Back in 2014, spending $500,000 on a house was generally reserved for high earners. The typical U.S. home sold for $159,000, while starter homes averaged just $101,000. Fast-forward to today, and prices have more than doubled: A standard home now sells for $440,000, with starter homes approaching $300,000.
These current prices have put homeownership out of reach for many – and things don't look to be improving. Prices are still rising, affordability keeps dropping, and starter homes are becoming harder to find as home values climb. This has created a very sluggish and difficult housing market. In fact, even the usual busy spring and summer buying seasons were unusually slow this year.
While $500,000 once stretched much further, in many cities today, it's not nearly enough. But what about Palm Bay?
To find out, Redfin Real Estate found listings near the $500,000 mark to see what types of homes you can actually afford in Palm Bay right now. Listings below $500,000 were included if necessary.
1120 Swiss Pointe Ln, Rockledge, FL 32955
- Price: $499,900
- 5 bedrooms, 2.5 bathrooms
- Square feet: 2,915
- See 1120 Swiss Pointe Ln, Rockledge, FL 32955 on Redfin.com
2051 Thornwood Dr Se, Palm Bay, FL 32909
- Price: $500,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,256
- See 2051 Thornwood Dr Se, Palm Bay, FL 32909 on Redfin.com
2391 Okalani St, Melbourne, FL 32940
- Price: $500,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,761
- See 2391 Okalani St, Melbourne, FL 32940 on Redfin.com
2120 Coconut Ln, Merritt Island, FL 32952
- Price: $500,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,587
- See 2120 Coconut Ln, Merritt Island, FL 32952 on Redfin.com
1737 Windbrook Dr Se, Palm Bay, FL 32909
- Price: $499,750
- 4 bedrooms, 2 bathrooms
- Square feet: 2,226
- See 1737 Windbrook Dr Se, Palm Bay, FL 32909 on Redfin.com
4183 Chelan Dr, Melbourne, FL 32934
- Price: $499,900
- 4 bedrooms, 2 bathrooms
- Square feet: 2,152
- See 4183 Chelan Dr, Melbourne, FL 32934 on Redfin.com
6126 Meghan Dr, Melbourne, FL 32940
- Price: $499,900
- 4 bedrooms, 2 bathrooms
- Square feet: 2,126
- See 6126 Meghan Dr, Melbourne, FL 32940 on Redfin.com
3143 Constellation Dr, Melbourne, FL 32940
- Price: $500,000
- 3 bedrooms, 3 bathrooms
- Square feet: 2,100
- See 3143 Constellation Dr, Melbourne, FL 32940 on Redfin.com
625 Breakaway Trl, Titusville, FL 32780
- Price: $499,900
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,720
- See 625 Breakaway Trl, Titusville, FL 32780 on Redfin.com
410 Hayes Ave, Cocoa Beach, FL 32931
- Price: $499,999
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,654
- See 410 Hayes Ave, Cocoa Beach, FL 32931 on Redfin.com
1330 Windchime Ln, Melbourne, FL 32935
- Price: $499,777
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,092
- See 1330 Windchime Ln, Melbourne, FL 32935 on Redfin.com
3 Indian River Ave, Titusville, FL 32796
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,108
- See 3 Indian River Ave, Titusville, FL 32796 on Redfin.com
1050 Fieldstone Dr, Melbourne, FL 32940
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,066
- See 1050 Fieldstone Dr, Melbourne, FL 32940 on Redfin.com
4999 Pine Lily Ct, Melbourne, FL 32940
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,041
- See 4999 Pine Lily Ct, Melbourne, FL 32940 on Redfin.com
4311 Chardonnay Dr, Rockledge, FL 32955
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,011
- See 4311 Chardonnay Dr, Rockledge, FL 32955 on Redfin.com
4998 Pine Lily Ct, Melbourne, FL 32940
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 2,001
- See 4998 Pine Lily Ct, Melbourne, FL 32940 on Redfin.com
154 Nemo Cir Ne, Palm Bay, FL 32907
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,966
- See 154 Nemo Cir Ne, Palm Bay, FL 32907 on Redfin.com
960 Falls Trl, Malabar, FL 32950
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,899
- See 960 Falls Trl, Malabar, FL 32950 on Redfin.com
1399 Outrigger Cir, Rockledge, FL 32955
- Price: $499,999
- 3 bedrooms, 2 bathrooms
- Square feet: 1,866
- See 1399 Outrigger Cir, Rockledge, FL 32955 on Redfin.com
3760 Elizabeth Springs Way, Melbourne, FL 32934
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,818
- See 3760 Elizabeth Springs Way, Melbourne, FL 32934 on Redfin.com
4541 Rosebud St, Port St John, FL 32927
- Price: $500,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,740
- See 4541 Rosebud St, Port St John, FL 32927 on Redfin.com
106 Tradewinds Dr, Indian Harbour Beach, FL 32937
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,732
- See 106 Tradewinds Dr, Indian Harbour Beach, FL 32937 on Redfin.com
8130 Cache Creek Ln, Melbourne, FL 32940
- Price: $499,990
- 3 bedrooms, 2 bathrooms
- Square feet: 1,731
- See 8130 Cache Creek Ln, Melbourne, FL 32940 on Redfin.com
2680 Avalonia Dr, Melbourne, FL 32940
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,722
- See 2680 Avalonia Dr, Melbourne, FL 32940 on Redfin.com
202 Ivory Coral Ln, Merritt Island, FL 32953
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,451
- See 202 Ivory Coral Ln, Merritt Island, FL 32953 on Redfin.com
432 N Neptune Dr, Satellite Beach, FL 32937
- Price: $499,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,406
- See 432 N Neptune Dr, Satellite Beach, FL 32937 on Redfin.com
877 N Highway A1A, Indialantic, FL 32903
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,405
- See 877 N Highway A1A, Indialantic, FL 32903 on Redfin.com
3220 River Villa Way, Melbourne Beach, FL 32951
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,375
- See 3220 River Villa Way, Melbourne Beach, FL 32951 on Redfin.com
383 N Atlantic Ave, Cocoa Beach, FL 32931
- Price: $499,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,049
- See 383 N Atlantic Ave, Cocoa Beach, FL 32931 on Redfin.com
406 Bluff Dr, Melbourne, FL 32901
- Price: $499,900
- 0 bedrooms, 4 bathrooms
- Square feet: 3,324
- See 406 Bluff Dr, Melbourne, FL 32901 on Redfin.com
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
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