Cheap Homes for Rent in Palm Bay, FL from $700 (54 Rentals)

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

property at 662 Lynbrook St NW

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

4 Bedroom, 2 Bath Home for Rent

Available Now

662 Lynbrook St NW

Palm BayFL32907
property at 1199 Jordan Ct NE

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

2 Bedroom, 1 Bath Home for Rent

Available Now

1199 Jordan Ct NE, Unit B, Unit B

1199 Jordan Ct NE
Palm BayFL32905

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Read Article
property at 1000 Pope St NW

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 2 Bath Home for Rent

Available Now

1000 Pope St NW

Palm BayFL32907
property at 1123 Tree Ridge Ln NE

$1,375

Total Monthly Price

Total Monthly Price

Base Rent
$1,375
Total Monthly Price
$1,375

2 Bedroom, 1 Bath Condo for Rent

Available Now

1123 Tree Ridge Ln NE

Palm BayFL32905

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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property at 1026 Bacon Cir NE

$1,395

Total Monthly Price

Total Monthly Price

Base Rent
$1,395
Total Monthly Price
$1,395

2 Bedroom, 1 Bath Home for Rent

Available Now

1026 Bacon Cir NE, Unit A, Unit A

1026 Bacon Cir NE
Palm BayFL32905

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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property at 4714 Overlook Dr

$1,475

Total Monthly Price

Total Monthly Price

Base Rent
$1,475
Total Monthly Price
$1,475

1 Bedroom, 1 Bath Condo for Rent

Available Now

4714 Overlook Dr

Palm BayFL32905

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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property at 1411 Sheafe Ave NE

$1,550

Total Monthly Price

Total Monthly Price

Base Rent
$1,550
Total Monthly Price
$1,550

2 Bedroom, 1 Bath Townhome for Rent

Available Now

1411 Sheafe Ave NE

Palm BayFL32905

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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Showing Results 1-50, Page 1 of 2

Palm Bay, FL Local Guide

Cheapest Neighborhoods for Apartments in Palm Bay, FL

Pricing Updated: 05/17/2026

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$1,934$1,04626
South Cove$15,372$920193

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 $920. Windover Palms in the Coastal Brevard neighborhood has the second lowest priced unit, which is a 1 Bed 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$920
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,150
Topaz VillageFlat1BR,1BA$1,199
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
StonewoodAbbott Reno1BR,1BA$1,225
Woodlake Village1 Bed 1 Bath1BR,1BA$1,240
Azara Palm BayB12BR,2BA$1,269
The BraxtonA21BR,1BA$1,295
Magnolia at Palm BayAtlas1BR,1BA$1,295
The Monroe on MontereyA3R1BR,1BA$1,299

Best Value Apartments for Rent in Palm Bay, FL

As of May 17, 2026 the best value apartment in the Palm Bay area is the $1.27 price per square foot Cali Model at Cypress Bay in the in the Coastal Brevard neighborhood starting from $2,322. The second greatest value Palm Bay apartment is the St. Augustine Model at Ascent of Palm Bay starting at $1,593 with a $1.23 price per square foot in the South Cove 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.
Cypress BayCali4BR,2BA$1.27
Ascent of Palm BaySt. Augustine3BR,2BA$1.23
Lake in the Woods ApartmentsThe Essex2BR,2.5BA$1.19
TrilliumThree Bedroom Apartment3BR,2BA$1.38
Marin at HarvardB12BR,2BA$1.31
Mode at Melbourne1 Deluxe1BR,1BA$1.30
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.26
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Azara Palm BayB12BR,2BA$1.22
Mercury Cove Apartments2BR/1.0BA2BR,1BA$1.39

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Palm Bay, FL
Population: 114,194

Ranked #255

in US Census Population by City

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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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See the most popular apartments and homes in Palm Bay, FL

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Frequently Asked Questions about Palm Bay

What type of rentals are currently available in Palm Bay?

There are currently 152 Apartments for Rent in Palm Bay, FL with pricing that ranges from $920 to $4,838. There are also 441 Single Family Homes for rent, Condos, and Townhome rentals currently available in Palm Bay ranging from $700 to $5,500.

What is the current price range for Rental Homes in Palm Bay?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Palm Bay ranges from $700 to $5,500 with an average monthly rent of $1,953.

How much are larger Three and Four Bedroom Rentals in Palm Bay?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Palm Bay range from $1,453 to $4,838, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,399 to $4,400. Four Bedroom Single-Family rentals are also available starting from $950 and Four Bedroom Apartments start at $1,849.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.