Cost of Living in Palm Bay, FL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
118.1
100 = national avg
+18.1 vs national average
Living Wage (1 Adult)
$51,947
per year
Living Wage (Family of 4)
$122,784
per year
Cost Index by Category
Housing142.7
Food101.6
Transportation108.9
Healthcare101.3
Utilities109.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,478
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Palm Bay is 118.1, which is 18.1% above the national average. Housing costs are above the national average at an index of 142.7. A single adult needs to earn approximately $51,947 per year to cover basic expenses.