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Area data

Melbourne, FL — ZIP 32940

Population: 51,727 (Census ACS)

The median home value in ZIP 32940 (Melbourne, FL) is $492,859 — down 1.7% over the past year. Homes sell for a median $339,000 after a median 85.5 days on market. Typical rent runs $2,182/month. 10 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively High, with hurricane, lightning, inlandflooding the top-rated hazards. Cost of living is 1.0% above the US average (BEA, metro/state-level).

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$492,859

Median home value

-1.7%

1-year change

85.5

Median days on market

Relatively High

Hazard risk (county)

Home values & appreciation

Median home value
$492,859
1-year appreciation
-1.7%
3-year appreciation
-4.9%
5-year appreciation
+21.8%
10-year appreciation
+76.2%
All-time peak (2024-04)
$527,407
House Price Index (state)
542.2 (-2.6% YoY)

Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)

Market activity

Median sale price
$339,000
Median list price
$330,000
Median price per sqft
$213
1-year sale-price change
-7.8%
Median days on market
85.5 days
Homes sold (recent period)
48
For-sale inventory
376
Sale-to-list ratio
96.3%
Active listings
54
1-year forecast
+0.2%
Days to pending
64 days
New listings (monthly)
107

Source: recent area sales and market data (ZIP-level)

Rents

Typical rent
$2,182/mo
1-year rent change
+0.4%
Studio fair-market rent
$1,710/mo
1BR fair-market rent
$2,000/mo
2BR fair-market rent
$2,310/mo
3BR fair-market rent
$3,150/mo
4BR fair-market rent
$3,570/mo

Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)

Affordability

Cost of living index (Above Average)
101.0 (100 = US avg)
Electricity rate (state-level)
15.2¢/kWh
Natural gas rate (state-level)
$25.50/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)

Schools

Total schools
10
Elementary schools
6
Middle schools
0
High schools
1
Charter schools
2
Schools include
SUNTREE ELEMENTARY SCHOOL, PRE-K ESE SERVICES, DEVEREUX HOSPITAL, QUEST ELEMENTARY SCHOOL, MANATEE ELEMENTARY SCHOOL

Source: NCES school directory, 2022-23 (school-address-based)

Natural hazards & flood risk

Overall hazard risk (county)
Relatively High
Top hazards (county)
hurricane, lightning, inlandFlooding, strongWind, tornado
Notable hazard ratings (county)
coastalFlooding: Relatively Moderate · coldWave: Relatively Low · drought: Relatively Low · hail: Relatively Low · heatWave: Relatively Moderate · hurricane: Very High
FEMA flood zone
X
Flood risk level
Minimal
Wildfire risk to homes (county)
Higher than 98% of US counties
Buildings in wildfire direct-exposure zone
24.1%
Radon potential (county)
Low radon potential — EPA Zone 3 of 3
EPA Superfund (NPL) sites within 5 mi
None
Nearest Superfund site
Harris Corp. (Palm Bay Plant) (16 mi)
EPA recommends radon testing for every home regardless of zone.

Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL

Climate (30-year normals)

Annual precipitation
52.4 in
USDA plant hardiness zone
10a (extreme annual low 30 to 35°F)

Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)

Air quality

Air quality rating
Good
Median AQI (annual)
43
Days with Good air quality
279
Days with Moderate air quality
85
Highest AQI recorded (year)
130

Source: EPA air quality data (nearest monitoring station, annual)

Walkability & transit

Walkability index
2.0 / 20
Transit service frequency
-99,999
Jobs reachable by car (30 min)
36,037
Jobs reachable by transit (45 min)
24,108

Source: EPA Smart Location Database (metropolitan block groups)

Amenities

National parks within ~60 mi
1
Nearest national park
Canaveral National Seashore (41 mi)
Airports within 30 mi
18
Nearest airport
Patrick Space Force Base (COF) (11 mi)
Nearest major airport
Patrick Space Force Base (COF) (11 mi)
Hospitals nearby (~15 mi)
1
Hospitals include
VIERA HOSPITAL
Avg hospital rating (CMS)
5.0 / 5
Best hospital rating nearby (CMS)
5.0 / 5
EV charging stations (within 10 mi)
24
Solar radiation rating
Good (5.0 kWh/m²/day)

Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)

Migration

Net migration (county)
+6,872 tax filers

Source: IRS county-to-county migration data (county-level, ~12-month lag)

Housing stock

Median year housing built
2,003
Housing built before 1970
1.6%
Housing built 2000 or later
58.1%
Median annual property tax
$3,395
Mean commute to work
20 min
Households with broadband internet
87.6%

Source: Census ACS 5-year estimates (ZIP-level)

Employment & development

Total county employment
210,348
Average weekly wage
$1,250
Top industries (by employment)
Health Care, Accommodation & Food, Professional Services
Annual residential building permits (county)
3,754

Sources: BLS QCEW (county-level) · Census Building Permits (county-level)

How it compares

ZIP 32940State medianUS median
Median home value$492,859$346,549$289,727
Median sale price$339,000$359,990$325,000
Median days on market86 days72 days51 days
Typical rent$2,182/mo$2,095/mo$1,808/mo
Median annual property tax$3,395$2,388$2,006

State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.

Area data compiled from public government, academic, and industry research feeds. Data sources →

Common questions

What is the median home value in ZIP 32940?
$492,859.
What is the median sale price in ZIP 32940?
$339,000.
How long do homes take to sell in ZIP 32940?
Median days on market: 85.5 days.
What is typical rent in ZIP 32940?
Typical rent: $2,182/month.
What is the natural-hazard risk in ZIP 32940?
Overall risk: Relatively High (FEMA NRI, county-level). Top hazards: hurricane, lightning, inlandFlooding, strongWind, tornado.
Is ZIP 32940 in a flood zone?
Minimal (FEMA NFIP). FEMA flood zone X.
What is the wildfire risk in ZIP 32940?
Risk to homes is higher than 98% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
What is the radon potential in ZIP 32940?
Low radon potential — EPA Zone 3 of 3, county-level. EPA recommends testing every home regardless of zone.
Are there Superfund sites near ZIP 32940?
No current or proposed National Priorities List sites within 5 miles (EPA).
How many schools serve ZIP 32940?
10 schools (6 elementary, 1 high) (NCES, 2022-23).
Is ZIP 32940 walkable?
Walkability index: 2.0/20 (EPA Smart Location Database).
What is the air quality in ZIP 32940?
Good. Median AQI: 43. (EPA AQI).
What is the cost of living in ZIP 32940?
Regional Price Parity: 101.0 (100 = US average) (Above Average) (BEA RPP, metro/state-level).

Nearby ZIP codes

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents