Average Rent in Palm Bay, FL
6 apartment buildings, 39 units. Real asking prices, refreshed daily.
Avg Rent
$2,037/mo
Cheapest
$750/mo
Properties
6
Units
39
Analysis
Rent Price Breakdown
Compare pricing across all 6 properties in Palm Bay, FL.
Average Rent by Property
Starting Price vs Average
Rent by Bedroom Count
Price per Square Foot
Palm Bay, FL Rent Prices
All 6 properties ranked by lowest available rent.
Isla Apartments
1205 Jaslo St SE, Palm Bay, FL 32909, USA
Madalyn Landing
500 Malabar Rd SW, Palm Bay, FL 32908, USA
Mode at Melbourne
145 Cinnamon Cove Dr, Melbourne, FL 32901, USA
The Carlton of West Melbourne
4152 Merrillville Dr, West Melbourne, FL 32904, USA
Parasol Melbourne
4881 Dairy Rd, Melbourne, FL 32904, USA
Magnolia at Palm Bay
1445 Sportsman Ln NE, Palm Bay, FL 32905, USA
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | Isla Apartments 1205 Jaslo St SE, Palm Bay, FL 32909, USA | $750 | $750 | $0.08 | 4.5 (116) | 1 |
| 2 | Madalyn Landing 500 Malabar Rd SW, Palm Bay, FL 32908, USA | $1,450 | $1,501 | $1.60 | 4 (156) | 3 |
| 3 | Mode at Melbourne 145 Cinnamon Cove Dr, Melbourne, FL 32901, USA | $1,535 | $1,772 | $1.11 | 4.8 (128) | 3 |
| 4 | The Carlton of West Melbourne 4152 Merrillville Dr, West Melbourne, FL 32904, USA | $1,647 | $1,881 | $1.43 | 4.1 (143) | 8 |
| 5 | Parasol Melbourne 4881 Dairy Rd, Melbourne, FL 32904, USA | $2,071 | $2,243 | $2.44 | 4.5 (52) | 24 |
| 6 | Magnolia at Palm Bay 1445 Sportsman Ln NE, Palm Bay, FL 32905, USA | -- | -- | -- | 4.4 (14) | 0 |
Explore Each Property
Isla Apartments
4.5 (116)1205 Jaslo St SE, Palm Bay, FL 32909, USA
Madalyn Landing
4 (156)500 Malabar Rd SW, Palm Bay, FL 32908, USA
Mode at Melbourne
4.8 (128)145 Cinnamon Cove Dr, Melbourne, FL 32901, USA
The Carlton of West Melbourne
4.1 (143)4152 Merrillville Dr, West Melbourne, FL 32904, USA
Parasol Melbourne
4.5 (52)4881 Dairy Rd, Melbourne, FL 32904, USA
Magnolia at Palm Bay
4.4 (14)1445 Sportsman Ln NE, Palm Bay, FL 32905, USA
Palm Bay, FL Average Rent Prices 2026
The average rent in Palm Bay, FL is $2,037 per month, based on 39 units across 6 apartment communities. Prices range from $750 at Isla Apartments to $2,071 at Parasol Melbourne.
Average Rent by Bedroom Type
| Type | Avg Rent | Starting From | Units |
|---|---|---|---|
| 1 Bed | $1,954/mo | $750/mo | 18 |
| 2 Bed | $2,143/mo | $1,450/mo | 19 |
| 3 Bed | $1,780/mo | $1,604/mo | 2 |
Every price comes directly from each property's leasing system, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Palm Bay, FL, and what they pay
Tracked one-bedroom rent in Palm Bay, FL averages $1,954/mo, with two-bedroom units averaging $2,143/mo. At the local median household income of $67,521, that works out to 36% of gross income, above the 30 percent affordability ceiling, a stretched-budget market.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Palm Bay, FL at $1,487/mo. The current tracked market average runs 37% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Palm Bay, FL while the tracked market average covers units currently listed in larger apartment communities.
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
$81,000/year
30 percent rule -- using our average rent of $2,037/mo.
Comfortable income
$98,000/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 31% 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) | $2,037 |
| Utilities | $512 |
| Groceries | $520 |
| Transportation | $1,220 |
| Healthcare | $595 |
| Other goods and services | $952 |
| Estimated total | $5,836/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.
Compare
Nearby cities in Florida
How Palm Bay, FL rent compares to other markets in the state.
| City | Avg Rent | vs Palm Bay, FL | Properties |
|---|---|---|---|
| Miami, FL | $3,097 | +52% | 30 |
| Tampa, FL | $2,835 | +39% | 26 |
| Orlando, FL | $2,087 | +2% | 22 |
| Jacksonville, FL | $1,687 | -17% | 21 |
| Pembroke Pines, FL | $2,674 | +31% | 18 |
| Port ST Lucie, FL | $2,221 | +9% | 17 |
Frequently asked questions
What is the average rent in Palm Bay, FL?
The average rent in Palm Bay, FL is $2,037 per month, based on 39 units across 6 apartment buildings tracked by Average Rent. Prices are updated every morning through our proprietary data sourcing.
What is the cheapest apartment rent in Palm Bay, FL?
The lowest available rent in Palm Bay, FL starts at $750 per month. Availability changes daily as leasing data is refreshed each morning.
How much is a 1-bedroom apartment in Palm Bay, FL?
1-bedroom apartments in Palm Bay, FL average $1,954/mo. The lowest listed 1-bedroom starts at $750/mo across 18 units tracked.
How much is a 2-bedroom apartment in Palm Bay, FL?
2-bedroom apartments in Palm Bay, FL average $2,143/mo. Units start from $1,450/mo across 19 units currently listed.
Rent Trends in Palm Bay, FL
Track how apartment prices are changing over time.
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