Melbourne, FL—32901
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melbourne, FL
As of Oct '25, the median home price in Melbourne, FL is $266,000, with a year-over-year change of -6.3%. This indicates that home prices in Melbourne, FL are decreasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $266,000 | -6.3% |
| Single Family | $275,000 | -6.1% |
| Condos | $208,000 | -8.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $187,000 | -8.3% |
3 Bed | $282,000 | -6.0% |
4 Bed | $342,000 | -5.0% |
| 5 Bed | $387,000 | -4.7% |
% of Housing Stock
Rental Trends — Melbourne, FL
As of July '25, Rentcast reports the average rent in Melbourne, FL is $1,900, with a year-over-year rent change of -4.5%. Per bedroom, the median rent as of July '25 in Melbourne, FL is studios: $1,190, 1-bedrooms: $1,280, 2-bedrooms: $1,740, 3-bedrooms: $2,290, 4-bedrooms: $2,540. The most common rental property sizes in Melbourne, FL are 2-bedroom and 1-bedroom, accounting for 38.2% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,900 |
| Studio Rent | $1,200 | $1,190 |
| 1 Bed Rent | $1,300 | $1,280 |
| 2 Bed Rent | $1,700 | $1,740 |
| 3 Bed Rent | $2,100 | $2,290 |
| 4 Bed Rent | $2,400 | $2,540 |
% of Rental Stock
Property Listings — Melbourne, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Melbourne, FL is 69. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | -5.0% |
Listing Count | 171 | 14.0% |
| Listings as % of Homes | 0.7% | 14.0% |
Days on Market | 69 | 20.0% |
Demographics — Melbourne, FL
As of the latest ACS Survey released in 2023, Melbourne, FL has a population of 28,600, which has increased by 15.3% over the past 5 years. Melbourne, FL is a moderately popular place for families, as children make up 16.0% of the population. The area has a moderately educated workforce, with 30.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,600 | 15.3% |
% Under 18 | 16.0% | 31.1% |
% Seniors | 25.0% | -6.0% |
% WFH | 12.5% | 127.3% |
% w/ College Degree | 30.8% | 14.1% |
As of the latest ACS Survey released in 2023, Melbourne, FL is a predominantly white area, with 62.4% of the population identifying as white. The white population has grown by 3.1% in the last 5 years. The second most common race or ethnicity in Melbourne, FL is black, making up 18.6% of the population. Foreign-born residents account for 14.0% of the population in Melbourne, FL, and this percentage has decreased by 1.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 62.4% | 3.1% |
% Black | 18.6% | -14.7% |
% Hispanic | 10.8% | 9.1% |
% Asian | 4.1% | -14.6% |
% Foreign Born | 14.0% | -1.4% |
Mortgage and Risk — Melbourne, FL
According to HUD data as of 2023, there were 216 mortgage originations in Melbourne, FL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Melbourne, FL. Investor activity is low, as 5.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 216 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 5.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Melbourne, FL
As of 2024, the percent of homes in Melbourne, FL under the Section 8 program is 20.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Melbourne, FL, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,335 |
Total Units Section 8 | 1,191 |
% Rentals under Section 8 | 20.3% |
% Occupied Section 8 | 90.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $0 | $1,300 | $1,300 |
| 2 Bedroom | -$190 | $1,700 | $1,510 |
| 3 Bedroom | -$50 | $2,100 | $2,050 |
| 4 Bedroom | -$50 | $2,400 | $2,350 |
Affordability — Melbourne, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $266,000 |
| Median Household Income | $50,600 |