Homes & Apartments for Rent in 32908

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What to Know About

Life in Palm Bay & Beyond

Palm Bay shares many of the great qualities that make Florida a desirable place to live.

Florida is a sunshine-filled state known for its beautiful beaches, warm weather, and world-famous theme parks like Walt Disney World, Universal Studios, and Sea World. From its iconic beaches to vibrant cities, you have a unique blend of outdoor adventure and urban excitement. Explore the state's past by visiting attractions like the Kennedy Space Center, the Museum of Florida History, or the Perez Art Museum Miami. In addition, Florida is home to renowned universities such as the University of Florida and Florida State University, University of Miami.

With hundreds of miles of sandy beaches, crystal-clear springs, and lush everglades, Florida is a paradise for visitors and residents alike. The state is also home to several professional sports teams, including the Miami Dolphins (NFL), Tampa Bay Buccaneers (NFL), Florida Panthers (NHL), Tampa Lighting (NHL), Miami Marlins (MLB), Orlando Magic (NBA), and Miami Heat (NBA). Experience all that Florida has to offer, from its stunning beaches and vibrant atmosphere to its rich traditions and thriving economy.

Discover the magic of living in Florida, where the sun shines bright, the economy thrives, and the quality of life is unparalleled, making it the perfect place to call home.

Rental Market Trends

Palm Bay, FL

As of April 2026, Palm Bay's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Palm Bay's average rent is 13.4% ($287) lower than the Florida average of $2,139 and 3.6% ($64) higher than the U.S. average of $1,788.

Average Rent
$1,852
Monthly ChangeMonth Over Month Change
Increased0.5% ($10)
Yearly ChangeYear Over Year Change
Decreased5.3% ($104)
Avg. Days on MarketAverage Days on Market
33
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,163 Decreased4.4% ($53) Decreased1% ($12)
2 Beds $1,565 Decreased0.6% ($10) Decreased6.1% ($102)
3 Beds $2,013 Increased0.5% ($11) Increased0.4% ($9)
Nearby Cities Average Rent Avg. Rent vs. Palm BayAverage Rent vs. Palm Bay Avg. Days on MarketAverage Days on Market
Melbourne $1,636 Decreased11.7% ($216) 27 days
Indialantic $2,835 Increased53.1% ($983) 30 days
Melbourne Beach $2,921 Increased57.7% ($1069) 28 days
Satellite Beach $2,400 Increased29.6% ($548) 30 days
Sebastian $2,134 Increased15.2% ($282) 50 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Palm Bay Rental Market FAQs

Explore rental prices, market trends, and availability in Palm Bay, FL.

The average rent in Palm Bay, FL is $1,852 per month.
Homes in Palm Bay typically rent for between $814 and $2,617 per month, with an average of $1,852 per month.
In Palm Bay, the average rent for a 1-bedroom home is $1,163 per month, for a 2-bedroom home, $1,565 per month, and a 3-bedroom home is $2,013 per month.
The average rent in Palm Bay is 3.6% ($64) higher than the national average of $1,788 per month.
The average rent in Palm Bay has increased by 0.5% ($10) in the last month and decreased by 5.3% ($104) over the past year.
The rental market in Palm Bay, FL, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Palm Bay, FL, the average rental stays on the market for approximately 33 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 81 rental properties available in Palm Bay, FL.
Based on the current averages, a household would need an annual income of $62,600 to comfortably afford a 2-bedroom home in Palm Bay.
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