ZIP Code · FL

ZIP 32935

Part of Melbourne, FL

Pop. 41,965·Brevard County·583rd most expensive ZIP in Florida

Median rent (all units)

$1,590/mo

Year-over-Year

Stable

Month-over-Month

+0.8%

vs US Median

-$342

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 32935 · $1,590

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

$1,310

1 BR

$1,530

2 BR

$1,770

3 BR

$2,410

4 BR+

$2,740

Research median

$1,770/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

January. Asking rents in ZIP 32935 usually run 0.9% below trend in January and 0.5% above it in May, about $22 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 32935 is 1.4% below its high of $1,612 in August 2025, at $1,590 as of September 2026.

Past year vs. the rest of Florida

Rent in ZIP 32935 changed -0.1% over the year to September 2026. Across the 623 Florida ZIP codes Zillow tracks, the typical change was +1.8%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 32935 rose 49.8% while median household income rose 30.2% ($49,611 to $64,588). Rent outpaced income.

Since before the pandemic

Rent in ZIP 32935 is 46.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($64,588) is $1,615 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,530); a 2-bedroom is $1,770.

Rank in Melbourne

1st cheapest of 5 ZIP codes in Melbourne.

From Zillow's monthly rent index (ZORI) for ZIP 32935. 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

$19,080/yr

At $1,590/mo median

Location

CityMelbourne

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 (-0.1% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 32935 (Melbourne, FL) is majority owner-occupied, has a large retiree population, has a median income below the national average, 30.3% of residents hold a bachelor's degree or higher.

Population

41,965

Median income

$64,588

Median age

40.4

Renters

40.3%

Age distribution

18.4%

24.6%

21.7%

14.2%

21.1%

Under 1818.4%

18–3424.6%

35–5421.7%

55–6414.2%

65+21.1%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

77.2%

12.6%

White77.2%

Black6.4%

Hispanic12.6%

Asian2.2%

Other1.5%

Education (25+)

27.1%

36.1%

30.3%

No HS diploma6.4%

HS diploma27.1%

Some college36.1%

Bachelor's+30.3%

Housing tenure

59.7%

40.3%

Owner59.7%

Renter40.3%

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

2021 vs 2026

How ZIP 32935 in Melbourne, FL has changed in 5 years

Rent

$1,182 → $1,590

up 34.5%

Income

$56,749 → $64,588

up 13.8%

Population

41,744 → 41,965

up 0.5%

Renter share

39.8% → 40.3%

+0.5 pts

Bachelor's+

25.3% → 30.3%

+5.0 pts

Across the past five years, the going rent in ZIP 32935 in Melbourne, FL has shifted from $1,182 to $1,590, up 34.5% since 2021. Census figures show median household income at $64,588 today, compared with $56,749 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Bachelor's-degree-or-higher attainment moved from 25.3% to 30.3% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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Local insights

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About renting in ZIP 32935

Last updated: October 17, 2026

ZIP code 32935 covers Melbourne, FL. The median rent here is $1,590/mo as of October 2026. A 1-bedroom rents for a median of $1,530/mo. A 2-bedroom rents for a median of $1,770/mo.

At 30% of local median household income ($64,588/yr), ZIP 32935 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 0.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 32935?

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 $1,590/mo in ZIP 32935. The local median household income is $64,588/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 32935?

Rent in ZIP 32935 has been roughly flat over the past year as of September 2026, a -0.1% change. It sits 1.4% below its high of $1,612 in August 2025.

When is the cheapest time to rent in ZIP 32935?

Asking rents in ZIP 32935 are usually lowest in January, about 0.9% below their yearly trend, and highest in May, about 0.5% above it. At today's median that is a gap of roughly $22 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 32935?

Yes. From 2019 to 2024, rent in ZIP 32935 rose 49.8% while median household income rose 30.2%, from $49,611 to $64,588. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 32935 compare to other ZIPs in Florida?

ZIP 32935 is one of the more affordable among Florida ZIP codes for rent, ranking #583 of 656 at $1,590/mo. Over the year to September 2026, rent in ZIP 32935 changed -0.1%, against a typical +1.8% across the 623 Florida ZIP codes Zillow tracks.