The typical owner-occupied home in Melbourne Beach is worth about $708,400, 97% above the Florida median of $359,000 and 2.1 times the national median of $332,700. Owners pay a median $4,171 a year in property taxes, about 0.59% of their home's value, lower than the Florida rate of 0.76%. The median household earns $102,857 a year, so the median home costs 6.9 times the median income (4.8 times for Florida). 82% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Melbourne Beach at a glance
| Melbourne Beach | Florida | U.S. | |
|---|---|---|---|
| Median home value | $708,400 | $359,000 | $332,700 |
| Median property tax paid per year | $4,171 | $2,730 | $3,119 |
| Property tax as a share of value | 0.59% | 0.76% | 0.94% |
| Median household income | $102,857 | $74,568 | $80,734 |
| Homes lived in by their owners | 82% | 68% | 65% |
| Owner homes with a mortgage | 46% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,812 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 26.2% | 23.6% | 21.0% |
| Median rent | $1,307 | $1,669 | $1,413 |
| Rent as a share of renters' income | 33.8% | 35.2% | 30.6% |
| Median year homes were built | 1974 | 1988 | 1980 |
| Vacant homes | 16.4% | 14.7% | 10.1% |
| Population | 3,250 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Melbourne Beach
At this week's average 30-year rate of 7.11%, buying the median Melbourne Beach home of $708,400 with 20% down costs about $4,456 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,636, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $190,964 for the 20%-down payment. That payment is 52% of the median Melbourne Beach household income of $102,857; at that income and 20% down, the 28% guideline points to a home of about $382,000.
The median rent here is $1,307 a month, so owning the median home costs about $3,149 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $141,680 |
|---|---|
| Loan amount | $566,720 |
| Principal and interest | $3,812 |
| Property taxes (0.59% a year) | $348 |
| Homeowners insurance (our estimate, 0.5% a year) | $295 |
| PMI | $0 |
| Total per month | $4,456 |
Change the numbers in the calculator
| Down payment | $24,794 |
|---|---|
| Loan amount | $695,569 |
| Principal and interest | $4,679 |
| Property taxes (0.59% a year) | $348 |
| Homeowners insurance (our estimate, 0.5% a year) | $295 |
| FHA mortgage insurance | $313 |
| Total per month | $5,636 |
Change the numbers in the calculator
Questions about home buying in Melbourne Beach
What is the median home value in Melbourne Beach?
About $708,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Melbourne Beach?
Homeowners pay a median $4,171 a year, which is about 0.59% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Melbourne Beach?
For the median home with 20% down at 7.11%, the payment is about $4,456 a month. Keeping that under 28% of gross income takes about $190,964 a year.
More about Melbourne Beach
- Mortgage Refinance in Melbourne Beach
- Debt Relief in Melbourne Beach
- Home Equity Loans in Melbourne Beach
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data