There are currently 43,585 real estate properties in Palm Bay, FL, with a median automated valuation model (AVM) price of $300,526.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Palm Bay, FL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Palm Bay, FL, is $308,102.00, with the most expensive house in Palm Bay, FL, topping out at $6,457,550.00 and the cheapest home in Palm Bay, FL, clocking in at $18,600.00. In other words, there’s something for every potential homebuyer or savvy investor in Palm Bay, FL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Palm Bay, FL, is on a rollercoaster ride. The average rent price in Palm Bay, FL, is $1,320.00. Indeed, when looking to rent in Palm Bay, FL, you can expect to pay as little as $570.00 or as much as $4,200.00, with the average rent median estimated to be $1,330.00. The good news is that finding an affordable and desirable property to rent in Palm Bay, FL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Palm Bay is located in Brevard, Florida, with an estimated municipal population of 115,552 residents. All of the best foreclosed homes for sale in Palm Bay are located in the following zip code areas on Foreclosure.com: 32909 32905 32907 32976 32948 32908 32902 32906 32910 32911. The estimated population per square kilometer (.62 miles) in Palm Bay is 456.
So, about how much do homes cost in Palm Bay? The most recent median value of resident-owned homes in Palm Bay is 152,914. An estimated 74.5 percent of households in Palm Bay own their homes, with an average family size of 3.48. The median household income in Palm Bay is 51,408, with15.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Palm Bay, the median commute time of resident workers (in minutes) is 26.6. And last, but certainly not least, are you looking for homes to rent in Palm Bay? If so, the average rent price paid by renters in Palm Bay is 1,059, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Palm Bay, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Palm Bay is 40.3, split between 48.8 percent male versus 51.2 female. The percentage of residents who report being married in Palm Bay is 45.5, with an average family size of 3.48.
The percentage of residents who report their race in Palm Bay is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Palm Bay? Or maybe you are searching for 55+ active adult communities in and/or near Palm Bay?
The percentage of residents who report their age in Palm Bay is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Palm Bay with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Palm Bay.
How do you know that living in -- or moving to -- Palm Bay is right where you need to be? Perhaps you grew up in Palm Bay or already live nearby; therefore, the decision to buy a home in Palm Bay is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Palm Bay for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Palm Bay:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Palm Bay.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Palm Bay can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Palm Bay, meanwhile, can field multiple offers from more qualified buyers.
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