Last updated
Average Rent in Palm Bay, FL & Rent Trends
Rent prices and market trends across 5 apartment communities in Palm Bay, FL. Updated daily.
Market Average
$2,054/mo
▲ +0.8% from last month
Lowest Available
$1,499/mo
cheapest unit on market
Communities
5
tracked daily
Units Listed
16
available now
Price Cuts This Week in Palm Bay, FL
8 listed units across 2 buildings offering 3 bed units in Palm Bay, FL dropped their asking rent in the past 7 days, an average cut of $111/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Madalyn Landing | Unit 3, 3 Bed/2 Bath | $1,770 | $1,623 | $147 |
| Amore Village - Townhomes for Rent | Unit 4550-101, Palm A | $2,352 | $2,239 | $113 |
| Amore Village - Townhomes for Rent | Unit 4560-101, Palm A | $2,352 | $2,239 | $113 |
| Amore Village - Townhomes for Rent | Unit 4565-101, Palm A | $2,352 | $2,239 | $113 |
| Amore Village - Townhomes for Rent | Unit 4545-104, Palm B | $2,187 | $2,087 | $100 |
| Amore Village - Townhomes for Rent | Unit 4560-104, Palm B | $2,187 | $2,087 | $100 |
| Amore Village - Townhomes for Rent | Unit 4560-105, Palm B | $2,187 | $2,087 | $100 |
| Amore Village - Townhomes for Rent | Unit 4585-103, Palm B | $2,187 | $2,087 | $100 |
Rent by Neighborhood in Palm Bay, FL
Compare average rent across Palm Bay, FL neighborhoods. Click any area to see detailed trends. View these neighborhoods on the rent map
| Neighborhood | Avg Rent | 30d Change | From | Properties | Units |
|---|---|---|---|---|---|
| Sylvan Estates | $2,017 | ▲ $107 | $1,487 | 2 | 18 |
| Shadow Lawn | $1,560 | ▼ $127 | $1,312 | 2 | 9 |
| Palm Bay 32905 | $1,531 | $0 | $1,234 | 1 | 7 |
| Palm Bay 32908 | $1,491 | ▼ $13 | $1,314 | 1 | 3 |
| Palm Bay 32909 | $750 | $0 | $750 | 1 | 1 |
Is Rent Going Up or Down in Palm Bay, FL?
As of August 2026, the average rent in Palm Bay, FL is $2,054 per month across 5 apartment communities and 16 available units. Rents have increased $14 (0.8%) over the past month.
The most affordable option is Lake in the Woods starting at $1,499/mo. By unit type, a 3-bedroom averages $2,054/mo.
Prices range from $1,499 to $2,239 per month. The most common price point is the $2,000 range, where 10 units are currently listed.
Palm Bay, FL Rent Price History
View as table
| Month | Avg Rent | Change | Properties |
|---|---|---|---|
| July 2026 | $1,705 | - | 5 |
| August 2026 | $1,717 | +$12 | 5 |
The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.
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 |
|---|---|---|---|---|
| Lake in the Woods | $1,499/mo | $1,499/mo | 1 | 4.8 |
| Madalyn Landing | $1,623/mo | $1,623/mo | 1 | 4 |
| Magnolia at Palm Bay | $2,031/mo | $2,031/mo | 1 | 4.4 |
| The Luminary at 95 Apartments | $2,048/mo | $2,080/mo | 3 | 4.6 |
| Amore Village - Townhomes for Rent | $2,087/mo | $2,147/mo | 10 | 4.3 |
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 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
$82,000/year
Based on the 30 percent rule, using our tracked average rent of $2,054/mo.
Comfortable income
$99,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,499/mo), you need to earn at least $60,000/year.
Median household income in Palm Bay, FL is $67,521 , about 32% 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) | $2,054 |
| Utilities | $512 |
| Groceries | $520 |
| Transportation | $1,220 |
| Healthcare | $595 |
| Other goods and services | $952 |
| Estimated total | $5,853/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.
Google Search Trends for Palm Bay, FL Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Palm Bay, FL Apartments
Browse all 5 communities with daily-updated pricing and availability.