ZIP 32907
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12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in ZIP 32907 usually run 0.5% below trend in December and 0.8% above it in July, about $27 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 32907 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 32907 changed +6.2% 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 32907 rose 46.4% while median household income rose 37.1% ($54,951 to $75,311). Rent outpaced income.
Rent in ZIP 32907 is 51.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 5 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($75,311) is $1,883 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,670); a 2-bedroom is $1,930.
4th cheapest of 4 ZIP codes in Palm Bay.
ZIP 32905, 5 miles away, rents for 24% less ($1,591/mo), about $6,100 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 32907. 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 32907 (Palm Bay, FL) is majority owner-occupied, has a large retiree population, 22.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 32907 in Palm Bay, FL has changed in 5 years
Across the past five years, the going rent in ZIP 32907 in Palm Bay, FL has shifted from $1,535 to $2,102, up 36.9% 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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Tips for renters in ZIP 32907
Last updated: October 17, 2026
ZIP code 32907 covers Palm Bay, FL. The median rent here is $2,102/mo as of October 2026. A 1-bedroom rents for a median of $1,670/mo. A 2-bedroom rents for a median of $1,930/mo.
At 33% of local median household income ($75,311/yr), ZIP 32907 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.2% over the past year.
Frequently asked questions
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How does ZIP 32907 compare to the rest of Palm Bay?
At $2,102/mo, rent takes ~33% of ZIP 32907's median household income ($75,311/yr). The standard benchmark is 30%.
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