10,305,700. The median sales price was $40,000. In 2014 the median sales price for A Class Mobile/Manufactured in Palm Bay was $115 per sq ft, B Class properties sold for $42/ft and C Class $21/ft.
Multifamily Real Estate in Palm Bay, Florida
1,870( 4.05%) of the properties in Palm Bay are classified as Multifamily. 39 of them sold between January 1st, 2014 and July 1st, 2014. The total value of these sales was $193,850,300. The median sales price was $7,400,000. In 2014 the median sales price for A Class Multifamily in Palm Bay was $48 per sq ft, B Class properties sold for $48/ft and C Class $23/ft.
Office Real Estate in Palm Bay, Florida
224( .49%) of the properties in Palm Bay are classified as Office. 6 of them sold between April 1st, 2014 and August 1st, 2014. The total value of these sales was $5,179,000. The median sales price was $559,000. In 2014 the median sales price for Office in Palm Bay was $67 per sq ft.
Residential Real Estate in Palm Bay, Florida
41,010( 88.92%) of the properties in Palm Bay are classified as Residential. 2,031 of them sold between January 1st, 2014 and September 1st, 2014. The total value of these sales was $186,811,000. The median sales price was $82,300. In 2014 the median sales price for A Class Residential in Palm Bay was $81 per sq ft, B Class properties sold for $57/ft and C Class $33/ft.
Residential Real Estate in Palm Bay, Florida
0( .00%) of the properties in Palm Bay are classified as Residential.
Retail Real Estate in Palm Bay, Florida
439( .95%) of the properties in Palm Bay are classified as Retail. 12 of them sold between January 1st, 2014 and July 1st, 2014. The total value of these sales was $5,347,000. The median sales price was $324,000. In 2014 the median sales price for Retail in Palm Bay was $107 per sq ft.
Senior Housing Real Estate in Palm Bay, Florida
172( .37%) of the properties in Palm Bay are classified as Senior Housing.
Special Purpose Real Estate in Palm Bay, Florida
114( .25%) of the properties in Palm Bay are classified as Special Purpose. 3 of them sold between May 1st, 2014 and July 1st, 2014. The total value of these sales was $1,941,000. The median sales price was $550,000. In 2014 the median sales price for Special Purpose in Palm Bay was $115 per sq ft.
Sports & Entertaining Real Estate in Palm Bay, Florida
7( .02%) of the properties in Palm Bay are classified as Sports & Entertaining.
Palm Bay, Brevard County Market Data
| Property Usage | Property Count | Total Sq Ft |
|---|---|---|
| Agricultural | 59 | 249,256 |
| Government Property | 291 | 4,843,563 |
| Health Care | 8 | 1,202,183 |
| Hotel & Motel | 6 | 266,423 |
| Industrial | 194 | 7,605,217 |
| Land | 29,708 | 519,206 |
| Miscellaneous Property | 18 | 4,422 |
| Mobile/Manufactured | 1,411 | 1,378,756 |
| Multifamily | 1,139 | 168,609,143 |
| Office | 179 | 2,201,314 |
| Residential | 41,152 | 64,437,487 |
| Retail | 391 | 5,427,762 |
| Senior Housing | 77 | 14,254,362 |
| Special Purpose | 103 | 1,433,216 |
| Sports & Entertaining | 7 | 49,332 |
Palm Bay Median Property Values per Sq Ft
| Property Class | Class A | Class B | Class C | ||||
|---|---|---|---|---|---|---|---|
| Usage | Year | Sale | Lease | Sale | Lease | Sale | Lease |
| Camp | 2016 | $212 | $37 | $99 | $17 | $44 | $7 |
| Airport (private or commercial), bus terminal, marine terminal, pier or marina. | 2016 | $289 | $18 | $119 | $13 | $53 | $10 |
| Auto sales, auto repair and storage or auto service shop | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Church | 2016 | $134 | $18 | $94 | $13 | $42 | $10 |
| Club, lodge or union hall | 2016 | $134 | $18 | $94 | $13 | $42 | $10 |
| Co-Op Manufactured Home - Improved | 2016 | $208 | $6 | $142 | $6 | $48 | $6 |
| Co-Op Manufactured Housing Rental Lot W/Improvements (With Manufactured Home) | 2016 | $208 | $6 | $142 | $6 | $48 | $6 |
| College | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Commerical Shell Bldg (Other) | 2016 | $208 | $8 | $142 | $6 | $48 | $5 |
| Community Shopping Center | 2016 | $124 | $26 | $59 | $13 | $59 | $9 |
| Condominium | 2016 | $109 | $16 | $60 | $16 | $41 | $16 |
| Condominium Unit | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| Cooperative | 2016 | $45 | $16 | $28 | $16 | $20 | $16 |
