The housing market in Palm Bay-Melbourne-Titusville, FL Metro Area is currently strong. The median value of housing is $357,500, which is higher than the US median value of $338,100. Furthermore, the 1 year house appreciation in the area is 17.81%, which is significantly higher than the US average of 8.27%. This indicates that the area has seen a significant increase in housing prices over the last year and will likely continue to appreciate in the near future.
The median home cost in Palm Bay-Melbourne-Titusville Metro Area is $357,500. Home appreciation the last 10 years has been 209.1%. Home Appreciation in Palm Bay-Melbourne-Titusville Metro Area is up 26.6%.
Average Age of Homes
- The median age of Palm Bay-Melbourne-Titusville Metro Area real estate is 32 years old
The Rental Market in Palm Bay-Melbourne-Titusville Metro Area
- Renters make up 22.6% of the Palm Bay-Melbourne-Titusville Metro Area population
- 2.4% of houses and apartments in Palm Bay-Melbourne-Titusville Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.