Melbourne Beach, FL—32951
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melbourne Beach, FL
As of Oct '25, the median home price in Melbourne Beach, FL is $622,000, with a year-over-year change of -4.7%. This indicates that home prices in Melbourne Beach, FL are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $622,000 | -4.7% |
| Single Family | $677,000 | -5.4% |
| Condos | $380,000 | -4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $376,000 | -7.4% |
3 Bed | $637,000 | -5.1% |
4 Bed | $899,000 | -4.6% |
| 5 Bed | $1,597,000 | -3.4% |
% of Housing Stock
Rental Trends — Melbourne Beach, FL
As of July '25, Rentcast reports the average rent in Melbourne Beach, FL is $3,500, with a year-over-year rent change of 1.7%. Per bedroom, the median rent as of July '25 in Melbourne Beach, FL is studios: $1,400, 1-bedrooms: $1,720, 2-bedrooms: $2,550, 3-bedrooms: $3,820, 4-bedrooms: $5,420. The most common rental property sizes in Melbourne Beach, FL are 2-bedroom and 3-bedroom, accounting for 37.0% and 25.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,500 |
| Studio Rent | $1,400 | $1,400 |
| 1 Bed Rent | $1,700 | $1,720 |
| 2 Bed Rent | $2,400 | $2,550 |
| 3 Bed Rent | $3,500 | $3,820 |
| 4 Bed Rent | $4,700 | $5,420 |
% of Rental Stock
Property Listings — Melbourne Beach, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Melbourne Beach, FL is 109. This is a increase of 5.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $784,000 | -11.0% |
Listing Count | 168 | -7.0% |
| Listings as % of Homes | 1.3% | -7.0% |
Days on Market | 109 | 5.0% |
Demographics — Melbourne Beach, FL
As of the latest ACS Survey released in 2023, Melbourne Beach, FL has a population of 11,200, which has decreased by -7.2% over the past 5 years. Melbourne Beach, FL is a less popular place for families, as children make up 9.7% of the population. The area has a highly educated workforce, with 52.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,200 | -7.2% |
% Under 18 | 9.7% | -24.8% |
% Seniors | 44.5% | 23.6% |
% WFH | 26.9% | 73.5% |
% w/ College Degree | 52.3% | 11.3% |
As of the latest ACS Survey released in 2023, Melbourne Beach, FL is a predominantly white area, with 89.4% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Melbourne Beach, FL is hispanic, making up 4.8% of the population. Foreign-born residents account for 6.3% of the population in Melbourne Beach, FL, and this percentage has decreased by 25.9% 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 | 89.4% | -2.8% |
% Black | 0.3% | 50.0% |
% Hispanic | 4.8% | -2.0% |
% Asian | 1.5% | -6.2% |
% Foreign Born | 6.3% | -25.9% |
Mortgage and Risk — Melbourne Beach, FL
According to HUD data as of 2023, there were 216 mortgage originations in Melbourne Beach, FL, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Melbourne Beach, FL. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 216 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 2.0% |
% Second Loans | 12.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Melbourne Beach, FL
As of 2024, the percent of homes in Melbourne Beach, FL under the Section 8 program is 0.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Melbourne Beach, 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 | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,700 | $1,690 |
| 2 Bedroom | -$440 | $2,400 | $1,960 |
| 3 Bedroom | -$830 | $3,500 | $2,670 |
| 4 Bedroom | -$1,650 | $4,700 | $3,050 |
Affordability — Melbourne Beach, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $622,000 |
| Median Household Income | $88,900 |