Rentometer, Inc. | Data as of 10/22/2025
Palm Bay, situated on Florida’s scenic Space Coast, offers a relaxed coastal lifestyle complemented by easy access to beautiful beaches, the Indian River Lagoon, and vibrant downtown attractions such as the historic Heritage Museum and the bustling Turkey Creek Sanctuary. Residents enjoy a mix of suburban neighborhoods like Melbourne Village and the newer developments along the Palm Bay Parkway, creating a diverse community that appeals to families, professionals, and retirees alike. The city’s proximity to major employment hubs, shopping centers, and outdoor recreation makes it a desirable place to call home.
The Palm Bay rental market reflects this blend of convenience and variety, featuring both apartments and single‑family homes. Studio apartments start in the $1000s, while one‑bedroom units typically fall in the $1400s, offering both affordability and modern amenities. Larger two‑ and three‑bedroom apartments trend in the $1500s to $1900s, catering to growing families or those seeking extra space. For renters preferring houses, one‑bedroom homes are also found in the $1000s, with two‑bedroom options climbing into the $1600s and three‑bedroom homes approaching the $2000 range. Spacious four‑plus bedroom houses are available in the $2200s, ideal for larger households.
This range of housing options, combined with Palm Bay’s lively cultural scene, excellent schools, and easy access to the Atlantic coast, makes the city a compelling choice for anyone looking to rent in Florida’s thriving Space Coast region. Whether you’re searching for a sleek apartment near the city center or a roomy family home in a quiet suburban enclave, Palm Bay’s rental market offers something for every lifestyle.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,391 | $1,360 | $1,046 - $1,867 | $1,301 - $1,530 |
| Apartment | 2 Bedroom | $1,544 | $1,550 | $1,000 - $1,790 | $1,425 - $1,749 |
| Apartment | 3 Bedroom | $1,901 | $1,965 | $1,438 - $2,202 | $1,454 - $2,200 |
| House | 1 Bedroom | $1,017 | $1,000 | $599 - $1,650 | $800 - $1,099 |
| House | 2 Bedroom | $1,662 | $1,650 | $900 - $2,000 | $1,595 - $1,800 |
| House | 3 Bedroom | $1,976 | $1,935 | $1,350 - $2,800 | $1,805 - $2,100 |
| House | 4+ Bedroom | $2,218 | $2,150 | $1,745 - $4,200 | $2,035 - $2,325 |
In the current period, the average rent in Palm Bay was
$1,220 for 1 Bedroom,
$1,603 for 2 Bedroom,
$1,974 for 3 Bedroom, and
$2,194 for 4+ Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.