Is Palm Bay, Florida A Good Place To Live?

Rarely will you ever get the chance to get in on the ground floor of something big. However, you may have that exact opportunity if you decide to move to Palm Bay, Florida.

Don’t be surprised if you haven’t heard much about the city previously. Palm Bay is not exactly on the radar for everyone, even for those who are considering moving to the state. Still, there are reasons to believe that Palm Bay is on the verge of blowing up big time.

The job market in Palm Bay has held fairly steady recently and projections indicate significant growth over the next few years. You can even lock down a very affordable home there if you decide to move now. Before making any final decision though, you must know that the crime rates in Palm Bay are higher than average.

Moving to Palm Bay could prove to be a smart move on your part, but it’s not without risk. Learn more about the pros and cons of that potential move by continuing with this article.

What’s the main reason why you should consider moving to Palm Bay? The job market there is probably the number one reason at the moment.That may seem like a confusing statement. After all, it’s not like the city’s economy is booming right now.

The unemployment rate in the city is about what you’d expect. It’s in line with the country-wide average of about 3.7 percent. The median household income for Palm Bay residents is also below average for the country.

So, what is there to like about Palm Bay’s economy? It’s the future market that is proving to be the most tantalizing. The job market in the city has grown by about 2 percent recently. Even more significant growth could be on the horizon.

Projections are especially rosy as they are hinting at a potential growth of about 42 percent over the next decade. For the sake of comparison, the expected job growth rate for the country is 34 percent. That’s a massive gap and it speaks to the kind of potential Palm Bay possesses.

The migration of different corporations to Palm Bay is helping drive that growth. If that keeps up as expected, Palm Bay could transform into a true hotspot for Central Florida.

Another reason why Palm Bay is emerging as an appealing place to move to is the abundance of affordable homes there. Florida is actually pretty close to the country average in terms of house prices. The state is just ever so slightly above average in that regard.

In Palm Bay though, the housing situation is quite different. The median home price in the city is $178,000. That is nearly $60,000 cheaper than the median price for a home in the state of Florida. Palm Bay is a good city even for younger professionals who may not have that much money saved up just yet. You need to act quickly if you want one of those affordable homes though.

Given the growth Palm Bay is expected to experience in the coming years, house prices are likely to skyrocket there. If you want an affordable home in Palm Bay, you’ll have to make your move sooner rather than later.

Palm Bay itself doesn’t have a beach, but you don’t have to go far to find one. The city is located right next to Melbourne and that’s where you’ll find Melbourne Beach. Even coming from Palm Bay, it will only take you about 30 to 40 minutes to hit the sands. Living right next to the beach would be great, but being less than an hour away is not too bad either.

You can even argue that living in a city apart from the beach can be beneficial in some ways. The streets of Palm Bay are certainly less crowded and the city has a more relaxed atmosphere.

The main reason why most people will likely second guess a possible move to Palm Bay is the crime rate there. According to Neighborhood Scout, Palm Bay is safer than only 28 percent of the cities in the United States. The city is also saddled with a property crime rate of 17.14 per 1,000 residents. Meanwhile, the violent crime rate is at 3.43 per 1,000 residents.

The threat of being victimized is a real thing in Palm Bay. You have to protect yourself adequately against that. Installing a security system and some security cameras will definitely help.

Do note that there are some encouraging developments regarding crime in Palm Bay. The crime rate in the city has been trending downward recently. The violent crime rate, in particular, has gone down quite a bit.

Whether the crime rates will continue to trend in the right direction as Palm Bay grows will be something to watch. Positive developments when it comes to curbing crime will make Palm Bay an even more appealing place to stay in.

Spending a free weekend in Palm Bay is not so bad if you like going to the beach. Just about everyone loves relaxing along the ocean with clear skies overhead. The issue is that beach access is pretty much all that Palm Bay has to offer in terms of entertainment. If you’re not a big beach lover or you want something different, you’re out of luck.

You may have to look elsewhere for recreation if you have a free weekend. There are cities relatively close by that have way more to offer in terms of attractions.

We noted earlier that houses in Palm Bay are affordable, but that they could become more expensive sometime soon. The same goes for other cost of living expenses in Palm Bay.

It’s difficult to tell right now just how high those expenses could climb. Even so, you have to be prepared for something like that to happen if you intend to live in Palm Bay.

Those who are planning to move to Palm Bay should do so as soon as possible. They may be unable to take advantage of the affordable cost of living expenses if they wait around too long.

Related Questions

What Are the Major Industries in Palm Bay?

The major industries in Palm Bay are healthcare, trading, and manufacturing. You should be able to find work faster if you have experience in one of those industries.It will be interesting to see how those industries grow along with the city. They may not necessarily be the ones that benefit most from Palm Bay’s expected growth.The scientific and tourism sectors are the ones that may be in prime position to expand. Searching for jobs in Palm Bay that are based within those industries could be a good move right now.

What Does Palm Bay Have to Offer in Terms of Public Schools?

Public schools in Palm Bay rate average to slightly above average. There are highly rated schools in the area, but they are limited in number. Keep that in mind if you’re moving to Palm Bay together with your family.You can also send your kids to one of the private schools in the city. Palm Bay has a decent selection of private schools to choose from. Check them out carefully and see which educational institution can serve your children best.