$45,000
2065 SE Cogan Dr
Palm Bay, FL
Land10,019 sqft lot
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Sarah Mitchell
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Compass Real Estate · Palm Bay, FL
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Palm Bay, FL(512) 555-0184TX License #0512847
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Palm Bay, FL Housing Market
Leaning buyer's-1.9% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Palm Bay, FL is worth $303,910, fell 1.9% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $325,000, -0.6% year over year (through May 2026). With 4.7 months of supply and homes going under contract in about 75 days, Palm Bay is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $303,910 home is about $1,622/mo in principal and interest.
Key numbers for Palm Bay, FL
Typical home value
$303,910
-1.9% in 12 months
Zillow, August 2026
Typical asking rent
$1,867/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$325,000
-0.6% year over year
Redfin, through May 2026
Days on market
75
Slow-moving
Redfin, through May 2026
Active listings
1,143
4.7 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$67,521
Home costs 4.5x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.3%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Palm Bay a buyer's or seller's market?
Leaning buyer's4.7 months of supply75 days on market98.3% of asking
Palm Bay, FL is a leaning buyer's, based on 4.7 months of supply and homes selling in about 75 days. 4 to 5 months of supply is the neutral band: neither side holds a structural advantage, and outcomes turn on the individual property.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Palm Bay housing market data show?
Every row below is Redfin's final published month for Palm Bay, FL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $325,000 |
| Median list price | $338,345 |
| Year-over-year price change | -0.6% |
| Median price per sq ft | $189/sq ft |
| Median days on market | 75 days |
| Active inventory | 1,143 listings |
| Months of supply | 4.7 months |
| Sale-to-list price ratio | 98.3% |
| Homes sold (that month) | 241 |
| New listings (that month) | 324 |
| Listings with a price cut | 30.4% |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Palm Bay is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Palm Bay is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Palm Bay home prices moved?
Over the last three years the median sale price in Palm Bay, FL fell 3.0%, from $335,000 to $325,000. The live Zillow value series has fell 1.9% in the last 12 months, which is the more current read now that Redfin's series has stopped. 30.4% of Palm Bay listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 4.7 months while the sale-to-list ratio slips below its current 98.3%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Palm Bay?
Priced off the typical home value of $303,910 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $60,782 | $243,128 | $1,622/mo |
| 5% | $15,195 | $288,714 | $1,927/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,622, that implies roughly $69,533 a year before you add taxes and insurance. The median household in Palm Bay earns $67,521, about $2,012 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 4.5x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Palm Bay in the next 12 months?
Tell us your timeline. We send the Palm Bay market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Palm Bay?
Typical asking rent in Palm Bay, FL is $1,867/mo, against a typical home value of $303,910. That is a price-to-rent ratio of 13.6x, which means buying tends to beat renting on monthly cost over a typical hold. Compared head to head, 20% down puts principal and interest at $1,622 a month — $244 less than renting before taxes and insurance, so ownership can win on monthly cost alone once you have the down payment.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Palm Bay?
Active listings in Palm Bay, FL went from 1,370 in May 2025 to 1,143 in May 2026, a -16.6% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 1,378 | 381 |
| July 2025 | 1,284 | 302 |
| August 2025 | 1,273 | 340 |
| September 2025 | 1,273 | 342 |
| October 2025 | 1,239 | 335 |
| November 2025 | 1,186 | 250 |
| December 2025 | 1,150 | 288 |
| January 2026 | 1,213 | 364 |
| February 2026 | 1,212 | 324 |
| March 2026 | 1,156 | 330 |
| April 2026 | 1,176 | 372 |
| May 2026 | 1,143 | 324 |
Redfin, through May 2026
How does Palm Bay compare to Florida and the U.S.?
Palm Bay homes sell for $325,000 — 23% below the Florida median of $421,500. Against the national median of $410,700, Palm Bay runs 21% lower. Year-over-year, Palm Bay moved -0.6% against Florida's +2.6% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Palm Bay, FL | $325,000 | -0.6% | 75 days |
| Florida statewide | $421,500 | +2.6% | 66 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Palm Bay
What buyers should watch
- Months of supply, currently 4.7. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 30.4%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $304 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $303,910 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Palm Bay listing goes under contract in 75 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Palm Bay added 324 new listings against 241 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved -1.9% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Palm Bay varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Palm Bay
There are currently 1,143 homes listed for sale in Palm Bay, Florida. The median listing price is $338K. Featured listings range from $45,000 to $472,399.
