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Palm Bay city, FL

ZIP 32907 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 32907

Median Home Value
$253,700
Median Rent
$1,436
Affordability Snapshot
$70,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,630/mo PITI).

24%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

14.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 32907 in Palm Bay city, FL, a household would need roughly $70,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,630. That is roughly in line with the local median household income ($71,827). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
85.9%+31% vs US avg
x
Vacancy Rate
6.5%-37% vs US avg
x
Broadband Access
92.6%+6% vs US avg
x
4+ Bedrooms
1.9%-87% vs US avg
x
Built Pre-1939
0.0%
x
Built Post-2014
1.3%-82% vs US avg
x
Rent Burden >30%
25.4%-49% vs US avg
x
Mortgage-Free
35.6%-7% vs US avg
x
$253,700
Home Value
$1,436
Rent
1991
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached93.9%
  • 1-unit attached0.9%
  • 2-9 units0.5%
  • 10+ units1.4%
  • Mobile home & other3.3%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$253,700
Median rent$1,436
Owner-occupied85.9%
Vacant6.5%
Price-to-income3.5x
Est. income to buy$70,000