Last updated: 2024 BLS data · Page refreshed:
Palm Bay has a population of 130,132 with a median age of 41.0. Here is the racial and ethnic breakdown of the population:
| Demographic | Value |
|---|---|
| Total Population | 130,132 |
| Median Age | 41.0 |
| White | 55.4% |
| Black or African American | 20.4% |
| Asian | 2.3% |
| Hispanic or Latino | 20.6% |
| Other / Two or More Races | 1.3% |
The median household income in Palm Bay is $72,614, which is 9.9% below the national median of $80,610. The per capita income is $34,813. The poverty rate is 11.7%.
The unemployment rate in Palm Bay is 3.7%, compared to the national rate of 4.1%.
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In Palm Bay, 91.0% of residents age 25+ have a high school diploma or higher, and 24.0% hold a bachelor's degree or higher (9.3% with a graduate or professional degree).
| Education Level | % of Adults (25+) |
|---|---|
| High School Diploma or Higher | 91.0% |
| Bachelor's Degree or Higher | 24.0% |
| Graduate or Professional Degree | 9.3% |
The median home value in Palm Bay is $283,200, below the national median of $303,400. The median monthly rent is $1,601. The homeownership rate is 79.7%.
| Housing Metric | Value |
|---|---|
| Median Home Value | $283,200 |
| Median Monthly Rent | $1,601 |
| Homeownership Rate | 79.7% |
| Vacancy Rate | 8.6% |
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