ZIP 32904
Is your rent fair?
Compare your rent to the local median.
Rent by unit size
Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 32904 usually run 0.7% below trend in February and 0.8% above it in August, about $29 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 32904 is 0.1% below its high of $1,929 in August 2026, at $1,928 as of September 2026.
Rent in ZIP 32904 changed +2.4% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in ZIP 32904 rose 47% while median household income rose 37.2% ($66,086 to $90,673). Rent outpaced income.
Rent in ZIP 32904 is 44.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 8 of the last 12 months.
30% of the median household income ($90,673) is $2,267 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,080); a 3-bedroom is $2,840.
4th cheapest of 5 ZIP codes in Melbourne.
ZIP 32901, 3 miles away, rents for 10% less ($1,733/mo), about $2,300 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 32904. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 32904 (Melbourne, FL) is majority owner-occupied, has a large retiree population, has a median income above the national average, 40.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 32904 in Melbourne, FL has changed in 5 years
Rent in ZIP 32904 in Melbourne, FL has increased 33.5% since 2021, going from about $1,444 per month to roughly $1,928 today. Median household income grew from $75,801 to $90,673 between 2021 and 2024, a 19.6% shift. Rent outpaced income growth by roughly 13.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 35,079 to 37,241 between 2021 and 2024, a 6.2% change. About 25.6% of households rent today, against 18% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 37.5% to 40.6%. Taken together, the five-year picture in ZIP 32904 in Melbourne, FL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
Discussions about ZIP 32904
No discussions yet. Start the conversation.
Tips for renters in ZIP 32904
Last updated: October 17, 2026
ZIP code 32904 covers Melbourne, FL. The median rent here is $1,928/mo as of October 2026. A 1-bedroom rents for a median of $1,800/mo. A 2-bedroom rents for a median of $2,080/mo.
At 26% of local median household income ($90,673/yr), ZIP 32904 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.
Frequently asked questions
How much income do you need to rent in ZIP 32904?
Is rent going up or down in ZIP 32904?
When is the cheapest time to rent in ZIP 32904?
Has rent outpaced income in ZIP 32904?
How does ZIP 32904 compare to other ZIPs in Florida?
How does ZIP 32904 compare to the rest of Melbourne?
At $1,928/mo, rent takes ~26% of ZIP 32904's median household income ($90,673/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Be the first to submit your rent for this ZIP.
No discussions yet.