The story of this market
The typical home in Melbourne, Florida sells for about $385,000, or $235 per square foot.
Prices are down 1.7% from a year ago, which gives buyers more room to negotiate. Homes take about 44 days to sell. HUD's fair market rent for a two-bedroom is $1,900 a month.
Monthly price momentum
Home values since 2015
+1%
FL · past 12 months
Freddie Mac House Price Index, single-family homes, monthly through 2026-08. Each line starts at 100 in January 2015, so a reading of 180 means prices are up 80% since then.
Melbourne, Florida
Melbourne's housing market is currently balanced, with a median price of $385,000 reflecting a slight year-over-year adjustment. The market is supported by a strong local economy anchored by the aerospace sector, though rising inventory levels and interest rate sensitivity are tempering rapid price growth. Overall, the city remains a stable destination for buyers and investors due to its diversified employment base and coastal lifestyle.
No ARED county foreclosure postings attributed to Melbourne yet — the verified ledger covers every county the foreclosure ingest has read, attributed by published city area. Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.
Deterministic aggregate of 5 researched ZIP reports — sales_count-weighted (population fallback); per point, children lacking the value or its weight are excluded. Tax rates, sentiment and context notes are tier-native and never roll.
Median prices moved down 1.9% year over year.
Homes spend a median of 63 days on market with 0.1 months of supply — a fast-moving market.
28% of listings have cut prices · homes sell at 1.26% of asking — demand is cooling.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 10.2% — a stable, low-distress profile.
The amenity base that shapes daily life and property demand in this city — what residents actually live with, and what the pipeline is adding.
A vibrant district featuring local boutiques, restaurants, and nightlife that serves as the cultural heart of the city.
A nationally recognized zoo offering interactive exhibits and conservation programs, serving as a major regional draw.
Provides extensive recreational opportunities including boating, fishing, and kayaking, significantly impacting property values along the waterfront.
A natural green space offering trails and wildlife viewing, contributing to the city's environmental appeal.
Melbourne is an ideal fit for families seeking quality schools, aerospace professionals working in the local tech corridor, and retirees attracted to the coastal lifestyle. The city offers a balanced mix of suburban residential neighborhoods and a vibrant, walkable downtown, making it attractive to a broad demographic of buyers and long-term renters.
The city is served by the Brevard Public Schools district, which generally maintains a solid reputation with several high-performing magnet and choice schools. Educational quality is considered a primary driver for family-oriented residential demand in the area.
The city is served by major corridors including US-1 and I-95, providing connectivity to the broader Space Coast and Orlando. Public transit is provided by Space Coast Area Transit, though the city remains primarily car-dependent for daily commuting.
Melbourne offers a diverse amenity base including the historic downtown district, extensive riverfront parks along the Indian River Lagoon, and proximity to Atlantic beaches. Residents benefit from numerous golf courses, the Brevard Zoo, and a variety of cultural venues that support a high quality of life.
The rental market in Melbourne remains competitive, characterized by steady demand from both local professionals and aerospace industry workers. While rent growth has moderated compared to the post-pandemic surge, vacancy rates remain low, and the presence of short-term rentals is concentrated near the barrier island and beachside areas.
Melbourne's economy is heavily anchored by the aerospace and defense sectors, with major employers like Northrop Grumman and L3Harris driving high-skill job growth. The city also benefits from a robust tourism industry and a growing technology sector, contributing to a stable and diversified economic base.
Melbourne serves as a major economic hub for the Space Coast, anchored by aerospace, defense, and technology sectors including Northrop Grumman and L3Harris. Infrastructure investment remains strong, with ongoing expansions at Orlando Melbourne International Airport and downtown revitalization projects driving sustained development momentum.
Development activity is focused on infill projects in the downtown area and expansion of industrial parks near the airport. The city is actively managing growth to balance new residential construction with infrastructure capacity.
Parcels in Melbourne are subject to various special districts, including municipal service taxing units (MSTUs) for specific infrastructure and the St. Johns River Water Management District for environmental oversight.
Melbourne experiences crime rates generally consistent with other mid-sized Florida coastal cities, with property crime being more prevalent than violent crime. Local law enforcement maintains active community policing initiatives to address localized hotspots. Regional comparisons indicate crime levels are typical for the Brevard County area.
As a coastal city, Melbourne faces risks from tropical storms and hurricanes, necessitating robust building codes and flood insurance coverage for many properties. The city actively manages stormwater infrastructure to mitigate flood risks in low-lying areas near the Indian River Lagoon.
Property insurance in Melbourne is influenced by coastal hazard exposure, with premiums reflecting the risk of wind and flood damage. The market remains sensitive to state-wide insurance reforms and the availability of private coverage.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Researched annual trajectory for this city, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this city's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Data retrieved from U.S. Census Bureau QuickFacts and ACS tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.