What is the Fair Market Rent in Palm Bay, FL?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home runs from $1,670 to $2,150 a month across the 4 ZIP codes that cover Palm Bay.

By ZIP code: 32907 $2,060, 32908 $2,150, 32905 $1,670, 32909 $1,800.

Across the whole Palm Bay-Melbourne-Titusville, FL MSA the two-bedroom figure is $1,779.

The Census Bureau’s median gross rent for a two-bedroom home in Palm Bay is $1,495 (±$93), below the Small Area figure for ZIP 32907.

Figures last updated on .

2 bedrooms, whole area
$1,779
2 bedrooms, ZIP 32907
$2,060
2 bedrooms, ZIP 32908
$2,150
2 bedrooms, ZIP 32905
$1,670

Fair Market Rents for Palm Bay, fiscal year 2027

HUD Fair Market Rent, dollars a month (gross rent, including utilities), beside the Census Bureau’s median gross rent for each ZIP code
Studio1 bedroom2 bedrooms3 bedrooms4 bedroomsCensus median rent
Palm Bay-Melbourne-Titusville, FL MSA (whole area)$1,327$1,525$1,779$2,382$2,707—
ZIP 32907$1,540$1,770$2,060$2,760$3,140$1,897
ZIP 32908$1,600$1,840$2,150$2,880$3,270$1,759
ZIP 32905 (98% of the ZIP’s land is in this place)$1,250$1,430$1,670$2,240$2,540$1,474
ZIP 32909 (56% of the ZIP’s land is in this place)$1,340$1,540$1,800$2,410$2,740$1,535

A Fair Market Rent is HUD’s estimate of the gross rent (shelter plus utilities) of a modest rental home in the area.

Whether a housing authority uses the ZIP code (Small Area) figures or the area-wide one depends on whether HUD has designated the area for Small Area FMRs or the authority has opted in; ask the local housing authority which applies.

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Questions about Palm Bay

What is the Section 8 payment standard in Palm Bay?

Housing authorities set payment standards between 90% and 110% of HUD’s Fair Market Rent; for fiscal year 2027, the two-bedroom Fair Market Rent for the Palm Bay-Melbourne-Titusville, FL MSA is $1,779, and the Small Area figure for 32907 is $2,060.

What is the Fair Market Rent for a two-bedroom in ZIP 32907?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 32907 is $2,060 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,897 (±$160).

What is the Fair Market Rent for a two-bedroom in ZIP 32908?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 32908 is $2,150 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,759 (±$411).

What is the Fair Market Rent for a two-bedroom in ZIP 32905?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a two-bedroom home in ZIP 32905 is $1,670 a month; the Census Bureau’s median gross rent across that ZIP code, for homes of every size, is $1,474 (±$57).

What is the Fair Market Rent for a one-bedroom in Palm Bay?

HUD’s fiscal year 2027 Small Area Fair Market Rent for a one-bedroom home in ZIP 32907 is $1,770 a month, against $1,525 across the Palm Bay-Melbourne-Titusville, FL MSA.

Sources

Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.

Figures last updated on .

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