Apartments for Rent in Palm Bay, FL

Prices and availability in Palm Bay, FL were last updated on 13 Jul 2026.

The best apartments in Palm Bay, FL are: Westshore Palm Bay, Eastshore Palm Bay, Aqua Palm Bay, The Monroe on Monterey and Madalyn Landing.

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 $1,959.

The price range for a 2-bedroom apartment in Palm Bay, FL is between $1,257 and $2,558.

The price range for a 3-bedroom apartment in Palm Bay, FL is between $1,440 and $2,495.

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.

Studio apartments in Palm Bay are around 2% of rentals, while 1-bedroom floor plans represent 38% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 48% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.