The Braxton
1000 Palm Place Dr NE,
Palm Bay, FL 32905
$1,305 - $2,030
1-3 Beds
Rental Market Trends in Palm Bay, FL
What is the average rent in Palm Bay, FL?
$1,482/month
Average Rent
681 Sq Ft
Average Apartment Size
-0.8%
Decrease in the Last Year
Palm Bay, FL Rental Market Overview
The average rent in Palm Bay, FL is $1,482 per month. For comparison, the national average rent price in the US is currently $1,644/month, which means Palm Bay rent prices are 10% lower than the national average.
- Studio apartments in Palm Bay average $1,176 per month.
- One-bedroom apartments in Palm Bay average $1,482 per month.
- Two-bedroom apartments in Palm Bay average $1,654 per month.
- Three-bedroom apartments in Palm Bay average $1,967 or more per month.
Data Updated: June, 2026
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Palm Bay, FL?
In the past year, rent has decreased by 0.8%, which averages out to $12 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2026
Legend
2025
2026
Rent Ranges in Palm Bay, FL
Last Updated June 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
8%
$700 - $1,000/month
35%
$1,001 - $1,500/month
46%
$1,501 - $2,000/month
12%
Above $2,000/month
What salary do I need to live comfortably in Palm Bay, FL?
Because the average rent in Palm Bay is $1,482, you’ll want to make about $4,940 per month or $59,280 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Palm Bay, FL compare to other nearby cities and neighborhoods?
Use the tool below to compare Palm Bay, FL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Nearby City Rent Trends
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Greystar
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American Landmark
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93
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Venterra
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67
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19,395
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46
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RPM
-
663
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184,134
Units
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260
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1 Community in Palm Bay
RAM Partners
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299
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80,035
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171
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1 Community in Palm Bay
BH
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273
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.