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ZIP Code · FL

ZIP 32907

Part of Palm Bay, FL
Pop. 49,080·Brevard County·308th most expensive ZIP in Florida
Median rent (all units)
$2,139/mo
Year-over-Year
+7.7%
Month-over-Month
+2.6%
vs US Median
+$177
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 32907 · $2,139
More expensive than 67% of US ZIP codes · National median $1,962/mo
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Medians by bedroom

Rent by unit size

Studio
$1,430
1 BR
$1,670
2 BR
$1,930
3 BR
$2,630
4 BR+
$2,990
Research median
$1,930/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: August 17, 2026

Annual cost
$25,668/yr
At $2,139/mo median
Location
StateFL
CountyBrevard County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.7% YoY, +2.6% MoM), not inventory.
Demographics

Who lives here

ZIP 32907 (Palm Bay, FL) is majority owner-occupied, has a large retiree population, 22.7% of residents hold a bachelor's degree or higher.

Population
49,080
Median income
$75,311
Median age
43.3
Renters
13.3%
Age distribution
20.2%
18.8%
24.1%
15.6%
21.2%
Under 1820.2%
18–3418.8%
35–5424.1%
55–6415.6%
65+21.2%
Gender
48.2%
51.8%
Male48.2%
Female51.8%
Race & ethnicity
58.3%
17.8%
20.2%
White58.3%
Black17.8%
Hispanic20.2%
Asian1.8%
Other2%
Education (25+)
32.4%
35.2%
22.7%
No HS diploma9.6%
HS diploma32.4%
Some college35.2%
Bachelor's+22.7%
Housing tenure
86.7%
13.3%
Owner86.7%
Renter13.3%

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

2021 vs 2026

How ZIP 32907 in Palm Bay, FL has changed in 5 years

Rent
$1,528 → $2,139
up 40.0%
Income
$59,364 → $75,311
up 26.9%
Population
47,209 → 49,080
up 4.0%
Renter share
15% → 13.3%
-1.7 pts
Bachelor's+
18.7% → 22.7%
+4.0 pts
Median age
44.5 → 43.3
-1.2 yrs

Across the past five years, the going rent in ZIP 32907 in Palm Bay, FL has shifted from $1,528 to $2,139, up 40.0% since 2021. Median household income climbed from $59,364 to $75,311 between 2021 and 2024, a 26.9% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 32907 in Palm Bay, FL adding about 1,871 residents over the five-year window, up 4.0% on net. The renter share has eased from 15% to 13.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 18.7% to 22.7% across the same window. Taken together, the five-year picture in ZIP 32907 in Palm Bay, 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.

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Local insights

Tips for renters in ZIP 32907

About renting in ZIP 32907

Last updated: August 17, 2026

ZIP code 32907 covers Palm Bay, FL. The median rent here is $2,139/mo as of August 2026. A 1-bedroom rents for a median of $1,670/mo. A 2-bedroom rents for a median of $1,930/mo.

At 34% of local median household income ($75,311/yr), ZIP 32907 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 32907?

As of August 17, 2026, the median monthly rent in ZIP 32907 (Palm Bay, FL) is $2,139. This is based on aggregated data from public sources and community submissions.

How does ZIP 32907 rent compare to the US average?

ZIP 32907's median rent of $2,139/mo is $177 (9%) above the US national median of $1,962/mo.

How does ZIP 32907 compare to other ZIPs in Florida?

ZIP 32907 falls in the middle range for Florida, ranking #308 out of 661 ZIPs at $2,139/mo.

How much income do you need to rent in ZIP 32907?

To keep rent at or below 30% of gross income, you would need to earn at least $86,000/year (~$41/hour full-time) to afford the median rent of $2,139/mo in ZIP 32907. The local median household income is $75,311/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 32907?

Rent in ZIP 32907 has increased 7.7% over the past year as of August 17, 2026, putting upward pressure on renter budgets.

Is ZIP 32907 an affordable place to rent?

ZIP 32907 is considered moderate for renters. At $2,139/mo, rent takes approximately 34% of the local median household income ($75,311/yr). The standard benchmark is 30%. ZIP 32907 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 32907 residents rent vs. own?

According to Census data, approximately 13.3% of ZIP 32907 households are renters, while 86.7% are owner-occupied. ZIP 32907 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 32907 compare to the rest of Palm Bay?

ZIP 32907 is pricier than Palm Bay as a whole. At $2,139/mo, it's $252 above the Palm Bay citywide median of $1,887/mo.

When was rent data for ZIP 32907 last updated?

Rent data for ZIP 32907 reflects August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
34%
MODERATE

At $2,139/mo, rent takes ~34% of ZIP 32907's median household income ($75,311/yr). The standard benchmark is 30%.

ZIP 32907 34%Benchmark 30%
State income taxNone
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