The market in numbers
Home values over the last two years
The typical home in the Palm Bay metro was worth $357,400 in September 2024 and $347,500 in August 2026, a change of −2.8% over two years. The high point of the period came in September 2024, at $357,400, and values are 2.8% below it today.
Where prices are rising fastest
The ten Palm Bay ZIP codes with the strongest change in home values over the past twelve months.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 32949 | Grant-Valkaria | $517,600 | +2.9% | +4.9% |
| 32950 | Malabar | $555,200 | +2.8% | +5.3% |
| 32903 | Indialantic | $561,300 | +2.8% | +3.5% |
| 32754 | Mims | $387,100 | +2.0% | +4.8% |
| 32952 | Merritt Island | $439,400 | +1.1% | +3.5% |
| 32934 | Melbourne | $492,900 | +0.6% | +4.3% |
| 32937 | Satellite Beach | $494,700 | +0.6% | +3.7% |
| 32927 | Cocoa | $305,200 | +0.4% | +3.4% |
| 32955 | Rockledge | $369,100 | +0.1% | +3.5% |
| 32953 | Merritt Island | $422,700 | +0.1% | +3.3% |
Where prices are falling
14 of the metro's ZIP codes are below where they were a year ago. These are the ten largest declines.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 32905 | Palm Bay | $235,000 | −4.4% | −12.2% |
| 32909 | Palm Bay | $317,500 | −1.8% | −8.4% |
| 32920 | Cape Canaveral | $316,300 | −1.8% | −11.7% |
| 32901 | Melbourne | $268,800 | −1.7% | −9.2% |
| 32907 | Palm Bay | $302,800 | −1.6% | −9.7% |
| 32908 | Palm Bay | $318,000 | −1.6% | −7.5% |
| 32935 | Melbourne | $267,800 | −1.3% | −8.5% |
| 32904 | Melbourne | $376,500 | −1.0% | −7.6% |
| 32976 | Micco | $221,500 | −0.9% | −15.0% |
| 32780 | Titusville | $274,900 | −0.9% | −6.9% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the 10 highest yields among the 22 Palm Bay ZIP codes with a rent index.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 32907 | Palm Bay | $302,800 | $2,100 | 8.5% | +4.0% |
| 32927 | Cocoa | $305,200 | $2,100 | 8.2% | +1.2% |
| 32905 | Palm Bay | $235,000 | $1,600 | 8.1% | −1.1% |
| 32908 | Palm Bay | $318,000 | $2,000 | 7.7% | +3.6% |
| 32901 | Melbourne | $268,800 | $1,700 | 7.5% | 0.0% |
| 32922 | Cocoa | $199,700 | $1,300 | 7.5% | +3.6% |
| 32909 | Palm Bay | $317,500 | $2,000 | 7.5% | +1.6% |
| 32920 | Cape Canaveral | $316,300 | $2,000 | 7.4% | +2.1% |
| 32926 | Cocoa | $326,000 | $2,000 | 7.3% | +6.9% |
| 32796 | Titusville | $272,600 | $1,600 | 7.0% | +1.9% |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The metro typical is 4.5×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 32927 | Cocoa | $305,200 | $86,100 | 3.5× |
| 32949 | Grant-Valkaria | $517,600 | $130,700 | 4.0× |
| 32909 | Palm Bay | $317,500 | $80,000 | 4.0× |
| 32908 | Palm Bay | $318,000 | $79,600 | 4.0× |
| 32907 | Palm Bay | $302,800 | $75,300 | 4.0× |
| 32796 | Titusville | $272,600 | $67,500 | 4.0× |
| 32780 | Titusville | $274,900 | $67,700 | 4.1× |
| 32904 | Melbourne | $376,500 | $90,700 | 4.2× |
| 32935 | Melbourne | $267,800 | $64,600 | 4.2× |
| 32905 | Palm Bay | $235,000 | $56,400 | 4.2× |
Who is moving in
Household moves between the 2022 and 2023 tax years. Migration is measured by county, so the figures cover each county in the metro rather than single ZIP codes. The county gained households. The last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Brevard County | +9,960 | +$1,198.9M | +$12,923 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In the Palm Bay metro, 0 of 26 ZIP codes grade A and 2 grade F. Which ones, and why, is in CITIZEN.
All 26 ZIP codes
Every ZIP code in the metro with a home value, in numerical order.
