Investment metrics, interactive calculators, and data-driven analysis for Palm Bay rental properties.
Pre-filled with Palm Bay medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Palm Bay.
Palm Bay, FL has a population of 121,700 and has been growing at 2.2% annually — well above the national average, signaling strong housing demand from population inflows. The median home price of $295,000 paired with median rents of $1,420/mo produces an estimated cap rate of 3.79%.
Property taxes at 0.88% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 5.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 5.6x, homes cost about 5.6 times the local median income of $52,400. This moderate ratio indicates a balanced rent-vs-buy market. Home values have appreciated at roughly 3.6% annually. Above-average appreciation adds an equity component to total returns, though deals should still pencil on cash flow alone.
Bottom line: At current median prices, Palm Bay is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.