Cost of Living: Palm Bay, FL vs Wilmington, NC (2026)

Palm Bay

Florida
91
VS

Wilmington

North Carolina
100

Palm Bay is 9% cheaper than Wilmington.

$1,487/mo ↑ 13%
Median Rent
$1,311/mo ↓ 12%
$67,521/yr ↑ 6%
Median Income
$63,900/yr ↓ 5%
$248,000 ↓ 29%
Home Value
$350,300 ↑ 41%
$1,203/mo ↓ 12%
Owner Costs
$1,371/mo ↑ 14%
125,273
Population
118,578

Tax Comparison

0%
Income Tax
4.5%
6.0%
State Sales Tax
4.75%
0.86%
Property Tax
0.8%

Affordability

26.4%
rent-to-income
Affordability
24.6%
rent-to-income

Detailed Comparison

When comparing Palm Bay, FL and Wilmington, NC, the overall cost of living indices are 91 and 100 respectively (national median = 100). Rent is $176/month cheaper in Wilmington, saving renters about $2,112/year.

Median household income is $3,621/year higher in Palm Bay. Home values also differ significantly — the median in Palm Bay is $248,000 compared to $350,300 in Wilmington.

Florida has no state income tax, giving Palm Bay residents a significant tax advantage over North Carolina's 4.5% rate.

Frequently Asked Questions

Palm Bay vs Wilmington — common questions

Is Palm Bay or Wilmington cheaper to live in?
Based on our cost index, Palm Bay is cheaper to live in with an index of 91 compared to 100 (US average = 100).
What is the rent difference between Palm Bay and Wilmington?
Median rent in Palm Bay is $1,487/month and in Wilmington it's $1,311/month — a difference of $176/month.
Which city has higher income, Palm Bay or Wilmington?
Median household income is $67,521 in Palm Bay and $63,900 in Wilmington. Median household income is $3,621/year higher in Palm Bay.
How do taxes compare between Florida and North Carolina?
Florida has 0% income tax, 6.0% sales tax, and 0.86% property tax. North Carolina has 4.5% income tax, 4.75% sales tax, and 0.8% property tax.
Should I move to Palm Bay or Wilmington?
It depends on your priorities. Palm Bay has a cost index of 91 with median rent of $1,487/mo, while Wilmington has a cost index of 100 with rent of $1,311/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Palm Bay details → View Wilmington details →

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