Real Estate Investing in Palm Bay, Florida (32909)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 32909 (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.
- Elevated vacancy: 8.7% vacancy may signal weakening demand.
What’s happening in Palm Bay, FL (32909)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 32909 Palm Bay
ZIP 32909 inside Brevard County looks affordable on the surface — median value of $320K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 32909 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
From a cash-flow lens, 32909 offers a low basis, the region around Palm Bay has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 32909 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 32909 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Palm Bay:
Property Strategy for 32909
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $207,106 | $1,740 | 6.0% | +6.8% | $103,553 |
| 3BR | $291,395 | $2,370 | 5.9% | +7.0% | $97,132 |
| 4BR | $351,747 | $2,690 | 5.5% | +6.5% | $87,937 |
| 5BR | $444,467 | — | — | +6.9% | $88,893 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 32909 Compare?
| Metric | 32909 | Palm Bay | Palm Bay-Melbourne-Titusville, FL | Florida |
|---|---|---|---|---|
| Home Value | $319,759 | $294,757 | N/A | $374,697 |
| 5-Year CAGR | 3.9% | 3.9% | N/A | 7.4% |
| Avg Rent | $2,013 | $1,958 | N/A | - |
| Cap Rate | 4.9% | 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 32909 (Palm Bay, FL). Anonymous, moderated, never written by AI.
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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 | $319,759 |
| Monthly Rent | $2,013 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 8.9% |
📈 Home Appreciation
| 1-Year | -0.7% ▼ |
| 3-Year CAGR | -1.3% ▼ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -0.3% ▼ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). 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 32909
Population: 39,611
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 32909
Schools in This ZIP Code
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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
Frequently Asked Questions
How tight is the rental market in Palm Bay, FL?
Vacancy risk in Palm Bay, FL is elevated. That supports consistent cash flow for typical rental holds.
Is the tenant base reliable in Palm Bay, FL?
The renter base in Palm Bay, FL is reasonable for the $2,013/mo price point. Screening well and pricing to market typically yields even-keeled tenants.
What do rentals go for in Palm Bay, FL?
Average rent in Palm Bay, FL is approximately $2,013/mo per month. Against $320K home values that yields a reasonable rent-to-price ratio.
Which real estate strategy fits Palm Bay, FL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Palm Bay, FL. The numbers - $320K homes against $2,013/mo rents - support that play.
What is the investability score for Palm Bay, FL?
Yes - Palm Bay, FL a 3.0/5 investability score. With $320K home prices against $2,013/mo monthly rent, the market delivers a reasonable entry point for new investors.
You know 32909 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 32909 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 32909 ranks in Palm Bay-Melbourne-Titusville, FL
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