The story of this market
The typical home in ZIP 32905 sells for about $234,776, or $192 per square foot.
Prices are down 4.7% from a year ago, which gives buyers more room to negotiate. Homes take about 74 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,474 a month.
ZIP 32905 — Palm Bay
The 32905 housing market is currently leaning toward buyers, with a median home value of approximately $234,776. While year-over-year prices have seen a slight decline, the area remains an affordable option within the Space Coast region, supported by steady demand and a 4.7-month supply of inventory.
This ZIP fits family buyers and commuters seeking an affordable entry point into the Space Coast housing market.
Median prices moved down 4.7% year over year.
Homes spend a median of 74 days on market with 4.7 months of supply — a balanced-paced market.
25% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.5% · poverty 15.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 0.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 32905, Brevard County FL
Palm Bay serves as a commuter-and-family town with proximity to the Space Coast tech corridor and regional beaches.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Residents typically commute toward the Melbourne and Space Coast employment hubs.
The area features access to local parks, lakes, and proximity to the Atlantic coastline and regional golf courses.
The rental market shows a gross rent yield of approximately 8.13% with moderate vacancy pressure.
The local economy is anchored by the broader Space Coast tech and aerospace industry mix.
The area is served by major highway corridors connecting to the Melbourne-Titusville metro region.
Development is focused on residential expansion and supporting infrastructure for the growing Space Coast population.
Brevard County Central Appraisal District manages assessments based on market value and state-mandated exemptions.
Parcels are subject to Brevard County and Palm Bay municipal tax and utility districts.
Property insurance in this coastal region is subject to market-wide premium adjustments due to wind and storm exposure.
Data sourced from SimpleMaps US Zips Database and ACS 2024.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Urban Air Trampoline and Adventure Park4.116.3 mi
- Chuck E. Cheese4.36.9 mi
- Sky Zone Trampoline Park4.519.8 mi
- Sky Zone Trampoline Park4.32.9 mi
- Harris Establishment Farms - U-Pick & Farm Adventures4.77.6 mi
- USSSA Space Coast Complex4.417.9 mi
- Grills Riverside Seafood Deck & Tiki Bar4.413 mi
- Capt Hirams Resort4.416.4 mi
- The Shack Riverfront Restaurant & Outback Tiki Bar!4.52.2 mi
- Route 7 Karting & Entertainment4.514.1 mi
- Wickham Park4.79.9 mi
- Paradise Beach4.86.7 mi
- Canova Beach Park4.67.7 mi
- AMC West Melbourne 124.23.6 mi
- Downtown Melbourne4.53.3 mi
- American Muscle Car Museum4.77.9 mi
- Mel Fisher's Treasures4.616.8 mi
- McLarty Treasure Museum4.717.1 mi
- Black Dog Bait and Tackle4.73.9 mi
- Green Gables4.63.8 mi
- Florida Institute of Technology4.32.6 mi
- Wickham Park4.79.9 mi
- Canova Beach Park4.67.7 mi
- Fred Poppe Regional Park4.67.9 mi
- Turkey Creek Sanctuary4.80.9 mi
- Capt Hirams Resort4.416.4 mi
- Eau Gallie Yacht Club4.67.9 mi
- Palm Bay Marina4.51.6 mi
- Anchorage Yacht Basin4.77.5 mi
- Melbourne Harbor Marina4.33.4 mi
- The Habitat Golf Course4.55.7 mi
- Crane Creek Reserve3.93.5 mi
- Aquarina Golf Club4.310.4 mi
- Spessard Holland Golf Course4.53.6 mi
- Mallards Landing Golf Course3.69 mi
- Melbourne Square4.24.5 mi
- Renningers Flea and Farmers Market4.38.6 mi
- Publix Super Market at Windover Square4.54.7 mi
- Thrifty Specialty Produce & Meats4.50.5 mi
- Sprouts Farmers Market4.23 mi
- Melbourne Orlando International Airport4.55.5 mi
- Vero Beach Regional Airport4.328.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major residential and recreational community hub in the area.
A primary residential district serving the ZIP code.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.