Lex Levinrad

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Watching where chains like Wawa, Starbucks, LA Fitness, Costco, Chick-fil-A, and Publix choose to build is a good way to spot population growth trends. These companies spend millions on demographic research before they commit to a location. Palm Bay is one of Florida’s faster-growing cities.

Watching where chains like Wawa, Starbucks, LA Fitness, Costco, Chick-fil-A, and Publix choose to build is a good way to spot population growth trends. These companies spend millions on demographic research before they commit to a location. Palm Bay is one of Florida’s faster-growing cities, and for this reason it’s worth paying attention to.

Palm Bay’s population has grown from about 120,000 in 2020 to over 150,000 today according to recent estimates. That’s a very strong growth rate for a city of its size.

There is still a lot of buildable land in Palm Bay (unlike many coastal Florida cities that are mostly built out). Palm Bay has a huge amount of undeveloped land. That allows for large master-planned communities and for builders to plan for thousands of new homes.

The Space Coast is only one hour from Orlando and is also home to one of the fastest growing industries in the U.S. (space and military defense). Palm Bay isn’t just benefiting from tourism and retirees like many other Florida markets. It has a genuine fast growing high-tech employment base (which is important for job growth and population growth).

L3Harris Technologies, Northrop Grumman⁠, Lockheed Martin, Boeing, Embraer⁠, NASA and contractors around Kennedy Space Center, Space Launch Delta 45 - The United States Space Force, Elon Musk' s SpaceX (which just went public yesterday), Jeff Bezos’s Blue Origin (Nasa Artemis Program, Amazon Project Kuiper).

In general, the broader launch ecosystem on the Space Coast where Elon Musk wants to launch 100,000 Satellites into Space for Star link alone will be booming and will become a massive employer. Yesterday’s IPO was the largest IPO ever in history and it’s going to be creating jobs at SpaceX. Those people are going to need to live somewhere.

Putting Data AI Centers into space (the goal of both Bezos and Musk) will be a massive growth technology area and where Space X will be deploying its capital from yesterday’s IPO. Orbital AI data centers, AI Satellites will be a massively growing new technology. Space offers continuous solar power (without nighttime), no competition for land, potentially easier heat rejection through large radiators, and a clear path to scaling AI beyond terrestrial power-grid limits. And this will all be done by launching these rockets and satellites from the Space Coast.

What makes Palm Bay interesting is that many engineers and defense employees who work in Melbourne, at the Kennedy Space Center, or at Cape Canaveral choose to live in Palm Bay because housing is cheaper and more affordable for them and their family.

There is more room for new development of homes. That’s one reason builders keep adding subdivisions. They know that the population will continue growing, the jobs will continue growing, and because of affordability, people will keep moving to Palm Bay.

Don’t wait to buy real estate, instead buy real estate and wait