Palm Bay, FL at a glance
Median household income
$72,614$6,051 per month · U.S. Census Bureau ACS 5-YearHow much rent can you afford in Palm Bay, FL?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
How much is rent in Palm Bay, FL? By bedroom, 2026
HUD's fiscal 2026 Fair Market Rents for Palm Bay-Melbourne-Titusville, FL MSA, with the income each one takes if rent stays under 30% of it.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,266 | $15,192 | $50,640 | 20.9% |
| 1-Bedroom Apartment | $1,478 | $17,736 | $59,120 | 24.4% |
| 2-Bedroom ApartmentBenchmark | $1,709 | $20,508 | $68,360 | 28.2% |
| 3-Bedroom Home | $2,330 | $27,960 | $93,200 | 38.5% |
| 4-Bedroom Home | $2,645 | $31,740 | $105,800 | 43.7% |
What a typical income covers in Palm Bay, FL
The 50/30/20 rule applied to the local median of $72,614 a year ($6,051 a month before tax).
What $72,614 leaves after Florida taxes
Federal income tax, Social Security, Medicare and Florida tax on the local median income. Change the salary to see yours.
Rent, jobs and pay in Florida
Living in Palm Bay, FL: common questions
What is the median household income in Palm Bay, FL?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Palm Bay, FL is $72,614 per year (approximately $6,051 per month).
What is the average rent in Palm Bay, FL?
The closest official figure is HUD's Fair Market Rent for 2026: $1,266 for a studio, $1,478 for one bedroom, $1,709 for two, $2,330 for three and $2,645 for four, utilities included.
It is not an average of listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so a new lease on a nicer place will usually cost more.
Is Palm Bay, FL expensive to live in?
Prices there run about the same as the U.S. average. BEA's regional price parity for the metro area is 100.0, where the U.S. is 100. Rent moves the number most: housing is where places differ, while goods cost about the same everywhere.
How much do you need to earn to comfortably afford rent in Palm Bay, FL?
To keep a $1,709 two-bedroom under 30% of gross income, a household needs about $68,360 a year, or $5,697 a month. That is 94% of what the typical household in Palm Bay, FL earns.
How much do you need to live comfortably in Palm Bay, FL?
On the local median income of $72,614 ($6,051 a month before tax), the 50/30/20 rule leaves $3,026 a month for needs like rent, utilities and groceries, $1,815 for everything else and $1,210 for savings or debt. A two-bedroom at $1,709 takes 56% of the needs share.
How much is the electric bill in Palm Bay, FL?
Homes in Florida paid 15.1¢ per kWh on average (EIA). At 900 kWh a month, a typical use, that is about $136. Your bill depends mostly on heating and cooling.