Woodlake Village
1700 Woodlake Dr NE,
Palm Bay, FL 32905
1-3 Beds | $1,245 - $1,890
Rental Market Trends in Palm Bay, FL
What is the average rent in Palm Bay, FL?
$1,410/month
Average Rent
707 Sq Ft
Average Apartment Size
-0.8%
Decrease in the Last Year
As of April 2025, the average rent in Palm Bay, FL is $1,410 per month. For comparison, the national average rent price in the US is currently $1,576/month, which means Palm Bay rent prices are 11% lower than the national average. When you rent an apartment in Palm Bay, you can expect to pay about $1,029 per month for a studio, $1,410 for a one-bedroom apartment, and around $1,591 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,958 or more.
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 $11 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 April 2025
Legend
2024
2025
Rent Ranges in Palm Bay, FL
Last Updated April 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
4%
Below $700/month
20%
$700 - $1,000/month
32%
$1,001 - $1,500/month
40%
$1,501 - $2,000/month
4%
Above $2,000/month
What salary do I need to live comfortably in Palm Bay, FL?
Because the average rent in Palm Bay is $1,410, you’ll want to make about $4,700 per month or $56,400 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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Property Management Companies in Palm Bay, FL
Willow Bridge
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685
Communities
-
185,289
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313
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4 Communities in Palm Bay
FPI Management
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621
Communities
-
106,801
Units
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222
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4 Communities in Palm Bay
Greystar
-
3,221
Communities
-
894,661
Units
-
829
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2 Communities in Palm Bay
Hawthorne Residential Partners
-
262
Communities
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63,088
Units
-
121
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2 Communities in Palm Bay
American Landmark
-
97
Communities
-
30,528
Units
-
53
Cities
2 Communities in Palm Bay
Venterra
-
51
Communities
-
14,124
Units
-
42
Cities
2 Communities in Palm Bay
North Point Management Corporation
-
32
Communities
-
5,546
Units
-
24
Cities
2 Communities in Palm Bay
RPM
-
609
Communities
-
161,071
Units
-
235
Cities
1 Community in Palm Bay
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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 February 2025.
* Percentages may not total 100 due to rounding.