Rentometer, Inc. | Data as of 01/18/2026
Palm Bay’s rental market blends affordable coastal living with a variety of housing options, making it a top choice for families, young professionals, and retirees alike. Apartments dominate the downtown corridor near the historic Palm Bay Mall and the scenic Brevard County coastline, offering studios and one‑bedroom units that average in the $1,000 range, while larger two‑ and three‑bedroom layouts approach the $1,500‑$2,000 bracket. For those seeking more space, single‑family homes are plentiful in neighborhoods such as Suntree and Eau Gallie, with one‑ and two‑bedroom houses typically priced near the low‑$1,000s and mid‑$1,600s respectively, and larger four‑plus bedroom homes trending toward the $2,200 level. These figures reflect a balanced market where both rental affordability and quality of life are strong draws.
Beyond price, Palm Bay offers a vibrant lifestyle anchored by the Indian River Lagoon, numerous parks, and easy access to the Space Coast’s aerospace attractions and Atlantic beaches. Residents enjoy convenient commutes via the U.S. 1 corridor and proximity to major employers in the tech and healthcare sectors. The city’s mix of modern apartment complexes, well‑maintained rental homes, and community amenities such as fitness centers, pet‑friendly spaces, and waterfront trails contribute to a welcoming environment for renters of all ages. Whether you’re looking for a cozy studio close to downtown dining or a spacious family home near top‑rated schools, Palm Bay’s rental inventory provides diverse options to suit a wide range of preferences and budgets.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,386 | $1,357 | $995 - $1,867 | $1,214 - $1,530 |
| Apartment | 2 Bedroom | $1,474 | $1,468 | $900 - $1,860 | $1,392 - $1,706 |
| Apartment | 3 Bedroom | $1,888 | $1,932 | $1,454 - $2,199 | $1,790 - $2,115 |
| House | 1 Bedroom | $1,030 | $800 | $795 - $1,495 | $795 - $1,495 |
| House | 2 Bedroom | $1,725 | $1,747 | $1,450 - $2,200 | $1,550 - $1,850 |
| House | 3 Bedroom | $1,953 | $1,915 | $800 - $2,850 | $1,799 - $2,100 |
| House | 4+ Bedroom | $2,208 | $2,145 | $1,675 - $4,200 | $1,995 - $2,350 |
In the current period, the average rent in Palm Bay was $1,268 for 1 Bedroom, $1,586 for 2 Bedroom, $1,951 for 3 Bedroom, and $2,183 for 4+ Bedroom.
Data provided by Rentometer, Inc.