Cost of Living: Palm Bay, FL vs Springfield, IL (2026)

Palm Bay

Florida
91
VS

Springfield

Illinois
61

Palm Bay is 49% more expensive than Springfield.

$1,487/mo ↑ 57%
Median Rent
$945/mo ↓ 36%
$67,521/yr ↑ 3%
Median Income
$65,537/yr ↓ 3%
$248,000 ↑ 60%
Home Value
$155,200 ↓ 37%
$1,203/mo ↑ 24%
Owner Costs
$974/mo ↓ 19%
125,273
Population
113,714

Tax Comparison

0%
Income Tax
4.95%
6.0%
State Sales Tax
6.25%
0.86%
Property Tax
2.07%

Affordability

26.4%
rent-to-income
Affordability
17.3%
rent-to-income

Detailed Comparison

When comparing Palm Bay, FL and Springfield, IL, the overall cost of living indices are 91 and 61 respectively (national median = 100). Rent is $542/month cheaper in Springfield, saving renters about $6,504/year.

Median household income is $1,984/year higher in Palm Bay. Home values also differ significantly — the median in Palm Bay is $248,000 compared to $155,200 in Springfield.

Florida has no state income tax, giving Palm Bay residents a significant tax advantage over Illinois's 4.95% rate.

Frequently Asked Questions

Palm Bay vs Springfield — common questions

Is Palm Bay or Springfield cheaper to live in?
Based on our cost index, Springfield is cheaper to live in with an index of 61 compared to 91 (US average = 100).
What is the rent difference between Palm Bay and Springfield?
Median rent in Palm Bay is $1,487/month and in Springfield it's $945/month — a difference of $542/month.
Which city has higher income, Palm Bay or Springfield?
Median household income is $67,521 in Palm Bay and $65,537 in Springfield. Median household income is $1,984/year higher in Palm Bay.
How do taxes compare between Florida and Illinois?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Palm Bay or Springfield?
It depends on your priorities. Palm Bay has a cost index of 91 with median rent of $1,487/mo, while Springfield has a cost index of 61 with rent of $945/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Palm Bay details → View Springfield details →

More Comparisons

Other cost of living comparisons for Palm Bay and Springfield

Palm Bay vs. Allentown Palm Bay vs. Meridian Palm Bay vs. Thousand Oaks Palm Bay vs. Vallejo Palm Bay vs. Simi Valley Palm Bay vs. Round Rock Springfield vs. Odessa Springfield vs. Beaumont Springfield vs. Elgin Springfield vs. Gresham Springfield vs. Provo Springfield vs. Las Cruces