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Originally Posted On: https://exprealty.com/us/fl/palm-bay/
Palm Bay is a seaside city in Central Florida’s Atlantic Coast, around an hour east of Orlando. Palm Bay has a desirable, suburban, family-friendly vibe, reasonably-priced real estate in Florida, and abundant aquatic recreation, including swimming, fishing, boating, kayaking, and paddleboarding. If you’re hunting for Florida properties, check out our listings to decide if Palm Bay real estate is the move for you.
More About Palm Bay, FL Real Estate
Palm Bay is home to over 119K people and is one of the largest cities in Brevard County. It is also one of the most important cities in the Palm Bay−Melbourne−Titusville Metropolitan Statistical Area. Palm Bay has been named the 21st best city to buy a house in America by Niche.com.
Palm Bay has a distinctive, sparse, suburban character and a laid-back coastal atmosphere. These qualities have turned Palm Bay real estate into a magnet for homebuyers, particularly those looking for peace and quiet, but without giving up metropolitan comforts.
Most Palm Bay real estate comprises large, four-to-five-bedroom residences on generous lots and is not far from commercial areas, beaches, outdoor fun at the Turkey Creek Sanctuary, and highly-rated public schools managed by Brevard County Public Schools. Needless to say Palm Bay is ideal for growing families looking for a respite from the hustle and bustle of larger Central Florida cities.
Palm Bay, FL Nearby Cities
- 4 miles to Melbourne
- 17 miles to Sebastian
- 24 miles to Cocoa Beach
- 30 miles to Vero Beach
- 56 miles to Kissimmee
- 74 miles to Orlando
Palm Bay Real Estate Market
With plenty of high-tech employment opportunities, desirable amenities, and proximity to the ocean and everything Orlando offers, the real estate market in Palm Bay has seen an increase in popularity in recent years. The city is considered one of the best places for families to live in Brevard County. Aside from being an ideal spot for families looking to settle down, Palm Bay real estate is also a favorable investment. So if you’re considering buying a vacation home or a rental condo in central Florida, now may be the time to explore your Palm Bay options.
Real estate in Palm Bay has a typical price of $340K, below the state’s average, with properties increasing their costs by 12-18% yearly. The amount of time a piece of real estate stays on the market before pending is currently 80 days. Over 83% of the housing supply in Palm Bay is composed of single-family homes for sale. The rest are condos for sale in Palm Bay, mainly in mid-rise and low-rise buildings and complexes and a few charming townhomes scattered throughout.
The majority of the dwellings here are of recent construction, 60% of them developed between the ‘70s and the ‘90s. Another 30% of the supply dates from 2000 or is new construction in Palm Bay.
Palm Bay, FL Neighborhoods And Suburbs
Malabar is a sweet spot for Palm Bay real estate buyers looking for suburban properties south of the city. Living in Malabar offers benefits such as stunning coastal views, waterfront living options, suburban peace, lush green landscapes, a plethora of local amenities nearby, and the convenience of Palm Bay being minutes away.
The Malabar real estate market is mostly made of single-family homes with large backyards and undeveloped real estate. The median listing price in this town is approximately $575K, trending up 25.8% annually.
Situated inland, in the southwestern portion of the city, Bayside Lakes is a family-centered neighborhood with generous lots, tons of home styles, and amenities such as walking trails, great schools, and open green spaces.
If you’re shopping for Palm Bay real estate, Bayside Lakes is the perfect place to feel at home and connected to your community. Homes in Bayside Lakes are sizable, suburban properties (ranging in square footage from 1,400 to over 5,400 square feet) with two-to-six bedrooms, pools, garage space, backyards, with prices ranging from $300K to $7M.
Viera is a sought-after suburb of Palm Bay situated north of Melbourne. The town is close enough to the conveniences of Palm Bay but far enough away to give locals a desirable sense of seclusion. Viera offers plenty of existing and pre-construction single-family homes for sale for all tastes and budgets, but Palm Bay real estate in Viera comes at a median price of $457K. Movers to this area value living close to the greens of Duran Golf Club, Indian River Colony Club, and Viera Regional Park. They also have shopping areas with large retailers like Walmart and Target, staple recreational venues like Brevard Zoo, and several healthcare facilities and doctor’s offices within their community.
Palm Bay, FL Schools
Relocators to Palm Bay real estate looking for public education have 21 schools at their disposal. The local public schools serve 14K students and fall under the jurisdiction of Brevard County Public Schools.
Based in Viera, FL, the district provides instruction to 70K+ students in Brevard County attending 100 schools. Palm Bay has more elementary than middle or high schools, but with open enrollment in Florida; children can go to school in any neighboring city: Melbourne, Malabar, Grant-Valkaria, etc.
