The central Florida city of Palm Bay has traveled light years from its origins as a small agricultural community with orange and banana groves to become a center of expansion on Florida’s Space Coast. Today, the city of more than 140,000 is home to Patrick Space Force Base and is conveniently located minutes from West Melbourne's tech and aerospace hub. “We’re the largest city in Brevard County, not only in population but also in land mass, so there’s a lot of space for growth,” says Nancy Peltonen, president and CEO of the Greater Palm Bay Chamber of Commerce.
Residential development continues in Palm Bay, which has annexed land in recent years to make room for new infrastructure projects. “They’re building left and right in Palm Bay. There are so many homes to choose from,” says Tammy Brown, a real estate agent with Atlantic Group Real Estate. “There are around 4,500 listings in Brevard County and about 2,000 are in Palm Bay. If you’re looking for brand new construction at a great price, you can’t really beat Palm Bay.”
Palm Bay, with over 140,000 residents, is home to Patrick Space Force Base.
Palm Bay is just minutes from West Melbourne's aerospace and tech hub.
Residential development in Palm Bay continues, with annexed land in recent years.
For brand-new construction at a great price, Palm Bay is unbeatable.
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Nearby West Melbourne tech sector provides an array of employment opportunities
Palm Bay’s growth is directly related to its proximity to the employment hub in neighboring West Melbourne. Several Northrop Grumman facilities anchor a collection of companies concentrated around the Melbourne Orlando International Airport, another major employer, about 6 miles away. Other companies represented include Lockheed Martin, Boeing, Raytheon, Collins Aerospace and L3Harris, a technology firm and defense contractor headquartered in West Melbourne. “Palm Bay is a place where people move who either work remotely or work in West Melbourne,” Brown says. “It’s more of a bedroom community, even though it is massive.”
As employment opportunities bring more residents to Palm Bay, the city has responded by annexing land for mixed-use development projects. The signature project is Ashton Park, located just east of Interstate 95 along the county’s tech corridor. Plans for the $2.5 billion project include 6 million square feet of commercial space, with more than 1 million set aside for a 50-acre downtown district, and approximately 3,700 single-family homes. Construction is slated to begin in 2025.
Palm Bay's growth is linked to its proximity to the employment hub in West Melbourne.
Several Northrop Grumman facilities anchor a cluster of companies near Palm Bay.
A major employer in Palm Bay is the Melbourne Orlando International Airport.
Palm Bay has annexed land for mixed use development, highlighted by Ashton Park.
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Demand is strong as homebuyers are attracted to lower prices
Residential expansion is evident in the many new communities. “There’s a lot of new construction in Palm Bay and more and more developments with an HOA, which was not a thing in the past here,” says David Jelinek, a broker associate with EXP Realty. Model homes line densely populated but walkable streets in these communities. Older housing is an eclectic mix of single-family homes spread throughout the city in non-HOA settings, many of them featuring spacious lots. Even some of the post-2000 homes are free of HOA fees and restrictions. The city also offers settings that cater to 55-plus and equestrian communities.
One thing to keep in mind when buying a home is that certain areas are not connected to city water and sewer. Home prices range from the low $200,000s to the low $900,000s. Condos and townhouses are concentrated on the city’s northeast side in proximity to the Indian River. Prices range from the low $100,000s for an inland option to the mid-$600,000s for a riverfront unit. The city’s median sales price is about $350,000, lower than the national median of $420,000. “Demand is very strong, and prices are modest in Palm Bay,” says Jelinek, who has been selling homes in Brevard for 36 years. “People are attracted to it because prices are lower than other cities in Brevard County.”
In neighboring Melbourne, the median sales price exceeds $400,000. Property taxes do tend to be higher, though, because the mostly residential city does not have a dedicated business sector contributing to the tax base. Palm Bay has traditionally avoided major flooding. However, the remnants of Hurricane Milton recently forced 467,000 gallons of sewage out of a broken sewer pipe and into neighborhood waterways. The incident prompted calls for infrastructure improvements amid continued growth. Insurance rates are likely to reflect the risk of severe weather, especially during hurricane season.
A beautiful new contemporary home reflects the residential expansion in Palm Bay.
Many older homes in Palm Bay offer spacious lots and no HOA.
Condos and townhouses are concentrated on Palm Bay's northeast side, near the Indian River.
People are drawn to Palm Bay homes due to their modest prices.
