Melbourne, Florida.
Typical home $357,832 (-0.5% in a year), asking rent $1,841 (+0.7%). Palm Bay-Melbourne-Titusville, FL metro.
to buy the typical home at today's mortgage rate — +$990 (+111%) since Jan 2020.
- 1 year
- Down $1,750 -0%
- $359,582$357,832 since Sep 2025
- 5 years
- Up $52,286 +17%
- $305,546$357,832 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Melbourne$1,878
- Florida$1,970
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 22 years.
Typical home values in Melbourne, FL fell 0.5% over the past year — slower than the nation's +1.2%.
Asking rents in Melbourne, FL rose 0.7% over the past year — slower than the nation's +2.7%.
Owning the typical home in Melbourne runs $623/mo more than renting one. The gap peaked at $927 in Oct 2023.
That is $2,464 a month against $1,841 rent: a $1,878 mortgage payment, plus $203 property tax and $383 insurance & upkeep.
Owning vs renting — Melbourne
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$2,464
- Renting$1,841
- Mortgage only$1,878
Property tax · $203/mo 0.68% of value a year — the ACS 2020-2024 median bill over the median home value for Brevard County, FL
Insurance & upkeep · $383/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Melbourne, Brevard County, Florida
Melbourne is a city of 84,678 people in Brevard County. Half its households earn more than $66,991 a year and half less, against $78,476 across Brevard County; 16% of its people live below the poverty line. 60% of its homes are lived in by their owners and 40% are rented. Unemployment in Melbourne was 4.7% in August 2026, and Brevard County had 0.6% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Melbourne is a city on Florida's Space Coast, and one of the larger communities in Brevard County. Residents tend to be somewhat older than the typical American, and most homes are lived in by their owners. Household incomes run below the county's, and typical home values and rents sit at a fairly high level for a place with those incomes. Winters are mild, summers are hot, and snow is rare, with a good deal of rain over the year.
Work. Many residents work in schools, hospitals and social care, in professional and business services, in manufacturing and in shops. Among the largest workplaces in Melbourne are Northrop Grumman Systems, Holmes Regional Medical Center and Florida Institute of Technology. Unemployment is a little higher than a year earlier, and the county has added jobs only slightly. Commutes are of ordinary length, and a fair number of people work from home.
Things to do. Several places lie in or beside town, including the Foosaner Art Museum, the American Muscle Car Museum and Erna Nixon Park. A short drive away are Brevard Zoo and Lake Washington. For a longer outing, the United States Astronaut Hall of Fame is a longer drive away.
Report a mistake
- 37,041households
- 35%of adults have a degree
- 16%below the poverty line
- 23 mintypical commute
- 14%work from home
What residents work in
Employed residents by industry, from the Census survey. Brevard County had 243,568 jobs in 2025, 0.6% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 72° and lows near 50°; warmest in July, with highs near 91° and lows near 73°. About 55 inches of rain a year, and little or no snow.
Average daily high and low, 1991–2020, at the Melbourne Weather Office weather station, under a mile away (NOAA).
Largest employers in Melbourne
- Northrop Grumman6,818
- School Board of Brevard County3,354
- Florida Institute of Technology2,510
- Health First, Inc2,371
- L3Harris Technologies1,778
- Rockwell Collins, Inc.1,411
- City of Melbourne1,047
- Walmart852
From the City of Melbourne’s annual financial report for 2025, its schedule of principal employers (its source: “Revenue Department and companies listed above”), as Florida’s Auditor General publishes it: the report. Employees as the report counts them.
Natural hazards
- HurricanesVery high
- LightningRelatively high
- DroughtRelatively moderate
- Strong windRelatively moderate
- TornadoesRelatively moderate
- Inland floodingRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Melbourne’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Brevard County and the Palm Bay-Melbourne-Titusville, FL metro.
Melbourne home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Melbourne$357,832
- Florida$375,361
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 3 Melbourne listings, and the typical home goes pending in 33 days — the market is heating up.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Melbourne30.41%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Melbourne33
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Melbourne775
New listings per month
Sellers arriving at the market.
- Melbourne212
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Melbourne$354,946
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Melbourne97.05%
Zip codes with a Melbourne address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Melbourne — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Melbourne
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 32940 | Melbourne | 51,727 | $2,253 | $490,982 |
| 32935 | Melbourne | 41,965 | $1,590 | $268,182 |
| 32904 | Melbourne | 37,241 | $1,928 | $377,693 |
| 32901 | Melbourne | 28,923 | $1,733 | $267,369 |
| 32934 | Melbourne | 18,564 | $1,692 | $491,983 |