Homes & Apartments for Rent in 32909

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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 June 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 19.8% ($416) lower than the Florida average of $2,100 and 6.3% ($113) lower than the U.S. average of $1,797.

Average Rent
$1,684
Monthly ChangeMonth Over Month Change
Decreased2.5% ($44)
Yearly ChangeYear Over Year Change
Decreased7.9% ($144)
Avg. Days on MarketAverage Days on Market
33
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,165 Increased3.5% ($39) Decreased16.1% ($224)
2 Beds $1,516 Increased0.2% ($3) Decreased4.3% ($68)
3 Beds $1,946 Decreased0.4% ($8) Decreased4.7% ($96)
Nearby Cities Average Rent Avg. Rent vs. Palm BayAverage Rent vs. Palm Bay Avg. Days on MarketAverage Days on Market
Melbourne $1,473 Decreased12.5% ($211) 27 days
Indialantic $2,866 Increased70.2% ($1182) 30 days
Melbourne Beach $2,921 Increased73.5% ($1237) 28 days
Satellite Beach $1,837 Increased9.1% ($153) 30 days
Sebastian $1,699 Increased0.9% ($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 $1,684 per month.
Homes in Palm Bay typically rent for between $816 and $2,530 per month, with an average of $1,684 per month.
In Palm Bay, the average rent for a 1-bedroom home is $1,165 per month, for a 2-bedroom home, $1,516 per month, and a 3-bedroom home is $1,946 per month.
The average rent in Palm Bay is 6.3% ($113) lower than the national average of $1,797 per month.
The average rent in Palm Bay has decreased by 2.5% ($44) in the last month and decreased by 7.9% ($144) 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 65 rental properties available in Palm Bay, FL.
Based on the current averages, a household would need an annual income of $60,640 to comfortably afford a 2-bedroom home in Palm Bay.
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