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Fred Poppe Regional Park, Turkey Creek Sanctuary are recreational highlights
More than two dozen parks and recreational centers are spread across the city. Fred Poppe Regional Park is a 200-acre green space on the city’s western edge that is the center of organized youth activity for baseball, softball and soccer. Its diverse amenities also include a disc golf course, a dog park and four lakes for fishing. The park is also home to the Ted Whitlock Community Center and hosts signature annual events such as the Strawberry Festival and Christmas Extravaganza. The coastal side of the city features several shorefront parks along the Indian River Lagoon. For more rural recreation, Turkey Creek Sanctuary Park is a city attraction that features almost 2 miles of boardwalk through natural habitats. Visitors can also take advantage of Blackwater Creek for fishing and kayaking. Oceanside parks offer more waterfront activity on the nearby barrier island of Melbourne Beach. However, easy access to the coast is limited in much of Palm Bay. “It’s kind of land-locked,” Brown says. “Depending on where you live in Palm Bay, it might take 45 minutes to get to the beach.”
Fred Poppe Regional Park is a 200-acre green space on Palm Bay's western edge.
Fred Poppe Regional Park offers a wide variety of activities for Palm Bay residents.
Visitors to Turkey Creek Sanctuary in Palm Bay often spot manatees and turtles.
Blackwater Creek is a great spot for Palm Bay residents to enjoy kayaking.
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Classical Academy charter school is rated A-minus
Classical Academy is the city’s highest-rated institution. The K-12 public charter school, rated A-minus by Niche, follows a classical education curriculum with an emphasis on “virtuous living, traditional learning and civic responsibility.” Most of the city’s schools are rated between B and B-plus. Brevard County offers limited school choice. One of the six schools to which eligible students can transfer is West Melbourne Elementary School of Science, a K-6 institution that earns an A-minus from Niche.
Pineapple Cove Classical Academy is the top-rated institution in Palm Bay.
West Melbourne Elementary School earns an A- score from niche.
The mission of Palm Bay Elementary School is to provide authentic learning experiences.
The large entrance to Bayside High School welcome students to class.
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Nearby downtown Melbourne is a popular gathering place
Shopping and dining options are found primarily at shopping centers and strip malls. Big-box retailers, grocery stores and restaurants are concentrated along the Interstate 95, Palm Bay Road and Babcock Street commercial corridors. Waterfront dining is available on the riverfront. The city does not have a formal downtown area, but Melbourne’s downtown district is a popular draw. “It’s very historic in its architecture and aesthetic, but it has tons of little cool shops, restaurants and bars,” Brown says. “My husband and I like to go there on a Saturday for a beer and have something to eat. It’s a great place to go.”
Shopping and dining options in Palm Bay are primarily found in strip malls.
Big box retailers and grocery stores are primarily located along Interstate 95 in Palm Bay.
Waterfront dining is available along the riverfront in Palm Bay.
Enjoy brick oven style pizza from Mister 01 in Downtown Melbourne.
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Growth has created traffic problems
The biggest issue to arise from the city’s rapid and ongoing growth is traffic. The city is expected to extend Saint Johns Parkway to help alleviate traffic, but the city does not have the transportation infrastructure to effectively support its expanding population. It is not particularly bike- or pedestrian-friendly, and public options are limited to Space Coast Area Transit buses and carpool programs. Interstate 95, which runs through a portion of the city’s northeast side, provides access to Melbourne and other cities along the coast. Health First’s Palm Bay Hospital is the primary medical center. It is located about a mile east of I-95.
Crime
According to the latest numbers from the FBI's Crime Date Explorer, the rates of violent crime and property crime have held steady from 2021 through 2023. Violent crime remains somewhat higher than the national average, while property crime is significantly lower.
I have over 19 years of experience in Real Estate including residential, commercial and properties. With more than a 100 transactions and USD 31 million sold in the last five years alone, I can bring my experience and knowledge to any transaction, regardless of its complexity. Selling or buying a property, one of the most important decisions we make in our lifetime, requires an agent with a particular set of skills to protect the interest of the client and you want to count with someone with experience to make sure your interests are well protected and defended. Please don't hesitate in contacting me if you have any questions or need assistance purchasing or selling a property.
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Gabe Porfilio Realtor/Team Leader Melentree Realty T: 4073018381 English/Español
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