Palm Bay residents that might prefer private education can enroll their children in one of the six institutions serving under 500 students. For higher education, Eastern Florida State College has a campus in Palm Bay and the neighboring cities of Titusville, Cocoa, and Melbourne, as well as a virtual campus. Keep reading for a list of schools near Palm Bay real estate:
Public Schools In Palm Bay, Florida
- Christa McAuliffe Elementary School
- Lockmar Elementary School
- Palm Bay Elementary School
- Port Malabar Elementary School
- Columbia Elementary School
- John F. Turner Sr. Elementary School
- Jupiter Elementary School
- Southwest Middle School
- Heritage High School
- Bayside High School
- Palm Bay High School
Private Schools In Palm Bay, Florida
- Palm Bay Academy
- Lifeline Academy
- St. Joseph Catholic School
- Pineapple Cove Classical Academy
Colleges & Universities Near Palm Bay, Florida
- Eastern Florida State College
Frequently Asked Questions About Palm Bay, FL Real Estate
What Is The Zip Code For Palm Bay, Florida?
Palm Bay real estate spreads across four unique residential zip codes. Keep reading to get more details about where those zip codes are located and what they include:
- 32905: This zip code covers a small area in the city’s northeastern section, just south of Melbourne. It boasts plentiful waterfront real estate in Palm Bay.
- 32907: A residential area in north Palm Bay with suburban real estate, primarily single-family homes.
- 32908: The biggest zip code in Palm Bay, comprises the central and western portions of the city and includes residential and commercial areas.
- 32909: This zip code is situated to the east, just minutes from the ocean, and is the second largest in Palm Bay.
Where Is The Nearest Commercial Airport For Palm Bay, Florida?
Palm Bay real estate is served by the Melbourne Orlando International Airport, situated in the neighboring town of Melbourne, just six miles north of Palm Bay, a mere 12-minute drive from the city center.
What County Is Palm Bay In?
Palm Bay real estate is part of Brevard County, Florida, home to over 606K people which makes it the 10th largest county in the state in terms of population. The county seat is the beautiful city of Titusville. Brevard County is also the 12th best county to live in the Sunshine State according to Niche.com.
Is Palm Bay A Small Town?
Palm Bay is not a small town; it’s the largest city in Brevard County, with over 119K residents, according to the 2020 United States Census. It is also the largest city in the county by land mass, with 89.60 square miles or 232.05 square kilometers.
Is Palm Bay Good For Retirees?
Palm Bay can be a great place to retire if you’re looking for sunshine and mild temperatures all year round. The Floridian city also offers plenty of opportunities for water-based recreation in the neighboring beaches and other outdoor activities like golfing.
In addition, the robust Palm Bay real estate market offers seniors various options for retirement living, from condos to small detached houses, affordable compared to other places on Florida’s east coast.
What Is Palm Bay, Florida Known For?
In central Florida, Palm Bay is renowned for its extensive selection of 29 parks, ranging from beachfront parks like Castaway Point Park to nature preserves, including Turkey Creek Sanctuary. The city is also praised for its water sports activities.
Residents in Palm Bay real estate also love their homes to be convenient to other fun-filled destinations in Florida, including Cape Canaveral with the Kennedy Space Center and Orlando, which boasts many unique experiences, and the world-famous theme parks Disney World and Universal Studios.
Things To Do In Palm Bay, FL
Water Activities In Palm Bay, Florida
- Melbourne Beach: One of the best beaches near Palm Bay, Melbourne Beach lies in the city of the same name and is situated right on the barrier island between the Indian River Lagoon and the Atlantic Ocean. With turquoise, clear waters, this beach is never too crowded (except maybe on Holiday weekends) and has lifeguards on duty.
- The Palm Bay Aquatic Center: Bring your family to this public swimming for some water fun any time of the year. The Palm Bay Aquatic Center boasts a large swimming pool and a splash pad for the smaller kids. They offer swimming lessons, and lifeguards are always on the premises.
Family Fun In Palm Bay, Florida
- Andretti Thrill Park: This amusement park is north of Palm Bay real estate and has provided locals with fun for over 23 years. The experience of visiting the park includes bumper boats, go-karts, laser tag, batting cages, a spinning coaster, miniature golf, and much more.
- Brevard Zoo: For a family day filled with activity involving over 900 animals and several ecosystems from around the globe, visitors and residents in Palm Bay real estate go to Brevard Zoo in Melbourne, FL. This 75-acre zoo features kayak tours, animal feeding experiences, train rides, behind-the-scenes excursions, and a treetop trek.
