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25 1 Bedroom Apartments for rent in Palm Bay, FL

Last updated June 18 at 8:07pm UTC
Palm Side
210 Interchange Dr NE
Palm Bay, FL
Updated June 15 at 8:59pm UTC
1 Bedroom
$834
Windwood Apartments
1530 Windwood Dr NE
Palm Bay, FL
Updated June 14 at 4:37pm UTC
1 Bedroom
$775
987 Sonesta Avenue
Port Malabar Country Club
Palm Bay, FL
Updated May 16 at 11:38pm UTC
1 Bedroom
$900
2975 NE Indian River Drive
Palm Bay Estates Mobile Home Park
Palm Bay, FL
Updated April 18 at 12:13am UTC
1 Bedroom
$900
Results within 1 miles of Palm Bay, FL
Princeton Parc
4714 Crosswind Ct
Melbourne, FL
Updated June 18 at 7:18pm UTC
1 Bedroom
$1,150
Results within 5 miles of Palm Bay, FL
Results within 10 miles of Palm Bay, FL
1078 Mollie Lane
Melbourne
Melbourne, FL
Updated May 31 at 11:56pm UTC
1 Bedroom
$800
1800 Charlesmont Drive
Melbourne
Melbourne, FL
Updated May 23 at 4:50am UTC
1 Bedroom
$1,200
172 Atlantic Avenue
Canova Beach Vacation Homesites
Indialantic, FL
Updated June 15 at 9:54pm UTC
1 Bedroom
$900
307 Avenue A
Melbourne Beach
Melbourne Beach, FL
Updated June 14 at 10:39pm UTC
1 Bedroom
$975
1011 S Miramar Ave 3
Indialantic by The Sea
Indialantic, FL
Updated June 1 at 11:06am UTC
1 Bedroom
$1,700
269 SAN PAULO CT UNIT 17-269
Melbourne
Melbourne, FL
Updated May 31 at 11:06am UTC
1 Bedroom
$1,300
405 N Miramar Avenue
Indialantic by The Sea
Indialantic, FL
Updated May 12 at 7:31am UTC
1 Bedroom
$1,400
1951 Island Club Drive
Melbourne
Melbourne, FL
Updated June 14 at 10:34pm UTC
1 Bedroom
$1,200

June 2018 Palm Bay Rent Report

Welcome to the June 2018 Palm Bay Rent Report. Palm Bay rents increased over the past month. In this report, we'll evaluate trends in the Palm Bay rental market, including comparisons to cities throughout the state and nation.

View full Palm Bay Rent Report
Rent Report
Palm Bay

June 2018 Palm Bay Rent Report

Welcome to the June 2018 Palm Bay Rent Report. Palm Bay rents increased over the past month. In this report, we'll evaluate trends in the Palm Bay rental market, including comparisons to cities throughout the state and nation.

Palm Bay rents increased significantly over the past month

Palm Bay rents have increased 0.5% over the past month, and are up marginally by 0.5% in comparison to the same time last year. Currently, median rents in Palm Bay stand at $820 for a one-bedroom apartment and $1,040 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in March. Palm Bay's year-over-year rent growth lags the state average of 2.5%, as well as the national average of 1.5%.

Rents rising across cities in Florida

Throughout the past year, rent increases have been occurring not just in the city of Palm Bay, but across the entire state. Of the largest 10 cities that we have data for in Florida, all of them have seen prices rise. The state as a whole logged rent growth of 2.5% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Pembroke Pines is the most expensive of all Florida's major cities, with a median two-bedroom rent of $2,400; of the 10 largest Florida cities that we have data for, all have seen rents rise year-over-year, with Orlando experiencing the fastest growth (+6.7%).
  • Port St. Lucie, Tampa, and Hialeah have all experienced year-over-year growth above the state average (6.2%, 4.6%, and 4.4%, respectively).

Palm Bay rents more affordable than many large cities nationwide

As rents have increased in Palm Bay, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Palm Bay is still more affordable than most large cities across the country.

  • Palm Bay's median two-bedroom rent of $1,040 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 0.5% rise in Palm Bay.
  • While Palm Bay's rents rose over the past year, some cities nationwide saw decreases, including Seattle (-0.8%) and DC (-0.1%).
  • Renters will find more reasonable prices in Palm Bay than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is nearly three times the price in Palm Bay.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.