Renter Resources
What Renters Must Photograph Before Moving In
Your landlord just gave you the keys. You're excited to move in, but one thing that could cost you hundreds later is not documenting what's already broken.
•8 min read
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 June 2025, 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 13.9% ($295) lower than the Florida average of $2,123 and 2.5% ($44) higher than the U.S. average of $1,784.
Average Rent
$1,828
Monthly ChangeMonth Over Month Change
2.8% ($52)
Yearly ChangeYear Over Year Change
15.8% ($250)
Avg. Days on MarketAverage Days on Market
33
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,389 | 15.3% ($184) | 11.6% ($144) |
| 2 Beds | $1,584 | 2% ($32) | 5.5% ($82) |
| 3 Beds | $2,042 | 0.5% ($11) | 4% ($79) |
| Nearby Cities | Average Rent | Avg. Rent vs. Palm BayAverage Rent vs. Palm Bay | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Melbourne | $1,613 | 11.8% ($215) | 27 days |
| Indialantic | $2,968 | 62.4% ($1140) | 30 days |
| Satellite Beach | $1,684 | 7.9% ($144) | 30 days |
| Sebastian | $1,843 | 0.8% ($15) | 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 $1,828 per month.
Homes in Palm Bay typically rent for between $972 and $2,655 per month, with an average of $1,828 per month.
In Palm Bay, the average rent for a 1-bedroom home is $1,389 per month, for a 2-bedroom home, $1,584 per month, and a 3-bedroom home is $2,042 per month.
The average rent in Palm Bay is 2.5% ($44) higher than the national average of $1,784 per month.
The average rent in Palm Bay has decreased by 2.8% ($52) in the last month and increased by 15.8% ($250) 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 122 rental properties available in Palm Bay, FL.
Based on the current averages, a household would need an annual income of $63,360 to comfortably afford a 2-bedroom home in Palm Bay.
