Average Rent in 32905, Palm Bay, FL

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Current Versus Historical 32905, Palm Bay, FL Rents

32905 rentals average $1,169 for a studio rental to $2,400 for a 4-bedroom rental. The median price of all currently available listings is $1,976, or roughly $17 per square feet.

For the apartment units and housing in October 2026, median rents have risen substantially over the last year. Studio rentals prices have increased by $28 (2.49%) year-over-year from $1,141 to $1,169. 1-bedroom rentals prices have increased by $983 (82.52%) year-over-year from $1,192 to $2,175. 2-bedroom rentals prices have increased by $150 (9.68%) year-over-year from $1,550 to $1,700. 3-bedroom rentals prices have decreased by $183 (-9.48%) year-over-year from $1,933 to $1,750. 4-bedroom rentals prices have increased by $300 (14.30%) year-over-year from $2,100 to $2,400. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.10% this month. 1-bedroom rents have gone up by 19.78% this month. 2-bedroom rents have gone down by 10.20% this month. 3-bedroom rents have gone down by 11.39% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Oct 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$32.03	$1,169	$1,141 (2.49%)	$178,357 (-99.34%)
1 BR	$28.57	$2,175	$1,192 (82.52%)	$1,275 (70.59%)
2 BR	$16.84	$1,700	$1,550 (9.68%)	$1,550 (9.68%)
3 BR	$16.87	$1,750	$1,933 (-9.48%)	$1,957 (-10.56%)
4+ BR	$14.13	$2,400	$2,100 (14.30%)	$2,545 (-5.70%)

Historical Rents in 32905, Palm Bay, FL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near 32905

There are a total of 4 cities nearby 32905. The average rent in 32905 is currently $2,150 per month. Only one city nearby has an average rent lower than that. Our records show that Melbourne, FL, with an average rent of $1,900, is the most affordable city nearby. In contrast, the most expensive city near 32905, Palm Bay, FL is Merritt Island, FL. Monthly rents here are on average $2,325 per month.

Let's compare 32905, Palm Bay, FL's rent against other top cities nearby by bedroom size. Typically, rent for studios in 32905, Palm Bay, FL is 14.16% more affordable than other cities nearby. One bedrooms are about 35.06% more expensive. Two bedrooms in 32905, Palm Bay, FL are on par with the other cities nearby. Finally, rent for three bedrooms are about 20.00% more affordable. Want more information? Check out the top 4 cities near 32905, Palm Bay, FL in the following table.

City	Studio	1 Bed	2 Bed	All
Melbourne, FL	$2,100	$1,225	$1,713	$1,900
Palm Bay, FL	$1,169	$1,995	$1,700	$2,100
West Melbourne, FL	N/A	$1,375	$1,700	$2,200
Merritt Island, FL	$1,500	$1,450	$1,550	$2,325

Top Neighborhoods Near 32905

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near 32905

There are a total of 4 counties located by 32905, Palm Bay, FL. Some of these counties include Melbourne, FL, Palm Bay, FL, and West Brevard, FL. The average rent for rentals in these counties is $2,400. That's roughly around $18 per sqft. A total of one county has a lower average rent. The county that is the most affordable is Melbourne, FL. Its average rent per month is $1,900. Vice versa, with an average rent of $2,875, Indialantic-Melbourne Beach, FL is the most expensive county by 32905, Palm Bay, FL.

Typically, rent for studios in 32905, Palm Bay, FL is 20.47% more affordable than other counties nearby. In comparison, rent for one bedroom listings in 32905, Palm Bay, FL is 24.14% more expensive than other counties nearby. Finally, rent for two bedrooms in 32905, Palm Bay, FL is 22.43% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Melbourne, FL	$2,100	$1,275	$1,650	$1,900
Palm Bay, FL	$1,169	$1,995	$1,738	$2,100
West Brevard, FL	N/A	$1,500	$2,650	$2,700
Indialantic-Melbourne Beach, FL	$1,648	$1,800	$2,425	$2,875

Top Zipcodes Near 32905

There are a total of 6 zipcodes in or near 32905, Palm Bay, FL. The average rent for all of these zipcodes is $2,048. A total of 2 zipcodes have an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 32935, Melbourne, FL at $1,838 per month. In comparison, the zipcode with the most expensive average rent of $2,800 per month is 32937, Indian Harbour Beach, FL.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 32905, Palm Bay, FL is $1,456 per month. Or in other words, $24 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,675 per month. Which comes out to $19 per sqft. The following table includes the top 6 zipcodes in 32905, Palm Bay, FL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
32901, Melbourne, FL	$2,100	$1,250	$1,575	$1,900
32937, Indian Harbour Beach, FL	N/A	$1,850	$2,350	$2,800
32935, Melbourne, FL	$1,700	$1,213	$1,650	$1,838
32904, June Park, FL	N/A	$1,450	$1,700	$2,095
32940, Viera West, FL	N/A	$1,485	$1,900	$2,500
32955, Rockledge, FL	N/A	$1,463	$1,650	$2,000

Frequently Asked Questions - 32905 Average Rents

What is the average rent price in 32905, Palm Bay, FL?

The average monthly rental price for 32905, Palm Bay, FL apartments for rent is approximately $1,976. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 32905, Palm Bay, FL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 32905, Palm Bay, FL.

How much is a studio apartment in 32905, Palm Bay, FL?

The average monthly rental price for studio apartments is $1,169 and an average price per square feet of $32.03. There are a total of 1 studio apartment listings currently available for rent in 32905.

How much is a one bedroom apartment in 32905, Palm Bay, FL?

The average monthly rental price for one bedroom apartments is $2,175 and an average price per square feet of $28.57. There are a total of 32 one bedroom apartment listings currently available for rent in 32905.

How much is a two bedroom apartment in 32905, Palm Bay, FL?

The average monthly rental price for two bedroom apartments is $1,700 and an average price per square feet of $16.84. There are a total of 84 two bedroom apartment listings currently available for rent in 32905.

How have rent prices in 32905, Palm Bay, FL changed this year?

Rent prices for rentals in 32905, Palm Bay, FL can fluctuate yearly. Specifically, studio rental prices have changed by 0.02%, one bedroom rental prices have changed by 0.83%, two bedroom rental prices have changed by 0.10%, three bedroom rental prices have changed by -0.09% year-over-year.

What is a reasonable rent price in 32905, Palm Bay, FL?

A reasonable rent price in 32905, Palm Bay, FL is around $1,581/month. You can search for these reasonably priced rental listings on RentHop.