Apartments for Rent in Palm Bay, FL

Prices and availability in Palm Bay, FL were last updated on 23 Aug 2026.

The best apartments in Palm Bay, FL are: THE PARK AT PALM BAY, Madalyn Landing, 10X Harbour Bay, Palm Breeze Apartments and Malabar Cove Apartments.

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

The price range for a 1-bedroom apartment in Palm Bay, FL is between $1,312 and $2,005.

The price range for a 2-bedroom apartment in Palm Bay, FL is between $1,390 and $2,674.

The price range for a 3-bedroom apartment in Palm Bay, FL is between $1,649 and $2,862.

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 age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Palm Bay are about 27 years old, on average. Of these, 39% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

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.