Balm is in the Tampa Bay region of Florida. It's population as recorded in the 2010 Census was 1,457. Balm is approximately 18 miles from Tampa (population 335,709) and around 23 miles from Saint Petersburg (population 244,769).

The median age for residents of Balm is 31.7. Around 47.7% of Balm households include school aged children and 17.4% of households include individuals aged 65 years or over. Census records indicate 71.1% of the Balm population are White, 15.3% are Black or African American, .1% American Indian, 1.5% Asian and 1.9% are Two or more Races. Balm has a significant Hispanic population. 31% (452) of Balm residents are of Hispanic or Latino origin. Of these 55.08% are of Mexican origin, 23% Puerto Rican, 6.63% Cuban and 15.26% are of other Hispanic or Latino origin.

There are 520 housing units in Balm. 55 (10.5%) of these were reported as vacant in the 2010 Census. There are 104 residential rental units in Balm. 86 of them were occupied in 2010 providing a residential rental vacancy rate of 17.3%.