A small city located in Florida, Melbourne has approximately 80,000 residents. Retirees account for a greater percentage of the population (23%) here than nationally (14%). The majority of residents own their homes in Melbourne, and 41% of residents rent. With a relatively low average rent of $956/month in the city, renting remains an affordable option, particularly compared to other cities in Florida. Over the course of a year, renters in Melbourne will save around $2,400 compared to the state average.
With an average commute time of about 23 minutes, shorter than most cities in Florida, Melbourne residents know that traveling to work isn't overly time-consuming. Many residents (39%) commute to work by car, while public transit isn't extensively used. Walking isn't a common way to get to work.
Many Melbourne residents work in one of three industries: retail, healthcare, and entertainment. Combined, these industries account for 18% of the city's labor force. Meanwhile, looking at job function, many workers in these industries are in sales, making it the top career path in the city. With an average annual income of around $56,000, Melbourne workers earn about $10,000 less than their peers elsewhere in Florida. Melbourne's average income also trails the national average of $73,345. Melbourne has a high number of residents older than 25 who possess an Associate's degree (9%) compared to the national average (5%). Furthermore, 12% have a Bachelor's degree and 7% have earned a Master's or Doctoral degree.