BREVARD COUNTY, Fla. – Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value.
But with home prices reaching record heights affordability plays a huge role for buyers.
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The typical home value in the United States was a record $351,423 in August, 1.3% higher than the year before.
High mortgage rates are also making monthly payments more expensive; as of Sept. 21, the 30-year fixed mortgage rate sits at 7.19%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Palm Bay metro area using data from Zillow. Charts show the monthly typical home value since January 2018.
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#19. Micco, FL
- Typical home value: $236,577
- 1-year price change: -4.7%
- 5-year price change: +66.0%
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#18. Titusville, FL
- Typical home value: $279,821
- 1-year price change: +0.3%
- 5-year price change: +73.2%
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#17. Cocoa, FL
- Typical home value: $302,409
- 1-year price change: -0.0%
- 5-year price change: +71.6%
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#16. Palm Bay, FL
- Typical home value: $314,545
- 1-year price change: -2.2%
- 5-year price change: +69.8%
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#15. Cape Canaveral, FL
- Typical home value: $359,851
- 1-year price change: -1.8%
- 5-year price change: +62.2%
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#14. Mims, FL
- Typical home value: $373,968
- 1-year price change: +1.6%
- 5-year price change: +73.5%
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#13. Melbourne, FL
- Typical home value: $375,504
- 1-year price change: +0.4%
- 5-year price change: +63.5%
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#12. Rockledge, FL
- Typical home value: $397,625
- 1-year price change: -0.7%
- 5-year price change: +61.1%
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#11. West Melbourne, FL
- Typical home value: $411,681
- 1-year price change: -1.6%
- 5-year price change: +59.5%
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#10. Melbourne Village, FL
- Typical home value: $420,579
- 1-year price change: +0.1%
- 5-year price change: +60.5%
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#9. Palm Shores, FL
- Typical home value: $421,845
- 1-year price change: +2.1%
- 5-year price change: +64.4%
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#8. Merritt Island, FL
- Typical home value: $446,722
- 1-year price change: +0.7%
- 5-year price change: +61.9%
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#7. Indian Harbour Beach, FL
- Typical home value: $488,381
- 1-year price change: +1.8%
- 5-year price change: +63.7%
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#6. Cocoa Beach, FL
- Typical home value: $490,770
- 1-year price change: -1.0%
- 5-year price change: +59.2%
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#5. Malabar, FL
- Typical home value: $530,075
- 1-year price change: +1.8%
- 5-year price change: +68.9%
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#4. Satellite Beach, FL
- Typical home value: $535,882
- 1-year price change: -1.2%
- 5-year price change: +67.0%
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#3. Grant-Valkaria, FL
- Typical home value: $586,443
- 1-year price change: -0.6%
- 5-year price change: +69.2%
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#2. Melbourne Beach, FL
- Typical home value: $628,353
- 1-year price change: +1.8%
- 5-year price change: +71.7%
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#1. Indialantic, FL
- Typical home value: $690,712
- 1-year price change: +0.1%
- 5-year price change: +68.0%
This story features data reporting and writing by Elena Cox, and is part of a series utilizing data automation across 379 metros.
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