Cost of Living: Norfolk, VA vs Palm Bay, FL (2026)

Norfolk

Virginia
89
VS

Palm Bay

Florida
91

Norfolk and Palm Bay have a similar cost of living.

$1,246/mo ↓ 16%
Median Rent
$1,487/mo ↑ 19%
$64,017/yr ↓ 5%
Median Income
$67,521/yr ↑ 5%
$271,900 ↑ 10%
Home Value
$248,000 ↓ 9%
$1,366/mo ↑ 14%
Owner Costs
$1,203/mo ↓ 12%
235,037
Population
125,273

Tax Comparison

5.75%
Income Tax
0%
5.3%
State Sales Tax
6.0%
0.8%
Property Tax
0.86%

Affordability

23.4%
rent-to-income
Affordability
26.4%
rent-to-income

Detailed Comparison

When comparing Norfolk, VA and Palm Bay, FL, the overall cost of living indices are 89 and 91 respectively (national median = 100). Rent is $241/month cheaper in Norfolk, saving renters about $2,892/year.

Median household income is $3,504/year higher in Palm Bay. Home values also differ significantly — the median in Norfolk is $271,900 compared to $248,000 in Palm Bay.

Florida has no state income tax, giving Palm Bay residents a significant tax advantage over Virginia's 5.75% rate.

Frequently Asked Questions

Norfolk vs Palm Bay — common questions

Is Norfolk or Palm Bay cheaper to live in?
Based on our cost index, Norfolk is cheaper to live in with an index of 89 compared to 91 (US average = 100).
What is the rent difference between Norfolk and Palm Bay?
Median rent in Norfolk is $1,246/month and in Palm Bay it's $1,487/month — a difference of $241/month.
Which city has higher income, Norfolk or Palm Bay?
Median household income is $64,017 in Norfolk and $67,521 in Palm Bay. Median household income is $3,504/year higher in Palm Bay.
How do taxes compare between Virginia and Florida?
Virginia has 5.75% income tax, 5.3% sales tax, and 0.8% property tax. Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax.
Should I move to Norfolk or Palm Bay?
It depends on your priorities. Norfolk has a cost index of 89 with median rent of $1,246/mo, while Palm Bay has a cost index of 91 with rent of $1,487/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Norfolk details → View Palm Bay details →

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