Average Rent in Palm Bay, FL

Home » FL » Palm Bay

Current Versus Historical Palm Bay, FL Rents

Palm Bay rentals average $1,063 for a studio rental to $2,200 for a 4-bedroom rental. The median price of all currently available listings is $2,050, or roughly $1 per square feet.

For the apartment units and housing in November 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $118,300 (-99.11%) year-over-year from $119,363 to $1,063. 1-bedroom rentals prices have decreased by $63 (-4.90%) year-over-year from $1,275 to $1,213. 2-bedroom rentals prices have decreased by $100 (-6.25%) year-over-year from $1,600 to $1,500. 3-bedroom rentals prices have increased by $89 (4.77%) year-over-year from $1,866 to $1,955. 4-bedroom rentals prices have increased by $236 (11.78%) year-over-year from $2,004 to $2,240. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 4.49% this month. 1-bedroom rents have gone down by 3.32% this month. 2-bedroom rents have gone down by 1.10% this month. 3-bedroom rents have gone up by 2.94% this month. 4-bedroom rents have gone up by 0.26% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.88	$1,063	$119,363 (-99.11%)	$957 (11.01%)
1 BR	$1.51	$1,213	$1,275 (-4.90%)	$979 (23.83%)
2 BR	$1.54	$1,500	$1,600 (-6.25%)	$1,613 (-7.02%)
3 BR	$1.38	$1,955	$1,866 (4.77%)	$2,047 (-4.48%)
4+ BR	$1.20	$2,240	$2,004 (11.78%)	$2,277 (-1.61%)

Historical Rents in Palm Bay, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Palm Bay

There are a total of 1 cities nearby Palm Bay. The average rent in Palm Bay is currently $1,900 per month. Only one city nearby has an average rent lower than that. Our records show that Melbourne, FL, with an average rent of $1,900, is the most affordable city nearby. In contrast, the most expensive city near Palm Bay, FL is Melbourne, FL. Monthly rents here are on average $1,900 per month.

Let's compare Palm Bay, FL's rent against other top cities nearby by bedroom size. One bedrooms are about 12.73% more affordable. Two bedrooms in Palm Bay, FL are about 6.67% more affordable. Finally, rent for three bedrooms are about 3.75% more affordable. Want more information? Check out the top 1 cities near Palm Bay, FL in the following chart.

City	Studio	1 Bed	2 Bed	All
Melbourne, FL	N/A	$1,350	$1,600	$1,900

Top Neighborhoods Near Palm Bay

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Palm Bay

Some of these counties include Melbourne, FL, Palm Bay, FL, and Indialantic-Melbourne Beach, FL. The average rent for rentals in these counties is $2,053. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Melbourne, FL. It's average rent per month is $1,950. Vice versa, with an average rent of $2,800, Indialantic-Melbourne Beach, FL is the most expensive county by Palm Bay, FL.

In comparison, rent for one bedroom listings in Palm Bay, FL is 8.56% more affordable than other counties nearby. Finally, rent for two bedrooms in Palm Bay, FL is 7.50% more affordable than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Melbourne, FL	N/A	$1,300	$1,613	$1,950
Palm Bay, FL	$1,063	$1,198	$1,500	$2,053
Indialantic-Melbourne Beach, FL	N/A	$1,900	$2,600	$2,800

Top Zipcodes Near Palm Bay

There are a total of 2 zipcodes in or near Palm Bay, FL. The average rent for all of these zipcodes is $1,838. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 32935, Melbourne, FL at $1,725 per month. In comparison, the zipcode with the most expensive average rent of $1,950 per month is 32901, Melbourne, FL.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Palm Bay, FL is $1,325 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,586 per month. Which comes out to $2 per sqft. The following chart includes the top 2 zipcodes in Palm Bay, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
32935, Melbourne, FL	N/A	$1,300	$1,573	$1,725
32901, Melbourne, FL	N/A	$1,350	$1,600	$1,950

Frequently Asked Questions - Palm Bay Average Rents

What is the average rent price in Palm Bay, FL?

The average monthly rental price for Palm Bay, FL apartments for rent is approximately $2,050. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Palm Bay, FL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Palm Bay, FL.

How much is a studio apartment in Palm Bay, FL?

The average monthly rental price for studio apartments is $1,063 and an average price per square feet of $3.88. There are a total of 2 studio apartment listings currently available for rent in Palm Bay.

How much is a one bedroom apartment in Palm Bay, FL?

The average monthly rental price for one bedroom apartments is $1,198 and an average price per square feet of $1.51. There are a total of 6 one bedroom apartment listings currently available for rent in Palm Bay.

How much is a two bedroom apartment in Palm Bay, FL?

The average monthly rental price for two bedroom apartments is $1,500 and an average price per square feet of $1.54. There are a total of 41 two bedroom apartment listings currently available for rent in Palm Bay.

How have rent prices in Palm Bay, FL changed this year?

Rent prices for rentals in Palm Bay, FL can fluctuate yearly. Specifically, studio rental prices have changed by -0.99%, one bedroom rental prices have changed by -0.05%, two bedroom rental prices have changed by -0.06%, and three bedroom rental prices have changed by 0.05% year-over-year.

What is a reasonable rent price in Palm Bay, FL?

A reasonable rent price in Palm Bay, FL is around $1,640/month. You can search for these reasonably priced rental listings on RentHop.