ZIP 32909
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12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 32909 usually run 1% below trend in January and 0.8% above it in August, about $35 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 32909 is at its highest level since Zillow's records here began in February 2016.
Rent in ZIP 32909 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 32909 rose 47.5% while median household income rose 56.1% ($51,226 to $79,977). Income kept ahead of rent.
Rent in ZIP 32909 is 50.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($79,977) is $1,999 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,740); a 3-bedroom is $2,370.
2nd cheapest of 4 ZIP codes in Palm Bay.
ZIP 32905, 8 miles away, rents for 18% less ($1,591/mo), about $4,100 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 32909. 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 32909 (Palm Bay, FL) is majority owner-occupied, has a large share of families with children, 23.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 32909 in Palm Bay, FL has changed in 5 years
The median rent in ZIP 32909 in Palm Bay, FL stood at $1,432 in 2021 and currently runs about $1,935, reflecting a 35.1% increase over the period. Median household income rose from $56,811 to $79,977 between 2021 and 2024, a 40.8% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 22.4% since 2021, moving from about 34,156 residents to roughly 41,804. Taken together, the five-year picture in ZIP 32909 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 32909
Last updated: October 17, 2026
ZIP code 32909 covers Palm Bay, FL. The median rent here is $1,935/mo as of October 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,740/mo.
At 29% of local median household income ($79,977/yr), ZIP 32909 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.
Frequently asked questions
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How does ZIP 32909 compare to the rest of Palm Bay?
At $1,935/mo, rent takes ~29% of ZIP 32909's median household income ($79,977/yr). The standard benchmark is 30%.
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