Cheap Homes for Rent in Palm Bay, FL from $700 (49 Rentals)

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Search the lowest-cost Homes 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 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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Palm Bay, FL Local Guide

Cheapest Neighborhoods for Apartments in Palm Bay, FL

Pricing Updated: 06/15/2025

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
South Cove$2,218$549178
The Compound$2,940$815104

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
Stonewood Townhomes1x1R1BR,1BA$1,225
Topaz VillageFlat1BR,1BA$1,250
Palm Bay ClubB12BR,2BA$1,262
The Monroe on MontereyA11BR,1BA$1,285

Best Value Apartments for Rent in Palm Bay, FL

As of June 16, 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 $2,295 with a $1.57 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$1.57
Ascent of Palm BaySt. Augustine3BR,2BA$1.23
TrilliumThree Bedroom Apartment3BR,2BA$1.48
Marin at HarvardB12BR,2BA$1.53
Luminary at 95B12BR,2BA$1.60
The Haven at West MelbourneB12BR,1BA$1.60
Palm Bay ClubB12BR,2BA$1.22
Mercury Cove Apartments2BR/1.0BA2BR,1BA$1.50
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

Quick Rent Budget Calculator

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Frequently Asked Questions about Palm Bay

What type of rentals are currently available in Palm Bay?

There are currently 143 Apartments for Rent in Palm Bay, FL with pricing that ranges from $549 to $7,450. There are also 496 Single Family Homes for rent, Condos, and Townhome rentals currently available in Palm Bay ranging from $750 to $7,000.

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 $750 to $7,000 with an average monthly rent of $2,347.

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 $1,400 to $7,450, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,300 to $7,000. Four Bedroom Single-Family rentals are also available starting from $1,850 and Four Bedroom Apartments start at $880.

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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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.

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

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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.