| County Owned | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Cropland soil capability Class I | 2016 | $134 | $164 | $94 | $25 | $42 | $16 |
| Department Store | 2016 | $124 | $26 | $59 | $13 | $59 | $9 |
| Enclosed theater or auditorium | 2016 | $212 | $37 | $99 | $17 | $44 | $7 |
| Federal Owned | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Financial institution (bank, saving and loan company, mortgage company, credit services) | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Florist or greenhouse | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Golf course or driving range | 2016 | $212 | $37 | $99 | $17 | $44 | $7 |
| Government Undefined | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Grazing land soil capability Class II | 2016 | $134 | $164 | $94 | $25 | $42 | $16 |
| Heavy industrial | 2015 | $83 | $7 | $51 | $5 | $31 | $4 |
| Home for the aged | 2016 | $134 | $13 | $94 | $13 | $42 | $13 |
| Hotel or motel | 2016 | $212 | $33 | $99 | $33 | $44 | $33 |
| Improved Condominium Common Area | 2015 | $443 | $15 | $133 | $15 | $133 | $15 |
| Improved Residential Common Area | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| Light manufacturing | 2016 | $212 | $8 | $99 | $6 | $44 | $5 |
| Lumber yard, sawmill or planing mill | 2016 | $212 | $8 | $99 | $6 | $44 | $5 |
| Manufactured Housing-Double | 2016 | $208 | $6 | $142 | $6 | $48 | $6 |
| Mixed use - store and office or store and residential or residential combination | 2016 | $124 | $26 | $59 | $13 | $59 | $9 |
| Mobile Home | 2016 | $65 | $6 | $47 | $6 | $30 | $6 |
| Mortuary, cemetery or crematorium | 2016 | $134 | $18 | $94 | $13 | $42 | $10 |
| Multi-family - 10 units or more | 2016 | $65 | $8 | $47 | $6 | $30 | $5 |
| Multi-family - less than 10 units | 2016 | $124 | $8 | $59 | $6 | $59 | $5 |
| Multiple Living Units (5 To 9 Units)-Not Attached | 2016 | $208 | $8 | $142 | $6 | $48 | $5 |
| Municipal Owned | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Nightclub, cocktail lounge or bar | 2016 | $212 | $37 | $99 | $17 | $44 | $7 |
| Office Building- Single Tenant- 1 Story | 2016 | $208 | $18 | $142 | $12 | $48 | $9 |
| Office building, non-professional service building, multi-story | 2016 | $289 | $18 | $119 | $12 | $53 | $9 |
| Office building, non-professional service building, one story | 2016 | $289 | $18 | $119 | $12 | $53 | $9 |
| Open storage (building supplies, auto wrecking, fuel, equipment or material storage) | 2016 | $134 | $8 | $94 | $6 | $42 | $5 |
| Orchard Groves, Citrus, etc. | 2016 | $134 | $164 | $94 | $25 | $42 | $16 |
| Ornamentals, miscellaneous agricultural | 2016 | $134 | $164 | $94 | $25 | $42 | $16 |
| Orphanage, other non-profit or charitable services | 2016 | $134 | $18 | $94 | $13 | $42 | $10 |
| Parking Lot - Patron | 2016 | $208 | $26 | $142 | $13 | $48 | $9 |
| Poultry, bees, tropical fish, rabbits, etc. | 2016 | $134 | $164 | $94 | $25 | $42 | $16 |
| Private school or college | 2016 | $134 | $18 | $94 | $13 | $42 | $10 |
| Privately owned hospital | 2016 | $134 | $25 | $94 | $17 | $42 | $11 |
| Professional service building | 2016 | $289 | $18 | $119 | $12 | $53 | $9 |
| Public county school | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Repair service shop (excluding automotive) | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Residential Related Amenities | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| Residential Related Ammenity On Manufactured Home Site | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| Restaurant, cafeteria | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Sanitarium or convalescent rest home | 2016 | $134 | $25 | $94 | $17 | $42 | $11 |
| Service station | 2016 | $212 | $26 | $99 | $13 | $44 | $9 |
| Single Family | 2016 | $110 | $16 | $86 | $16 | $59 | $16 |
| Single Family Residence | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| State Owned | 2016 | $134 | $24 | $94 | $15 | $42 | $9 |
| Store, one story | 2016 | $124 | $26 | $59 | $13 | $59 | $9 |
| Townhouse | 2015 | $443 | $15 | $133 | $15 | $133 | $15 |
| Undefined - Reserved for Use by Department of Revenue | 2016 | $124 | $16 | $59 | $16 | $59 | $16 |
| Utility | 2016 | $134 | $42 | $94 | $15 | $42 | $6 |
| Warehousing, distribution terminal, trucking terminal, or van and storage warehousing | 2016 | $134 | $8 | $94 | $6 | $42 | $5 |