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The total population of Palm Bay is estimated to be 121,513 with 59,884 males (49.28%) and 61,629 females (50.72%). There are 1,745 more females than males in Palm Bay.
The median household income in Palm Bay was $60,491 in 2021, which marked an an increase of 1,075(1.81%) from $59,416 in 2020. This income is 81.08% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Palm Bay sees its highest median household income among householders in the age group of under 25 years old, at $110,022. Overall, the median household income for the city of Palm Bay stands at $71,645.
In Palm Bay, the median income for all workers aged 15 years and older, regardless of work hours, was $40,773 for males and $27,869 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,904 for males and $44,710 for females.
In Palm Bay, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Asian households have the highest median household income at $97,787, while Black or African American households represent the opposite end with the lowest median household income of $54,437.
In 2022, the population of Palm Bay was 129,234, a 5.11% increase year-by-year from 2021. Previously, in 2021, Palm Bay's population was 122,952, an increase of 2.33% compared to a population of 120,154 in 2020.
The median age in Palm Bay, FL is 40.9, as per 2021 ACS 5-Year Estimates. Of the total population, 17.88% were under the age of 15, 18.71% aged 15 to 29, 45.32% aged 30 to 64, 15.63% aged 65 to 84, and 2.47% were 85 years of age and older.
Racial distribution of Palm Bay population: 65.60% are White, 18.50% are Black or African American, 0.26% are American Indian and Alaska Native, 1.94% are Asian, 0.01% are Native Hawaiian and other Pacific Islander, 3.10% are some other race and 10.59% are multiracial.