Compare Palm Bay, FL mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Palm Bay.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Palm Bay. Plus, shopping lenders is free and there is no obligation.
August 17, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Palm Bay. Understand how much you need to earn to afford a home in Palm Bay, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Palm Bay fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Palm Bay is right for you.
The median home value for Palm Bay, FL (Brevard County) is $324,478
Based on current mortgage rates and a 10% down payment, you need to make $67,691 per year to buy the median priced home in Palm Bay
With this income, you could qualify for a $292,030 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Palm Bay is $1,568
The median household income for Palm Bay, FL (Brevard County) is $66,287
Based on this income, you can afford a home valued at approximately $317,746
The home price you can afford to buy based on household income in Palm Bay is 98% of the median home value which means housing prices are expensive. Palm Bay (Brevard County) ranks 43 out of 67 counties in Florida and 2,835 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Palm Bay, FL is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Palm Bay (Brevard County) below.
Conforming loan limits for Palm Bay, FL
FHA loan limits for Palm Bay, FL