Real Estate Investing in Palm Bay, Florida (32905)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 32905 (Palm Bay, FL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 17.4% of homes vacant — above national norms.
What’s happening in Palm Bay, FL (32905)?
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Market Analysis: 32905 Palm Bay
Investors eyeing 32905 need to respect the fundamentals at play. Home values of $235K come alongside slower price movement and elevated management overhead.
Rent of $1,590/mo on a $235K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 32905 sits below the stated 0.0% once reality is priced in.
The gap between 32905 and stronger Palm Bay ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 32905 ZIP's population of 24,473 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
The 32905 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Palm Bay:
Property Strategy for 32905
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $167,238 | $1,630 | 7.0% | +7.1% | $83,619 |
| 3BR | $259,837 | $2,220 | 6.2% | +7.0% | $86,612 |
| 4BR | $356,516 | $2,520 | 5.1% | +7.4% | $89,129 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 32905 Compare?
| Metric | 32905 | Palm Bay | Palm Bay-Melbourne-Titusville, FL | Florida |
|---|---|---|---|---|
| Home Value | $234,776 | $294,757 | N/A | $374,697 |
| 5-Year CAGR | 3.5% | 3.9% | N/A | 7.4% |
| Avg Rent | $1,590 | $1,958 | N/A | - |
| Cap Rate | 5.3% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32905 (Palm Bay, FL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 32905 (Palm Bay, FL)?
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Property managers serving Brevard County
Manage rentals here? List your business →Solutions Property Management LLC offers residential, multi-family, commercial, and community association property management services in Melbourne, including marketing, tenant screening, rent collect summary from their website
Aamerican Property Management provides services for renters, including rental FAQs, online applications, online payments, and maintenance requests. summary from their website
All Brevard Property Management is a property management company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $234,776 |
| Monthly Rent | $1,590 |
| Price-to-Rent | 12.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.1% |
| Cap Rate | 5.3% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | -1.7% ▼ |
| 3-Year CAGR | -2.7% ▼ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | -4.2% ▼ |
| 3-Year CAGR | -1.8% ▼ |
| 5-Year CAGR | +2.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32905
Population: 24,473
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 32905
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,610 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Palm Bay, FL?
Typical homes in Palm Bay, FL go for around $235K. The 5-year CAGR of 0.0% predictable price movement.
Should investors worry about vacancy in Palm Bay, FL?
Vacancy in Palm Bay, FL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,590/mo.
How deep is the rental pool in Palm Bay, FL?
Expect a solid tenant pool in Palm Bay, FL. The rental market absorbs $1,590/mo rents without meaningful friction.
Can I house hack in Palm Bay, FL?
Palm Bay, FL offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,590/mo rent level.
How does Palm Bay, FL rate as a rental market?
Palm Bay, FL rates 3.0/5 for investability. With median values at $235K and rents near $1,590/mo, the market offers reasonable fundamentals for rental investors.
You know 32905 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 32905 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 32905 ranks in Palm Bay-Melbourne-Titusville, FL
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