Palm Bay, FL Local Data & Statistics

State: FL

Total population: 130,132 Household income: $72,614 Rent: $1,601

Overview

Total population

130,132

Rent

$1,601

Year built

1993

Household income

$72,614

Per capita income

$34,813

Poverty rate

11.7%

Unemployment rate

3.4%

Household size

2.8 persons

Rent over 30% of income

55.1%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available, with the exception of the unemployment rate, which is sourced from the Bureau of Labor Statistics (BLS). ACS 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State

Florida

Total population

130,132

Adults over 25

92,033

Total households

45,850

Household size

2.8 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Income & Poverty

Household income

$72,614

Per capita income

$34,813

Poverty rate

11.7%

Unemployment rate

3.4%

Rent over 30% of income

55.1%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Housing

Rent

$1,601

Year built

1993

Households that rent

20.3%

Households that own

79.7%

Rooms per home (all homes)

5.7

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Race

White

55.4%

Black

20.4%

Asian

2.3%

Two or more races

16.2%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Ethnicity

Hispanic or Latino

20.6%

Not Hispanic or Latino

79.4%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Commute

Commute rate

89%

Commute time to work

28 mins

Work from home

11%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Education

Less than high school

30.1%

High school graduate or GED

31.9%

Some college or associate degree

13.9%

Bachelor’s degree or higher

24%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Comparison of Palm Bay, FL with: Florida United States

Palm Bay, FL

Total population130,132

Rent$1,601

Year built1993

Household income$72,614

Per capita income$34,813

Poverty rate11.7%

Unemployment rate3.4%

Florida State

Total population22,416,077

Rent$1,669

Year built1988

Household income$74,568

Per capita income$42,609

Poverty rate12.6%

Unemployment rate3.4%

United States

Total population334,922,499

Rent$1,413

Year built1980

Household income$80,734

Per capita income$44,673

Poverty rate12.5%

Unemployment rate4%

Metric	CityPalm Bay, FL	StateFlorida	CountryUnited States
Total population	130,132	22,416,077	334,922,499
Rent	$1,601	$1,669	$1,413
Year built	1993	1988	1980
Household income	$72,614	$74,568	$80,734
Per capita income	$34,813	$42,609	$44,673
Poverty rate	11.7%	12.6%	12.5%
Unemployment rate	3.4%	3.4%	4%

View the complete comparison of Palm Bay, FL, Florida and United States →

Summary for Palm Bay, FL

Palm Bay is located in Florida.

Rent & Income

In Palm Bay, the typical monthly rent is $1,601 and the typical household income is $72,614. Rent here is similar to Florida and higher than the U.S., and household income is similar to Florida and lower than the U.S. The estimated poverty rate is 11.7%, which is lower than in both Florida and national.

Housing & Affordability

This area is primarily owner-occupied, with renters accounting for about 20.3% of households. About 55.1% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is moderate, with about 24% of adults holding a bachelor’s degree or higher. The local unemployment rate is 3.4%, which is similar to Florida and lower than the national rate.

Palm Bay, FL — Rent vs Household Income

Palm Bay, FL — Poverty vs Unemployment

How Palm Bay, FL compares in Florida (59 places)

Metric	This place	Rank	Starts from	Statewide range
Rent	$1,601	11 / 59	from lower rent	$1,246 – $2,851
Household income	$72,614	30 / 59	from higher income	$46,195 – $139,825
Poverty rate	11.7%	23 / 59	from lower poverty	6.1% – 30.8%
Unemployment rate	3.4%	45 / 59	from lower unemployment	2.1% – 4.5%

Rankings are calculated among cities and communities in Florida with total population > 50,000 (year 2024).

Detailed Ranking Explanation for Palm Bay, FL

Rent

When it comes to rent costs, Palm Bay places 11th among 59 large places in Florida. Across the state, rents run from $1,246 in Winter Haven, FL up to $2,851 in Weston, FL.

Household income

Palm Bay ranks 30th among 59 large places for typical household income. Statewide values run from $46,195 in Gainesville, FL to $139,825 in Weston, FL.

Poverty rate

Looking at poverty, Palm Bay ranks 23rd out of 59 large places. Statewide poverty rates range from 6.1% in Weston, FL to 30.8% in Gainesville, FL.

Unemployment rate

For unemployment, Palm Bay ranks 45th out of 59 large places. Across Florida, unemployment ranges from 2.1% in Miami Beach, FL to 4.5% in Daytona Beach, FL.

💰 Rent in Palm Bay, FL (with Utilities)

Estimated Monthly Rent: $1,601 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing, including the apartment or home and essential utilities such as heat, water, and electricity. Even when utilities are billed separately, an estimated average cost for utilities is included, in line with the U.S. Census Bureau’s (ACS) definition of gross rent.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in Palm Bay, FL

Annual Household Income: $72,614

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in this area — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in Palm Bay, FL

Estimated Rate: 11.7%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in Palm Bay, FL

In Palm Bay, FL, households that rent: 9,295 (20.3%)

📊 What does the renter household percentage reveal about this area?

Household Type	Count	Share
Renter-Occupied	9,295	20.3%
Owner-Occupied	36,555	79.7%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in Palm Bay, FL

In Palm Bay, FL, cost-burdened renters (households spending over 30% of income on housing): 5,123 (55.1%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?

Household Group	Households	Share
Cost-burdened renters (over 30%)	5,123	55.1%
Other renter households	4,172	44.9%
Total renter households	9,295	100%

Shares are calculated as a percentage of renter households.

This shows how many renters in this area are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in Palm Bay, FL

Less than High School: 27,717 people (30.1%)

Includes adults who did not complete high school.

High School Graduate or GED: 29,394 people (31.9%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 12,816 people (13.9%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 22,106 people (24%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 92,033

📊 Unemployment Rate in Palm Bay, FL

Estimated Rate: 3.4%

💡 What does Unemployment Rate mean?

Definition: The unemployment rate is the percentage of people in the labor force who do not have a job but are actively looking for one.

Labor Force = Employed + Unemployed (aged 16+ and actively participating in the workforce).

Formula: (Unemployed ÷ Labor Force) × 100

Does NOT include: People who are retired, students not looking for work, homemakers, or otherwise not seeking employment.

Example: If there are 1000 people in the labor force and 80 are unemployed, then the unemployment rate is 8%.

Similar Population

Santa Clara, CA129,239 Fargo, ND129,064 Norman, OK128,714 Lewisville, TX128,313 Carrollton, TX132,741 New Haven, CT132,893 Columbia, MO127,200 Abilene, TX127,130 Sterling Heights, MI133,473 Coral Springs, FL133,962

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.