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ZIP Code · FL

ZIP 32934

Pop. 18,564·Brevard County·511th most expensive ZIP in Florida
Median rent (all units)
$1,775/mo
Year-over-Year
+3.2%
Month-over-Month
-2.7%
vs US Median
-$190
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 32934 · $1,775
More affordable than 53% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,570
1 BR
$1,830
2 BR
$2,120
3 BR
$2,890
4 BR+
$3,280
Research median
$2,120/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: July 20, 2026

Annual cost
$21,300/yr
At $1,775/mo median
Location
StateFL
CountyBrevard County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (up only 3.2% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+3.2% YoY, -2.7% MoM), not inventory.
Demographics

Who lives here

ZIP 32934 (Melbourne, FL) is majority owner-occupied, has a large retiree population, has a median income above the national average, 42.6% of residents hold a bachelor's degree or higher.

Population
18,564
Median income
$104,369
Median age
53.8
Renters
12.4%
Age distribution
15.6%
16.5%
19.3%
19.7%
28.9%
Under 1815.6%
18–3416.5%
35–5419.3%
55–6419.7%
65+28.9%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
81.6%
White81.6%
Black3%
Hispanic8.7%
Asian1.7%
Other5.1%
Education (25+)
20.2%
32.6%
42.6%
No HS diploma4.5%
HS diploma20.2%
Some college32.6%
Bachelor's+42.6%
Housing tenure
87.6%
12.4%
Owner87.6%
Renter12.4%

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

2021 vs 2026

How ZIP 32934 in Melbourne, FL has changed in 5 years

Income
$91,600 → $104,369
up 13.9%
Population
18,901 → 18,564
down 1.8%
Renter share
10.5% → 12.4%
+1.9 pts
Bachelor's+
38.8% → 42.6%
+3.8 pts
Median age
52.9 → 53.8
+0.9 yrs

Local incomes tracked alongside that move, going from a median of $91,600 in 2021 to $104,369 more recently. Census counts show ZIP 32934 in Melbourne, FL losing about 337 residents over the five-year window, down 1.8% on net. The renter share has risen from 10.5% to 12.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 38.8% to 42.6% across the same window.

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Local insights

Tips for renters in ZIP 32934

About renting in ZIP 32934

Last updated: July 20, 2026

ZIP code 32934 covers Melbourne, FL. The median rent here is $1,775/mo as of July 2026. A 1-bedroom rents for a median of $1,830/mo. A 2-bedroom rents for a median of $2,120/mo.

At 20% of local median household income ($104,369/yr), ZIP 32934 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 32934?

As of July 20, 2026, the median monthly rent in ZIP 32934 (Melbourne, FL) is $1,775. This is based on aggregated data from public sources and community submissions.

How does ZIP 32934 rent compare to the US average?

ZIP 32934's median rent of $1,775/mo is $190 (10%) below the US national median of $1,965/mo.

How does ZIP 32934 compare to other ZIPs in Florida?

ZIP 32934 is among the more affordable ZIP codes in Florida, ranking #511 out of 662 ZIPs at $1,775/mo.

How much income do you need to rent in ZIP 32934?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (~$34/hour full-time) to afford the median rent of $1,775/mo in ZIP 32934. The local median household income is $104,369/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 32934?

Rent in ZIP 32934 has increased 3.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 32934 an affordable place to rent?

ZIP 32934 is considered very affordable for renters. At $1,775/mo, rent takes approximately 20% of the local median household income ($104,369/yr). The standard benchmark is 30%. ZIP 32934 falls comfortably within that range.

What percentage of ZIP 32934 residents rent vs. own?

According to Census data, approximately 12.4% of ZIP 32934 households are renters, while 87.6% are owner-occupied. ZIP 32934 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 32934 compare to the rest of Melbourne?

ZIP 32934 is more affordable than Melbourne overall. At $1,775/mo, it's $87 below the Melbourne citywide median of $1,862/mo.

When was rent data for ZIP 32934 last updated?

Rent data for ZIP 32934 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
20%
VERY AFFORDABLE

At $1,775/mo, rent takes ~20% of ZIP 32934's median household income ($104,369/yr). The standard benchmark is 30%.

ZIP 32934 20%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 32934 (Melbourne, FL)

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