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FL/Brevard County/Palm Bay

Palm Bay, FL

CitySAFMR
Brevard County
Found 7 ZIPs
Zillow

City Median Investment Score

96Above average

095130300
BRFMR
Eff. Rent
0 BR$1,250 – $1,600$1,260 – $1,680
1 BR$1,430 – $1,840$1,390 – $1,760
2 BR$1,670 – $2,150$1,710 – $1,960
3 BR$2,240 – $2,880$1,890 – $2,360
4 BR$2,540 – $3,270$2,300 – $2,910
5 BR$3,116Not available
6 BR$3,584Not available
7 BR$4,122Not available
8 BR$4,740Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
3
0.75-1.03
1 BR
2
2
0.87-1.11
2 BR
2
2
2
0.84-1.19
3 BR
2
2
1.01-1.47
4 BR
2
0.90-1.35
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Palm Bay, FL fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 7 ZIP codes in Palm Bay, FL ranges from $1,670 to $2,150 a month, with a median of $1,780. That is up 4.1% from $1,710 in FY 2026. Palm Bay is in the Palm Bay-Melbourne-Titusville, FL MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Florida is $1,474, so Palm Bay is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Palm Bay, FL
BedroomsFY 2027Change90–110% range
Studio$1,330+4.7%$1,197–$1,463
1BR$1,530+3.4%$1,377–$1,683
2BR$1,780+4.1%$1,602–$1,958
3BR$2,380+2.1%$2,142–$2,618
4BR$2,710+2.3%$2,439–$2,981

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Palm Bay, FL
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,330$1,530$1,780$2,380$2,710
FY 2026$1,270$1,480$1,710$2,330$2,650
FY 2025$1,210$1,410$1,640$2,230$2,550
FY 2024$1,030$1,210$1,430$1,930$2,260
FY 2023$970$1,150$1,380$1,840$2,190

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
32908$2,150+20.8%
32907$2,060+15.7%
32909$1,800+1.1%
32906$1,7800.0%
32910$1,7800.0%
32911$1,7800.0%
32905$1,670−6.2%

Questions about Palm Bay, FL rents

How much will Section 8 pay for a two-bedroom in Palm Bay, FL?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,780, that basic range is $1,602 to $1,958 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is Palm Bay, FL in?

Palm Bay, FL is in the Palm Bay-Melbourne-Titusville, FL MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Palm Bay, FL for FY 2027?

The two-bedroom FMR rose 4.1%, from $1,710 in FY 2026 to $1,780 in FY 2027. Since FY 2023 it has risen 29.0%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentFL statewide rentsWhat is SAFMR?Data sources