How much is a home worth in ZIP code 32931?

The typical home in 32931 is worth $456,899, based on the Zillow Home Value Index.

Are home values rising in 32931?

Home values in 32931 are down 1.8% over the past year, and up 4.9% a year over five years.

What is the typical rent in 32931?

A typical home in 32931 rents for about $2,606 a month, a gross rental yield of 6.8%.

What is the property tax rate in 32931?

The effective property tax rate in 32931 is 0.7% — roughly $3,046 a year on a typical home.

ZIP code 32931 has a population of 14,174 and a median household income of $89,457.

HousingHandbookReference data

…

U.S. ZIP Code · FL32931

Brevard County · Palm Bay-Melbourne-Titusville, FL

Typical home value

$456,899^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.8%
5-year / yr: +4.9%
10-year / yr: +5.5%

Relative price

vs U.S.: +60.8%
vs metro: +30.1%
vs state: +31.7%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 32931 is worth $456,899 — 30.1% above the Palm Bay-Melbourne-Titusville, FL median. Over the past year, values have fallen 1.8%. Homes here rent for a typical $2,606 a month — a 6.8% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,606^[2]
Gross yield: 6.8%^[2]
Cap rate: 4.1%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.7%^[3]
Typical annual tax: $3,046^[3]

#Climate risk

FEMA National Risk Index ratings for Brevard County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Moderate
Wildfire: Relatively Moderate
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Very High
Tornado: Relatively High
Earthquake: Very Low
Winter weather: No Rating

#Who lives here

Population: 14,174^[3]
Median household income: $89,457^[3]

#Migration

Household moves in and out of Brevard County over a year, from IRS tax-return data.

Net migration: +5,016^[5]
Moved in: 20,374
Moved out: 15,358

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 4
Elementary: 2
Middle: 0
High: 2

COCOA BEACH JUNIOR/SENIOR HIGH SCHOOL
High · Grades 7–12 · BREVARD
1,029 students
FREEDOM 7 ELEMENTARY SCHOOL OF INTERNATIONAL STUDIES
Elementary · Grades K–6 · BREVARD
408 students
THEODORE ROOSEVELT ELEMENTARY SCHOOL
Elementary · Grades PK–6 · BREVARD
268 students
PROJECT SEARCH
High · Grades 12 · BREVARD
48 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield6.8%

Net yield (after ~40% expenses)4.1%

Annual rent$31,269

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,310

Loan principal$365,519

Down payment$91,380

Total interest paid$466,199

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.13

Monthly cost to own$2,946

Monthly rent$2,606

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 36th percentile^[1]
Rental yield: 43rd percentile^[2]
Property tax: 44th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 32931?: The typical home in 32931 is worth $456,899, based on the Zillow Home Value Index.
Are home values rising in 32931?: Home values in 32931 are down 1.8% over the past year, and up 4.9% a year over five years.
What is the typical rent in 32931?: A typical home in 32931 rents for about $2,606 a month, a gross rental yield of 6.8%.
What is the property tax rate in 32931?: The effective property tax rate in 32931 is 0.7% — roughly $3,046 a year on a typical home.
Who lives in 32931?: ZIP code 32931 has a population of 14,174 and a median household income of $89,457.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

32952 vs 32931 →
Merritt Island CDP, FL
Typical home
$435,893
Gross yield
5.2%
32940 vs 32931 →
Viera West CDP, FL
Typical home
$484,705
Gross yield
5.4%
32953
North Merritt Island CDP, FL
Typical home
$427,456
Gross yield
5.4%
32934
Melbourne, FL
Typical home
$493,435
Gross yield
4.4%
32937
Satellite Beach, FL
Typical home
$501,128
Gross yield
6.4%
32949
Grant-Valkaria, FL
Typical home
$517,942
Gross yield
—

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#Jump to section

U.S. ZIP Code · FL32931

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