Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Palm Bay, FL Rental Market Trends
What is the average rent in Palm Bay?
The average rent for an apartment in Palm Bay is $1,408. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Palm Bay, FL
Last updated May 2022
| Average Rent | Average Apartment Size |
|---|---|
| $1,408 | 907 sq. ft. |
What is the average apartment size in Palm Bay?
The average size for a Palm Bay, FL apartment is 907 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Palm Bay, FL Apartment Rent Ranges
Palm Bay, FL Occupied Housing Units
12,237 or 31% of the households in Palm Bay, FL are renter-occupied while 26,872 or 68% are owner-occupied.
Palm Bay, FL Rent Trends
| Average Rent | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Jul / 2021 | Nov / 2021 | May / 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Palm Bay, FL | $1,001 | $1,064 | $1,023 | $1,088 | $1,091 | $1,132 | $1,147 | $1,214 | $1,331 | $1,408 |
| National | $1,367 | $1,399 | $1,407 | $1,409 | $1,399 | $1,403 | $1,412 | $1,495 | $1,591 | $1,628 |
Average Rent in Palm Bay, FL By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Grant-Valkaria | $1,458 |
| St Sebastian | $1,458 |
/
Palm Bay | Rent Comparison by Neighborhood
Rent in Grant-Valkaria is the same as in St Sebastian
$1,458
Grant-Valkaria rent is 4% higher than Palm Bay average
| Average Rent | $1,458 |
|---|
$1,458
St Sebastian rent is 4% higher than Palm Bay average
| Average Rent | $1,458 |
|---|
How Palm Bay Compares to Other Cities
| City | Average Rent |
|---|---|
| Jacksonville | $1,453 |
| Kissimmee | $1,700 |
| Orlando | $1,820 |
| Cape Coral | $1,944 |
| Tampa | $1,834 |
| Miami | $2,132 |
| Palm Bay | $1,408 |
| Poinciana | $1,493 |
| St. Petersburg | $1,861 |
| Gainesville | $1,508 |
| Lakeland | $1,395 |
| West Palm Beach | $2,141 |
| Davenport | $1,894 |
| Winter Haven | $1,323 |
| Pine Hills | $1,455 |
| Altamonte Springs | $1,637 |
| Oviedo | $2,120 |
| Maitland | $1,918 |
| Haines City | $966 |
| Saint Cloud | $1,789 |
| Casselberry | $1,532 |
Most Popular Apartments in Palm Bay
Ascent Of Palm Bay
3350 Wedgewood Rd NE, Palm Bay, FL 32905- 1 BED
- 2 BEDS
- 3 BEDS
- $1,419+
- $1,459+
- $1,876+
Madalyn Landing
500 Malabar Road Southwest, Palm Bay, FL 32907- 1 BED
- 2 BEDS
- 3 BEDS
- $1,350+
- $1,745+
- $2,055+
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Palm Bay apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.