$278,990
1349 Wade St SE
Palm Bay, FL
2 bd2 ba1,239 sqft$225/ft²
House
View photos & details
$316,900
1226 Waterway St SW
Palm Bay, FL
4 bd2 ba1,876 sqft$169/ft²
House
View photos & details
$379,900
2166 Santa Maria Ave SE
Palm Bay, FL
4 bd2 ba1,800 sqft$211/ft²
House10,019 sqft lot
View photos & details
$381,985
898 Everglade Ave SE
Palm Bay, FL
4 bd2 ba1,828 sqft$209/ft²
House
View photos & details
$384,985
101 Colony Ct SE
Palm Bay, FL
4 bd2 ba1,828 sqft$211/ft²
House
View photos & details
$409,900
2039 Olympia Ave SW
Palm Bay, FL
4 bd3 ba2,471 sqft$166/ft²
House
View photos & details
$427,148
1806 San Filippo Dr SE
Palm Bay, FL
4 bd3 ba2,094 sqft$204/ft²
House
View photos & details
$444,995
2264 Ladner Rd NE
Palm Bay, FL
4 bd3 ba2,350 sqft$189/ft²
House
View photos & details
$463,937
213 Foremost Ave NW
Palm Bay, FL
4 bd3 ba2,350 sqft$197/ft²
House
View photos & details
$468,949
241 Bali St SE
Palm Bay, FL
4 bd3 ba2,350 sqft$200/ft²
House
View photos & details
$472,399
1293 Helias St NW
Palm Bay, FL
4 bd3 ba2,350 sqft$201/ft²
House
View photos & details
Looking to buy in Palm Bay?
Get connected with a local real estate expert — free, no obligation.
Active listings
1,143
Homes on market
Median list price
$338K
Avg. days on market
75
Days until sale
New this week
324
Newly listed
Price drops:30.4%of listings
Sale-to-list:98.3%
How much do homes cost in Palm Bay by property type?
How the Palm Bay, FL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $331,000 | $190/sq ft | 227 | 78 days |
| Condo / co-op | $172,500 | $170/sq ft | 4 | 174 days |
| Townhouse | $272,000 | $162/sq ft | 10 | 48 days |
Who lives in Palm Bay?
American Community Survey estimates for Palm Bay. U.S. Census ACS, 2023
Population
125,273
Households
44,432
Median income
$67,521/yr
Median age
41.3 years
Owner-occupied
79.4%
Median home value
$248,000
Median gross rent
$1,487/mo
Mean commute
27.6 min
79.4% of occupied homes in Palm Bay are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $248,000 against Zillow's $303,910 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,487/mo, below Zillow's $1,867/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Palm Bay?
20 schools tracked · 17,351 students
The largest public schools serving Palm Bay, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
BAYSIDE HIGH SCHOOL
Grades 9-12 · 2,040 students
HERITAGE HIGH SCHOOL
Grades 9-12 · 2,023 students
ODYSSEY CHARTER SCHOOL
Grades K-12 · 1,913 students
PINEAPPLE COVE CLASSICAL ACADEMY
Grades K-12 · 1,067 students
SOUTHWEST MIDDLE SCHOOL
Grades 7-8 · 899 students
SUNRISE ELEMENTARY SCHOOL
Grades PK-6 · 868 students
WESTSIDE ELEMENTARY SCHOOL
Grades PK-6 · 867 students
JUPITER ELEMENTARY SCHOOL
Grades PK-6 · 852 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Palm Bay, FL?
Ordered by distance from Palm Bay, not by size. Compare Palm Bay side by side with any of them.
Palm Bay housing market FAQ
Is Palm Bay a buyer's or seller's market?
Palm Bay, FL is currently a leaning buyer's. That read comes from 4.7 months of supply, homes going under contract in about 75 days, and sellers getting 98.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Palm Bay?
The typical home in Palm Bay, FL is worth $303,910 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $325,000, about $189 per square foot.
Is Palm Bay cheaper than the rest of Florida?
Palm Bay's median sale price of $325,000 is 23% lower than the Florida statewide median of $421,500, and 21% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Palm Bay?
Homes in Palm Bay, FL spent a median of 75 days on market before going under contract, versus 66 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Palm Bay?
At the current 30-year fixed rate of 7.03%, 20% down on a $303,910 home is about $1,622 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $69,533 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $67,521.
Are home prices rising in Palm Bay?
The typical home value in Palm Bay, FL fell 1.9% over the last 12 months, from $309,675 to $303,910 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Palm Bay?
Palm Bay ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Palm Bay?
That depends on your timeline, not on a headline. What the data says today: Palm Bay, FL is a leaning buyer's with 4.7 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 13.6x means buying tends to beat renting on monthly cost over a typical hold. Properties Incorporated publishes the data; it does not give financial advice.
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