Show all 26 ZIP codes
| ZIP code | Area | Home value | 12 months | 5 yrs, per year | Monthly rent | Gross yield |
|---|---|---|---|---|---|---|
| 32754 | Mims | $387,100 | +2.0% | +4.8% | n/a | n/a |
| 32780 | Titusville | $274,900 | −0.9% | +3.3% | $1,600 | 7.0% |
| 32796 | Titusville | $272,600 | −0.7% | +3.8% | $1,600 | 7.0% |
| 32901 | Melbourne | $268,800 | −1.7% | +2.8% | $1,700 | 7.5% |
| 32903 | Indialantic | $561,300 | +2.8% | +3.5% | $2,700 | 5.9% |
| 32904 | Melbourne | $376,500 | −1.0% | +2.8% | $1,900 | 6.1% |
| 32905 | Palm Bay | $235,000 | −4.4% | +2.6% | $1,600 | 8.1% |
| 32907 | Palm Bay | $302,800 | −1.6% | +2.9% | $2,100 | 8.5% |
| 32908 | Palm Bay | $318,000 | −1.6% | +3.6% | $2,000 | 7.7% |
| 32909 | Palm Bay | $317,500 | −1.8% | +3.2% | $2,000 | 7.5% |
| 32920 | Cape Canaveral | $316,300 | −1.8% | +1.9% | $2,000 | 7.4% |
| 32922 | Cocoa | $199,700 | −0.5% | +4.4% | $1,300 | 7.5% |
| 32926 | Cocoa | $326,000 | +0.1% | +4.1% | $2,000 | 7.3% |
| 32927 | Cocoa | $305,200 | +0.4% | +3.4% | $2,100 | 8.2% |
| 32931 | Cocoa Beach | $455,200 | −0.1% | +3.0% | $2,400 | 6.2% |
| 32934 | Melbourne | $492,900 | +0.6% | +4.3% | $1,700 | 4.0% |
| 32935 | Melbourne | $267,800 | −1.3% | +3.1% | $1,600 | 7.0% |
| 32937 | Satellite Beach | $494,700 | +0.6% | +3.7% | $2,700 | 6.5% |
| 32940 | Melbourne | $490,400 | −0.9% | +3.7% | $2,200 | 5.4% |
| 32949 | Grant-Valkaria | $517,600 | +2.9% | +4.9% | n/a | n/a |
| 32950 | Malabar | $555,200 | +2.8% | +5.3% | n/a | n/a |
| 32951 | Melbourne Beach | $616,900 | 0.0% | +4.5% | $3,200 | 6.2% |
| 32952 | Merritt Island | $439,400 | +1.1% | +3.5% | $2,300 | 6.2% |
| 32953 | Merritt Island | $422,700 | +0.1% | +3.3% | $2,200 | 6.3% |
| 32955 | Rockledge | $369,100 | +0.1% | +3.5% | $1,900 | 6.1% |
| 32976 | Micco | $221,500 | −0.9% | +1.8% | n/a | n/a |
Questions
Are home prices going up or down in Palm Bay?
Up. Home values across the Palm Bay-Melbourne-Titusville metro are up 0.1% over the past twelve months, to a typical $348K, and 12 of its 26 ZIP codes are higher than a year ago.
What is the typical home value in Palm Bay?
$347,500 across the metro's 26 ZIP codes, as of August 2026. It ranges from $199,700 in ZIP 32922 to $616,900 in ZIP 32951.
What is the typical rent in Palm Bay?
About $2,000 a month, across the 22 ZIP codes with rent data, up 2.0% over the past year.
Which Palm Bay ZIP codes are rising fastest?
32949 (Grant-Valkaria, +2.9%), 32950 (Malabar, +2.8%), 32903 (Indialantic, +2.8%), over the past twelve months.
What is the forecast for Palm Bay home prices?
The forecast for the typical ZIP code in the metro is −0.4% over the next twelve months. Forecasts are estimates and change every month.
Other housing markets
- Orlando, FL
- Lakeland, FL
- Deltona, FL
- Tampa, FL
- North Port, FL
- Cape Coral, FL
- Miami, FL
- Jacksonville, FL
- All markets
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values, rents and forecasts through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023; new homes permitted in 2025.
- Metro figures are medians across the ZIP codes in the metro, not a separate metro index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- Updated monthly. Last updated 2026-10-14.
