ZIP Code · FL

ZIP 32905

Part of Palm Bay, FL

Pop. 24,792·Brevard County·582nd most expensive ZIP in Florida

Median rent (all units)

$1,591/mo

Year-over-Year

+0.3%

Month-over-Month

+0.3%

vs US Median

-$341

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 32905 · $1,591

More affordable than 66% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,210

1 BR

$1,410

2 BR

$1,630

3 BR

$2,220

4 BR+

$2,520

Research median

$1,630/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 32905 usually run 1.3% below trend in December and 1.2% above it in July, about $40 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 32905 is 2.3% below its high of $1,629 in January 2025, at $1,591 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 32905 changed +0.3% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Since before the pandemic

Rent in ZIP 32905 is 37.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 3 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($56,411) is $1,410 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,410); a 2-bedroom is $1,630.

Rank in Palm Bay

1st cheapest of 4 ZIP codes in Palm Bay.

From Zillow's monthly rent index (ZORI) for ZIP 32905. 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.

Annual cost

$19,092/yr

At $1,591/mo median

Location

CityPalm Bay

StateFL

CountyBrevard County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.3% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 32905 (Palm Bay, FL) is majority owner-occupied, has a large retiree population, has a median income below the national average, 26.8% of residents hold a bachelor's degree or higher.

Population

24,792

Median income

$56,411

Median age

45.1

Renters

44%

Age distribution

16.2%

24%

19.1%

16.6%

24.1%

Under 1816.2%

18–3424%

35–5419.1%

55–6416.6%

65+24.1%

Gender

50.8%

49.2%

Male50.8%

Female49.2%

Race & ethnicity

60.8%

17.7%

16.1%

White60.8%

Black17.7%

Hispanic16.1%

Asian1.8%

Other3.7%

Education (25+)

33.2%

30.5%

26.8%

No HS diploma9.4%

HS diploma33.2%

Some college30.5%

Bachelor's+26.8%

Housing tenure

56%

44%

Owner56%

Renter44%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 32905 in Palm Bay, FL has changed in 5 years

Rent

$1,272 → $1,591

up 25.1%

Income

$48,299 → $56,411

up 16.8%

Population

26,073 → 24,792

down 4.9%

Renter share

44.5% → 44%

-0.5 pts

Bachelor's+

26.7% → 26.8%

+0.1 pts

Median age

41.6 → 45.1

+3.5 yrs

The median rent in ZIP 32905 in Palm Bay, FL stood at $1,272 in 2021 and currently runs about $1,591, reflecting a 25.1% increase over the period. On the earnings side, the typical household in ZIP 32905 in Palm Bay, FL now reports about $56,411, up from $48,299 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 4.9% since 2021, moving from about 26,073 residents to roughly 24,792. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 32905 in Palm Bay, FL reflects that arc in its own way.

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About renting in ZIP 32905

Last updated: October 17, 2026

ZIP code 32905 covers Palm Bay, FL. The median rent here is $1,591/mo as of October 2026. A 1-bedroom rents for a median of $1,410/mo. A 2-bedroom rents for a median of $1,630/mo.

At 34% of local median household income ($56,411/yr), ZIP 32905 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32905?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,591/mo in ZIP 32905. The local median household income is $56,411/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 32905?

Rent in ZIP 32905 has been roughly flat over the past year as of September 2026, a +0.3% change. It sits 2.3% below its high of $1,629 in January 2025.

When is the cheapest time to rent in ZIP 32905?

Asking rents in ZIP 32905 are usually lowest in December, about 1.3% below their yearly trend, and highest in July, about 1.2% above it. At today's median that is a gap of roughly $40 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 32905 compare to other ZIPs in Florida?

ZIP 32905 is one of the more affordable among Florida ZIP codes for rent, ranking #582 of 656 at $1,591/mo. Over the year to September 2026, rent in ZIP 32905 changed +0.3%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.