Memory Care Communities in Palm Bay, Florida

Compared to other nearby cities, Palm Bay is quite expensive. Costs in Orlando and Deltona are comparable to the statewide average of $5,000. Rates are even lower in nearby Sebastian at an average of $4,188 per month. The most affordable nearby option is the Lakeland area, where seniors typically pay $4,125 per month for memory care services.

Note: Residential memory care is usually offered in assisted living facilities, and in general, memory care rates tend to be 20-30% higher than assisted living rates. No national database currently tracks memory care costs in the United States, so we’ve estimated the monthly memory care costs listed below by adding 25% to the rates listed in Genworth’s 2021 Cost of Care Survey.

Seniors in the Palm Bay area can expect to pay an average of $5,576 for memory care. While higher than the statewide median of $5,000, rates still fall below the U.S. national average of $5,625.

While many families use their own funds or personal assets to pay for memory care, there are plenty of additional options to cover these costs. Some additional ways to finance memory care costs include:

• Veterans Benefits
• Life Insurance Policy
• Long-Term Care Insurance
• Reverse Mortgage

For more information about different ways to finance memory care, visit our Memory Care in Florida page.

There are several care options in Palm Bay to serve seniors at every stage of their aging journey. At rates of $1,408 per month, adult day health care is the least expensive option. The next most affordable choice is assisted living care at $4,461 per month. In-home care and home health care services are ideal for seniors who wish to age in place and are only slightly more expensive at $4,767 per month. For seniors with more complex needs, nursing homes offer 24-hour supervision and specialized care. These facilities cost $9,688 per month for a semiprivate room.

Memory care facilities in Palm Bay are licensed and regulated by Florida’s Agency for Health Care Administration, Bureau of Health Facility Regulation. Prior to licensure, facilities must pass an inspection to ensure they are compliant with state laws and regulations for operation. Follow-up inspections are then conducted every two years for re-licensure.

• With its low overall cost of living, Palm Bay is an affordable retirement option for budget-conscious seniors. Based on the U.S. national average of 100, the city’s cost index is 89.9. This means that Palm Bay is also less expensive than the average city of Florida, where the cost of living is rated 102.8.
• Florida is also one of the most tax-friendly states for retirees in all of the country. Seniors are not taxed on Social Security benefits or any forms of retirement income, including pensions, IRAs and 401(k)s. There’s also no state income or inheritance tax in Florida, which could help seniors maximize their finances.
• Crime rates in Palm Bay are a bit above average. On a scale from 1 to 100, with 100 representing high crime, the city receives a 32.5 for violent crime, which is almost 10 points higher than the U.S. national average of 22.7. It’s a good idea for seniors and their families to inquire about the security features a facility has in place when searching for long-term care.
• Seniors in Palm Bay are fortunate to have access to state-of-the-art health care and specialized aging services through Health First’s network of hospitals and clinics across Brevard County.
• Snowbirds flock to this coastal region for its sunny, year-round climate. While seniors are fortunate to avoid winter snow, the area is prone to tropical storms and heavy rainfall during hurricane season. Summer temperatures in Palm Bay can also get very hot, so it’s wise for seniors to be mindful of the amount of time they spend outdoors.
• Seniors can get around the city using Space Coast Area Transit. The system operates bus and trolley routes throughout Brevard County. In addition to its fixed-route services, SCAT also offers curb-to-curb paratransit services. Adults aged 60 and older are eligible to receive a reduced fare ID card.
• Palm Bay is a great city for active retirees. Located right along the coast, seniors enjoy access to beaches, fishing and a variety of water sports. The city is also home to numerous parks, hiking trails and golf courses.