Parks In Palm Bay, FL
- Turkey Creek Sanctuary: Boasting 130 acres of natural areas and biodiversity, this preserve is a preferred spot to enjoy the great outdoors in Palm Bay. Turkey Creek Sanctuary offers a 1.85-mile boardwalk, 1.5 miles of walking trails, and one mile of mountain bike paths. For those who prefer the water, there are kayaks and canoe rentals. Picnic tables, benches, gazebos, and pavilions are also on the premises.
- Castaway Point Park: This is one of the most beautiful beachfront parks near Palm Bay real estate and comprises two fishing piers, walking trails, beaches, a picnic pavilion to have lunch al fresco, and a kayak launch for those who are interested in exploring around.
- Fred Poppe Regional Park: This lovely 200-acre park is all about sports. The park has several lighted multi-use athletic fields, four fishing lakes, a playground, cycling and walking trails, and pavilions with charcoal grills. It is also a pet-friendly park, so bring your four-legged friends! Ted Whitlock Community Center, a 1,800 square feet community center, is also within Fred Poppe Regional Park.
Living In Palm Bay, FL Real Estate
Cost Of Living In Palm Bay, Florida
Palm Bay has a lot to offer potential homebuyers and investors looking to relocate to an affordable area in Florida. With an index of 90.4, the cost of living in Palm Bay is under Florida (103.1) and the national average (100), making it an excellent choice for families, individuals, or seniors looking for a cost-effective city with abundant amenities.
Those purchasing Palm Bay real estate will save on housing, utilities, groceries, healthcare, and especially transportation. Locals may experience an elevation in miscellaneous expenses, primarily associated with entertainment or dining out.
What is the average household income in Palm Bay Florida?
The average annual household income in Palm Bay is $65,151, while the median household earns a yearly salary of approximately $52,435.
Weather In Palm Bay, Florida
Blessed with amazing weather year-round, Palm Bay is the envy of many cities north of the state’s border. Unsurprisingly, real estate in Palm Bay has seen a surge in popularity among relocators in recent years.
Palm Bay experiences long, hot summers with abundant humidity and short, mild winters with plenty of wind and intermittent clouds. During the year, temperatures in this central Florida city fluctuate between 54°F and 89°F and barely ever dip down to 39°F or rise above 93°F.
Does Palm Bay get hurricanes?
Palm Bay, Florida, is situated in the heart of the Florida Space Coast, so Palm Bay real estate would have to contend with a few hurricanes during the season. Florida’s hurricane season goes from June 1 through November 30.
Palm Bay has seen its fair share of wild weather, although due to its inland location on east-central Florida’s Atlantic coast, Palm Bay doesn’t generally experience as strong hurricane-level winds as other coastal cities do. Despite that, all Palm Bay residents should keep informed during every hurricane season to make sure they are prepared in case a storm hits.
Healthcare Services In Palm Bay, Florida
Healthcare is a big selling point among real estate agents trying to lure families and retirees into relocating to Palm Bay real estate. Palm Bay is home to a modern, top-ranking hospital and specialty care centers, with skilled physicians that provide outstanding care to the residents. The top healthcare provider in the Palm Bay area is:
- Palm Bay Hospital: This 120-bed, award-winning hospital provides patients with emergency medicine, Thoracic Endograph surgery, and other services such as intensive care, surgery, rehabilitation, and extensive Digital Diagnostic Radiology. It also includes the first hospice patient facility in the county.
For additional medical services, residents in Palm Bay real estate visit:
- Health First’s Holmes Regional Medical Center
- OMNI Healthcare Palm Bay Medical Center
- Malabar Medical Walk-In Clinic
Palm Bay, FL Job Market
Palm Bay is the second-largest city in Brevard County, allowing it to benefit from local and regional context to maintain a stable economy, which translates into a thriving job market. This is especially true in the technology/aerospace sector, a major employer in the area that provides many excellent opportunities for job seekers. Other large industries in Palm Bay are tourism, healthcare, and manufacturing. Top employers in the area include:
- Harris Corporation
- DRS Optronics
- MC Assembly
- Publix Supermarkets
- Winn Dixie Supermarkets
- City of Palm Bay
Transportation in Palm Bay, FL
With a walk score of 57, and a bike score of 47 out of 100, Palm Bay is somewhat walkable and bikeable, but driving is the preferred transportation means for residents in Palm Bay real estate. The city provides convenient access to the 851 miles of well-kept highways and roads, including US1, Interstate 95, Babcock Street, Malabar Road, Palm Bay Road, and Minton Road.
Palm Bay’s public transportation provides an affordable option for visitors and residents. That includes bus and trolley services offered by Space Coast Area Transit. The Melbourne Orlando International Airport is north of the city for those who travel frequently.