Cheap Apartments for Rent in Palm Bay, FL from $700 (39 Rentals)

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Search the lowest-cost Apartments available for rent right now in Palm Bay.

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Pines Apartments
1 to 2 Bedroom Apartments

The Pines Apartments

3016 Pinewood Dr NEPalm Bay, FL 32905
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Hickory Pointe
1 to 2 Bedroom Apartments

Hickory Pointe

2700 Carlson CirMelbourne, FL 32901
Senior Living
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

46 W New Haven AveMelbourne, FL 32901
  • Utilities Included
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Windover Palms
1 to 3 Bedroom Apartments

Windover Palms

310 Fitness CirMelbourne, FL 32901
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The Highline
1 to 2 Bedroom Apartments

The Highline

635 E New Haven AveMelbourne, FL 32901
Showing Results 1-39, Page 1 of 1

Palm Bay, FL Local Guide

Cheapest Neighborhoods for Apartments in Palm Bay, FL

Pricing Updated: 07/31/2025

Current apartment rentals in the Palm Bay, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Palm Bay Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
The Compound$1,939$98519
South Cove$2,115$940148

Cheapest Available Palm Bay Apartments for Rent

 

The cheapest available apartment rental in Palm Bay, FL is a Studio unit found at Indian River Flats in the South Cove neighborhood priced from $949. Palm Side Apartments in the The Compound neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,150. Here is today’s list of the most affordable Palm Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Indian River FlatsCoralStudio,1BA$949
Palm Side ApartmentsStudio (Upgraded)Studio,1BA$1,150
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Topaz VillageAlcove1BR,1BA$1,225
Stonewood Townhomes1x1R1BR,1BA$1,225
Ascent of Palm BayCape1BR,1BA$1,241
Palm Bay ClubB12BR,2BA$1,262
10X Harbour BayA11BR,1BA$1,295

Best Value Apartments for Rent in Palm Bay, FL

As of July 31, 2025 the best value apartment in the Palm Bay area is the $0.49 price per square foot 4x4 Student Apartment Model at Melbourne Commons in the in the South Cove neighborhood starting from $865. The second greatest value Palm Bay apartment is the Palm A Model at Amore Village Townhomes starting at $2,195 with a $1.50 price per square foot in the Coastal Brevard neighborhood. Here is today’s list of the best values for Palm Bay apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Melbourne Commons4x4 Student Apartment4BR,4BA$0.49
Amore Village TownhomesPalm A3BR,2.5BA$1.50
Malabar Cove ApartmentsThree Bedroom Two Bath (b)3BR,2BA$1.02
Marin at HarvardB12BR,2BA$1.28
TrilliumTwo Bedroom Apartment2BR,2BA$1.40
Palm Bay ClubB12BR,2BA$1.22
Mercury Cove Apartments2BR/1.0BA2BR,1BA$1.50
10X Harbour BayA11BR,1BA$1.48
Ascent of Palm BayCape1BR,1BA$1.42
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

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Best Local Schools in
Palm Bay, FL

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Palm Bay, FL Rentals by Map

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Getting Around Palm Bay, FL

Walk Score®

34 / 100

Car-Dependent

Most errands require a car

Bike Score®

48 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Palm Bay Apartments

What is a cheap apartment in Palm Bay?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Palm Bay is under $1,295.

What is the price of a cheap apartment in Palm Bay?

The cheapest apartment in Palm Bay is Indian River Flats which is listed at $1,179, while the average apartment in Palm Bay costs $2,027.

What types of apartments are the cheapest in Palm Bay?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 3 regular apartments in Palm Bay that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Palm Bay?

Cheap apartments in Palm Bay have an average cost of $781 which is $1,246 cheaper than the average rent for all rentals in Palm Bay.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.