Last updated
Average Rent in Palm Bay, FL & Rent Trends
Rent prices and market trends across 6 apartment communities in Palm Bay, FL. Updated daily.
Market Average
$2,002/mo
▲ +0.5% from last month
Lowest Available
$750/mo
cheapest unit on market
Communities
6
tracked daily
Units Listed
41
available now
Rent by Neighborhood in Palm Bay, FL
Compare average rent across Palm Bay, FL neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | From | Properties | Units |
|---|---|---|---|---|
| Shadow Lawn | $2,190 | $1,535 | 2 | 27 |
| Sylvan Estates | $1,881 | $1,647 | 1 | 8 |
| Palm Bay 32908 | $1,501 | $1,450 | 1 | 3 |
| Palm Bay 32905 | $1,327 | $1,234 | 1 | 2 |
| Palm Bay 32909 | $750 | $750 | 1 | 1 |
Is Rent Going Up or Down in Palm Bay, FL?
As of May 2026, the average rent in Palm Bay, FL is $2,002 per month across 6 apartment communities and 41 available units. Rents have increased $8 (0.5%) over the past month.
The most affordable option is Isla Apartments starting at $750/mo. By unit type, a studio averages $1,327/mo, a 1-bedroom averages $1,954/mo, a 2-bedroom averages $2,143/mo, a 3-bedroom averages $1,780/mo.
Prices range from $750 to $2,566 per month. The most common price point is the $2,000 range, where 12 units are currently listed.
Palm Bay, FL Rent Price History
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Palm Bay, FL
Rent Prices by Apartment in Palm Bay, FL
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Isla Apartments | $750/mo | $750/mo | 1 | 4.5 |
| Magnolia at Palm Bay | $1,234/mo | $1,327/mo | 2 | 4.4 |
| Madalyn Landing | $1,450/mo | $1,501/mo | 3 | 4 |
| Mode at Melbourne | $1,535/mo | $1,772/mo | 3 | 4.8 |
| The Carlton of West Melbourne | $1,647/mo | $1,881/mo | 8 | 4.1 |
| Parasol Melbourne | $2,071/mo | $2,243/mo | 24 | 4.5 |
Google Search Trends for Palm Bay, FL Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Palm Bay, FL
What is the average rent in Palm Bay, FL?
Is rent going up or down in Palm Bay, FL?
What is the cheapest apartment in Palm Bay, FL?
How much is a 1-bedroom apartment in Palm Bay, FL?
How many apartments are available in Palm Bay, FL?
What salary do I need to live comfortably in Palm Bay, FL?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$80,000/year
30 percent rule -- using our average rent of $2,002/mo.
Comfortable income
$96,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($750/mo), you need to earn at least $30,000/year.
Median household income in Palm Bay, FL is $67,521 , about 30% below the comfortable-living threshold.
Cost of living in Palm Bay, FL
Overall prices in Palm Bay, FL runs above the national average by about 1% (BEA Regional Price Parity index 101.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Palm Bay, FL's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,002 |
| Utilities | $512 |
| Groceries | $520 |
| Transportation | $1,220 |
| Healthcare | $595 |
| Other goods and services | $952 |
| Estimated total | $5,801/mo |
Population
125,273
Median household income
$67,521
Census median rent
$1,487/mo
Rent as % of income
33.1%
Median age
41.3
Mean commute
28 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Palm Bay, FL Apartments
Browse all 6 communities with daily-updated pricing and availability.