What is the cost of living in Palm Bay, FL?
According to the most recent data on the cost of living, Palm Bay has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Florida, Palm Bay has a cost of living index that's 1.0x lower than Florida's index of 104.
The standard of living in Palm Bay ranks as #143 most affordable out of the 462 places we measured in Florida. By definition, that implies Palm Bay ranks as the #319 most expensive place in the Sunshine State.
For more reading on life in Palm Bay, check out:
Palm Bay Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Palm Bay. Here is how it fares on each of the criteria:
The Services index in Palm Bay is 108.
The Groceries index in Palm Bay is 108.
The Health index in Palm Bay is 100.
The Housing index in Palm Bay is 107.
The Transportation index in Palm Bay is 114.
The Utilities index in Palm Bay is 104.
| Living Expense | Palm Bay | Florida | National Average |
|---|---|---|---|
| Overall | 104 | 104 | 100 |
| Services | 108 | 101 | 100 |
| Groceries | 108 | 105 | 100 |
| Health | 100 | 99 | 100 |
| Housing | 107 | 104 | 100 |
| Transportation | 114 | 109 | 100 |
| Utilities | 104 | 105 | 100 |
Palm Bay Cost Of Living Compared To Florida Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Florida, check out:
Protect your home budget Compare home warranties in Palm Bay Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Palm Bay, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Palm Bay is $302,461.
The Median Rent in Palm Bay is $1,601.
The Median Income in Palm Bay is $72,614.
The Home Value To Income in Palm Bay is 4.2x.
The Rent To Monthly Income in Palm Bay is 0.26x.
Palm Bay, FL Costs By Category
Detailed Palm Bay Services costs vs. Florida
Detailed Palm Bay Groceries costs vs. Florida
Detailed Palm Bay Health costs vs. Florida
Detailed Palm Bay Transportation costs vs. Florida
Palm Bay SnackAbility
Cost Of Living In Cities Around Palm Bay
The cost of living varies in the cities and towns around Palm Bay. Here's a quick look at the cost of living in the most populous nearby places:
Melbourne, FL has a cost of living index of 106, 1.0x Palm Bay.
West Melbourne, FL has a cost of living index of 115, 1.1x Palm Bay.
Sebastian, FL has a cost of living index of 108, 1.0x Palm Bay.
| City | Population | Cost Of Living | Vs. Palm Bay |
|---|---|---|---|
| Melbourne, FL | 86,576 | 106 | 1.0x |
| West Melbourne, FL | 28,795 | 115 | 1.1x |
| Sebastian, FL | 26,262 | 108 | 1.0x |
| Viera East, FL | 12,570 | 117 | 1.1x |
| Satellite Beach, FL | 11,313 | 125 | 1.2x |
| Indian Harbour Beach, FL | 9,025 | 121 | 1.2x |
| Micco, FL | 8,896 | 96 | 0.9x |
