The housing market in Palm Bay, FL is thriving. The median value of houses is currently $301,500, which is significantly lower than the US house median value of $338,100. However, the one-year appreciation for houses in Palm Bay has been higher than the national average at 20.52%, while the national average for one-year house appreciation stands at 8.27%. These figures suggest that the housing market in Palm Bay is growing quickly and may be a great investment opportunity for prospective buyers.
The median home cost in Palm Bay is $301,500. Home appreciation the last 10 years has been 211.6%. Home Appreciation in Palm Bay is up 26.8%.
Average Age of Homes
- The median age of Palm Bay real estate is 29 years old
The Rental Market in Palm Bay
- Renters make up 22.2% of the Palm Bay population
- 1.1% of houses and apartments in Palm Bay, 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.