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:

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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%.

Economic Indicators
RegionPopulation
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 $3,8060.9%$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.

Palm Bay Economic Activity
ActivityValue (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 $3,806100%

Brevard County Regional Comparisons

Economic Indicators
CityPopulation
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 $1660.1%$43,888 8,295$203,800
Cocoa 17,140 $7250.5%$33,411 8,603$128,500
Cocoa Beach 11,231 $2640.3%$53,951 8,866$295,700
Melbourne 76,068 $5,3211.1%$42,089 38,955$153,400
Merritt Island 34,743 $964X$58,528 17,036$215,700
Mims 7,058 $20X$47,161 3,530$130,900
Palm Bay 103,190 $3,8060.9%$44,768 45,220$138,600
Palm Bay 103,190 $3,8060.9%$44,768 45,220$138,600
Rockledge 24,926 $4952.0%$57,835 11,240$173,900
Satellite Beach 10,109 $681.4%$60,870 4,953$238,000
Titusville 43,761 $8110.4%$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.

Economic Indicators
RegionPopulation
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.

Palm Bay Real Estate by Usage
Usage TypeProperty Count%Sales CountMedian PriceMedian Price/FtSales FromTo
Agricultural 92 0.20 0n/an/an/an/a
Commercial Property 0 0.00 0n/an/an/an/a
Government Property 395 0.86 2 $132,000 $90April 1st, 2014April 1st, 2014
Health Care 21 0.05 0n/an/an/an/a
Hotel & Motel 6 0.01 0n/an/an/an/a
Industrial 256 0.56 6 $338,000 $100March 1st, 2014August 1st, 2014
Miscellaneous Property 18 0.04 0n/an/an/an/a
Mobile/Manufactured 1,496 3.24 103 $40,000 $42January 1st, 2014August 1st, 2014
Multifamily 1,870 4.05 39 $7,400,000 $48January 1st, 2014July 1st, 2014
Office 224 0.49 6 $559,000 $67April 1st, 2014August 1st, 2014
Residential 41,010 88.92 2,031 $82,300 $57January 1st, 2014September 1st, 2014
Residential Property 0 0.00 0n/an/an/an/a
Retail 439 0.95 12 $324,000 $107January 1st, 2014July 1st, 2014
Senior Housing 172 0.37 0n/an/an/an/a
Special Purpose 114 0.25 3 $550,000 $115May 1st, 2014July 1st, 2014
Sports & Entertaining 7 0.02 0n/an/an/an/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

Palm Bay Real Estate
Property UsageProperty CountTotal 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

