Apartments for Rent in Palm Bay, FL

Prices and availability in Palm Bay, FL were last updated on 15 May 2026.

The best apartments in Palm Bay, FL are: Malabar Cove Apartments, Aqua Palm Bay, 1021 Locust Avenue Palm Bay, FL 32907, 356 Garbelmann St SW Palm Bay, FL 32908 and 1674 Waltz St Southeast Palm Bay, FL 32909.

The average rent in Palm Bay, FL is $1,545.

The price range for a 1-bedroom apartment in Palm Bay, FL is between $1,049 and $2,216.

The price range for a 2-bedroom apartment in Palm Bay, FL is between $1,258 and $2,687.

The price range for a 3-bedroom apartment in Palm Bay, FL is between $1,457 and $4,000.

In Palm Bay, 20% of the residents are renting compared to 80% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 7% of Palm Bay's rentals, 40% are small-scale complexes with under 50 units, and 50% are single-family rentals.

The average age of rental buildings in Palm Bay is 27 years old, with 39% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 3 stories, of which all are garden-style apartment communities, none are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

Rental apartments in Palm Bay come in a range of sizes and floorplans. Studio apartments represent 2% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 38% of the total apartments in the city, while 2-bedroom floorplans represent around 48% of all rentals in Palm Bay. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.