Housing is expensive.
Rates are higher than they were in early 2020.
Home prices have climbed.
Rent hasn’t exactly felt like a bargain either.

So when a bold graphic pops up in your feed confirming that frustration, it’s easy to think: “See? It’s impossible right now.”

But here’s the good news: that’s not the whole story.

Affordability isn’t just about price. It’s about rates, wages, inventory, negotiating power, builder incentives, and what’s happening locally. And over the past year, several of those pieces have quietly started shifting in a better direction — including right here in Brevard County.

Before you make a big decision based on a viral chart, let’s look at what the data actually says — and what it could mean for you.

1. Mortgage Rates Have Eased (And That Changes More Than You Think)

Mortgage rates drive your monthly payment more than almost anything else.

As of mid-February, the average 30-year fixed rate is hovering around 6.05%. That’s obviously higher than the 3% rates we saw in 2021–2022. But it’s meaningfully lower than when rates were pushing 7% and beyond.

That difference matters.

Nationally, recent rate declines reopened refinance opportunities for nearly five million homeowners. For some families, that means lowering their monthly payment enough to feel real breathing room again.

Now let’s bring that home to Brevard County.

The difference between 6.8% and 6.0% on a $400,000 home can mean hundreds of dollars per month. That shift can feel like:

• Less pressure in your budget

• More room to save

• Or simply the confidence to move forward

If you already own, it might be time to quietly run the refinance numbers.

If you're thinking about buying in Melbourne, Viera, or Palm Bay, the rate environment today looks very different than it did a year ago.

And when you start to see how the payment changes, you might begin to feel more clarity about your options.

2. The Buy vs. Rent Gap Is Narrowing

For a while, buying felt so far out of reach that many renters stopped even considering it.

Nationally:

• Income needed to afford a typical home: ~$111,000

• Income needed to afford a typical rental: ~$76,000

• The gap: $35,000

That’s still significant. But it’s the smallest that gap has been in three years.

A couple of years ago, the difference was wider and worsening. Now:

• Rate pressure has eased

• Wage growth has continued

• Home price growth has slowed

It doesn’t mean buying is “easy.” It means the math isn’t as brutal as it once was.

Here in Brevard County, rental rates vary widely by neighborhood. A luxury apartment in Viera looks very different from a single-family rental in West Melbourne. And in some price ranges, the monthly gap between renting and owning isn’t as dramatic as you might assume.

The question isn’t: “Is housing expensive?”
The better question is: “Does buying make sense for my long-term goals?”

When we sit down and compare real numbers — not headlines — you start to see what’s truly possible.

3. Monthly Payments Actually Came Down in 2025

When people talk about affordability, what they really mean is:

“What would my monthly payment be?”

In 2025, homebuyer affordability improved by 7.5% nationally.
The median mortgage payment dropped to about $2,025 — roughly $102 less per month than the year before.

That’s over $1,200 per year back in your pocket.

Not life-changing overnight. But meaningful.

Here in Brevard County, your true monthly payment depends on:

• Purchase price

• Property taxes

• Insurance (which we all know matters in Florida)

• HOA fees (if applicable)

National averages give context. But your real number is what matters.

And when we break that down specifically for your situation, things often feel more manageable than they looked on Instagram.

4. Renters Are Getting Some Relief, Too

If you’re renting in Brevard County, you probably felt the pressure the last few years.

Renewals jumped. Units filled quickly. Negotiating wasn’t really a thing.

That pace has cooled.

Nationally:

• Rent is taking up a smaller share of income than it has since 2021.

• Rent growth is the slowest it’s been since 2020.

• Nearly 40% of listings are offering concessions.

More inventory = more leverage for renters.

Locally, this varies by area. Some neighborhoods near the beaches or close to major employers are still tight. But other areas are seeing longer days on market and more flexibility.

If your lease renewal is coming up, don’t automatically assume you have no options. You may have more negotiating power than you think.

5. Builders Are Negotiating (Yes, Even Here)

Many people assume new construction is automatically more expensive.

Right now? Not always.

Nationally, more new homes saw price cuts than existing homes last quarter. Builders — especially in the South — are offering:

• Price reductions

• Mortgage rate buydowns

• Closing cost incentives

And here in Brevard County, we’re seeing quiet incentives that aren’t always advertised on the big signs out front.

A builder offering a rate buydown can dramatically change your monthly payment — sometimes more than negotiating $10,000 off a resale home.

If you’ve only been looking at existing homes, it may be worth expanding the conversation.

6. Buyers Finally Have Breathing Room

For the first time in a few years, many buyers aren’t fighting ten offers on every property.

Nationally, there are significantly more sellers than buyers in many markets. That means:

• Homes sitting longer

• More price reductions

• More repair credits

• Less pressure to waive inspections

And while Brevard County still has competitive pockets, especially in desirable school zones and beachside areas, we’re no longer in that 2021 frenzy.

If you stepped back because the market felt chaotic, today feels different.

You have time.
You have options.
You can walk away from a deal that doesn’t feel right.

That alone changes the emotional side of buying.

7. No One Serious Is Predicting a Crash

You’ve probably seen the comments:

“Just wait.”
“It’s 2008 again.”
“It’s all coming down.”

But the economists who actually track housing data aren’t forecasting a crash.

Projections show:

• Slight price growth or minor stabilization

• Increased home sales activity

• Mortgage rates averaging between 6%–6.5%

That’s not a boom. It’s not a collapse. It’s a market adjusting.

For a crash like 2008, we’d need massive oversupply, weak lending standards, and widespread distressed sales. That’s simply not the environment we’re in — especially in a growth-driven state like Florida.

The Bigger Picture for Brevard County

Yes, housing is still expensive.
Yes, affordability is tighter than it was in 2019.

But the pressure has eased compared to the peak.

Rates have come down.
Payments have improved.
Rent growth has slowed.
Builders are negotiating.
Buyers have leverage again.

And when you zoom in to Brevard County specifically — where job growth, space industry expansion, and continued relocation demand remain strong — the story becomes even more nuanced.

The only numbers that truly matter are yours:

• Your income

• Your timeline

• Your long-term plans

• Your comfort level

When we look at those together, decisions become clearer.

If you’re wondering whether to buy, sell, refinance, or renew your lease here in Brevard County, let’s run the numbers specific to you. No pressure. Just clarity.

You might be surprised at what’s possible once you see the full picture.

If you’d like to talk it through, I’m here — always happy to help you make a move that feels smart, steady, and right for your future.

Sources: BAM 1, BAM 2, ICE Mortgage Monitor, BAM 3, BAM 4, Zillow, BAM 5, Redfin,