Palm Bay Median Property Values per Sq Ft by Property Class
Property Class Class AClass BClass C
UsageYear SaleLease SaleLease SaleLease
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
Assisted Care Living Facility 2014 $115$14 $115$14 $115$14
Auto sales, auto repair and storage or auto service shop 2016 $212$26 $99$13 $44$9
Cemetery 2014 $115$16 $115$12 $115$10
Church 2016 $134$18 $94$13 $42$10
Clinic 2014 $115$20 $115$11 $115$11
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
Commercial Related Amenities 2014 $142$16 $79$12 $44$10
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 - Store 2014 $142$23 $79$11 $44$8
Condominium - Warehousing 2014 $115$7 $115$5 $115$4
Condominium Office Unit 2014 $142$15 $79$11 $44$8
Condominium Unit 2016 $208$16 $142$16 $48$16
Convenience Store With Gas Pump 2014 $142$23 $79$11 $44$8
Cooperative 2016 $45$16 $28$16 $20$16
County Owned 2016 $134$24 $94$15 $42$9
County Owned Land-Improved (That Does Not Qualify In Another Code) 2014 $115$6 $115$6 $115$6
Cropland - Soil Capability Class I With Residence 2014 $115$168 $115$22 $115$6
Cropland soil capability Class I 2016 $134$164 $94$25 $42$16
Day Care Center 2014 $142$20 $79$11 $44$11
Dealership Sales / Service Center 2014 $233$23 $111$11 $43$8
Department Store 2016 $124$26 $59$13 $59$9
Enclosed theater or auditorium 2016 $212$37 $99$17 $44$7
Fast Food Restaurant 2014 $233$23 $111$11 $43$8
Federal Owned 2016 $134$24 $94$15 $42$9
Financial Institution - Branch Facility 2014 $233$23 $111$11 $43$8
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
Forest, park or recreational area 2014 $28$21 $28$11 $28$9
Garage / Auto-Body /Auto Paint Shop 2014 $233$23 $111$11 $43$8
Garden Apartments - 1 Story - 10 To 49 Units 2014 $142$7 $79$5 $44$4
Garden Apartments - 1 Story - 50 Units And Up 2014 $142$7 $79$5 $44$4
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 Vacant 2014 $115$168 $115$22 $115$6
Grazing Land - Soil Capability Class Ii With Buildings Other Than Residence 2014 $115$168 $115$22 $115$6
Grazing Land - Soil Capability Class Ii With Residence 2014 $115$168 $115$22 $115$6
Grazing land soil capability Class II 2016 $134$164 $94$25 $42$16
Grazing land soil capability Class III 2014 $119$168 $51$22 $38$6
Heavy Industrial,Heavy Equipment Mfg., Large Machine Shops,Foundries,Steel 2014 $115$7 $115$5 $115$4
Heavy industrial 2015 $83$7 $51$5 $31$4
Home For The Aged 2014 $115$14 $115$14 $115$14
Home for the aged 2016 $134$13 $94$13 $42$13
Hospital -General-Privately Owned 2014 $115$20 $115$11 $115$11
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,Small Equipt.Mfg. Plants,Sm.Machine Shops,Instrument Mfg., 2014 $115$7 $115$5 $115$4
Light manufacturing 2016 $212$8 $99$6 $44$5
Low Rise Apartments- 10 To 49 Units- 2 Or 3 Stories 2014 $142$7 $79$5 $44$4
Low Rise Apartments- 50 Units And Up- 2 Or 3 Stories 2014 $106$7 $60$5 $28$4
Lumber yard, sawmill or planing mill 2016 $212$8 $99$6 $44$5
Manuf. Housing Park - 10 To 25 Spaces Rentals 2014 $115$6 $115$6 $115$6
Manuf. Housing Park - 26 To 50 Spaces Rentals 2014 $115$6 $115$6 $115$6
Manufactured Housing-Double 2016 $208$6 $142$6 $48$6
Mini-Lube Service Specialist 2014 $233$23 $111$11 $43$8
Mini-Warehousing 2014 $115$7 $115$5 $115$4
Mixed Use- Commercial Property 2014 $142$7 $79$5 $44$4
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- Multi Tenant- 2 Or More Stories 2014 $142$15 $79$11 $44$8
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 Building- Multi Tenant- 1 Story 2014 $142$15 $79$11 $44$8
Professional Building- Single Tenant- 1 Story 2014 $142$15 $79$11 $44$8
Professional service building 2016 $289$18 $119$12 $53$9
Professional/Office Complex 2014 $142$15 $79$11 $44$8
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 2014 $142$23 $79$11 $44$8
Restaurant, cafeteria 2016 $212$26 $99$13 $44$9
Retail Drugstore - Not Attached 2014 $142$23 $79$11 $44$8
Retail Store - Multiple Units 2014 $142$23 $79$11 $44$8
Retail Store- 1 Unit 2014 $142$23 $79$11 $44$8
Retail Tire Store 2014 $142$23 $79$11 $44$8
Sanitarium or convalescent rest home 2016 $134$25 $94$17 $42$11
School -Private 2014 $115$16 $115$12 $115$10
Service station 2016 $212$26 $99$13 $44$9
Shopping Complex - Community/ Neighborhood 2014 $142$23 $79$11 $44$8
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
Three Or Four Living Units - Not Attached 2014 $142$13 $79$13 $44$13
Townhouse 2015 $443$15 $133$15 $133$15
Undefined - Reserved for Use by Department of Revenue 2016 $124$16 $59$16 $59$16
Used Automobile Sales 2014 $233$23 $111$11 $43$8
Utility 2016 $134$42 $94$15 $42$6
Warehouse - Flex Space 2014 $115$7 $115$5 $115$4
Warehouse Discount Store 2014 $142$23 $79$11 $44$8
Warehousing, Distribution_Terminal, Trucking Terminal, Van & Storage 2014 $115$7 $115$5 $115$4
Warehousing, distribution terminal, trucking terminal, or van and storage warehousing 2016 $134$8 $94$6 $42$5