Cheap Apartments for Rent in Palm Bay, FL from $700 (25 Rentals)

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Search the lowest-cost Apartments available for rent right now in Palm Bay.

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The Pines Apartments
1 to 2 Bedroom Apartments

The Pines Apartments

3016 Pinewood Dr NEPalm Bay, FL 32905
  • Utilities Included
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Hickory Pointe
1 to 2 Bedroom Apartments

Hickory Pointe

2700 Carlson CirMelbourne, FL 32901
Senior Living
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

46 W New Haven AveMelbourne, FL 32901
  • Utilities Included
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Windover Palms
1 to 3 Bedroom Apartments

Windover Palms

310 Fitness CirMelbourne, FL 32901
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The Highline
1 to 2 Bedroom Apartments

The Highline

635 E New Haven AveMelbourne, FL 32901

Palm Bay, FL Local Guide

Cheapest Neighborhoods for Apartments in Palm Bay, FL

Pricing Updated: 03/21/2025

Current apartment rentals in the Palm Bay, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Palm Bay Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
The Compound$1,959$985360
South Cove$2,200$8651412

Cheapest Available Palm Bay Apartments for Rent

 

The cheapest available apartment rental in Palm Bay, FL is a Studio unit found at Windwood Apartments in the South Cove neighborhood priced from $1,025. Indian River Flats in the South Cove neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,049. Here is today’s list of the most affordable Palm Bay apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Windwood ApartmentsStudio Apartment (Standard)Studio,1BA$1,025
Indian River FlatsCoralStudio,1BA$1,049
Palm Side ApartmentsStudio (Upgraded)Studio,1BA$1,150
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224

Best Value Apartments for Rent in Palm Bay, FL

As of March 21, 2025 the best value apartment in the Palm Bay area is the $1.02 price per square foot 130 Appleby St NE Model at 130 Appleby St NE in the in the The Compound neighborhood starting from $2,450. The second greatest value Palm Bay apartment is the 508 Almond Ave NW Model at 508 Almond Ave NW starting at $2,275 with a $1.29 price per square foot . Here is today’s list of the best values for Palm Bay apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
130 Appleby St NE130 Appleby St NE4BR,2.5BA$1.02
508 Almond Ave NW508 Almond Ave NW4BR,3BA$1.29
Malabar Cove ApartmentsThree Bedroom Two Bath (B)3BR,2BA$1.01
The Palm Bay Grand Apartments1 Deluxe1BR,1BA$1.24
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.22
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Ascent of Palm BaySanibel2BR,2BA$1.21
Palm Bay ClubB12BR,2BA$1.24
Mercury Cove Apartments2BR/1.0BA2BR,1BA$1.38
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Palm Bay, FL Rentals by Map

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Getting Around Palm Bay, FL

Walk Score®

34 / 100

Car-Dependent

Most errands require a car

Bike Score®

48 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

1 / 100

Minimal Transit

It may be possible to get on a bus

Frequently Asked Questions about Cheap Palm Bay Apartments

What is a cheap apartment in Palm Bay?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Palm Bay is under $1,256.

What is the price of a cheap apartment in Palm Bay?

The cheapest apartment in Palm Bay is Windwood Apartments which is listed at $1,185, while the average apartment in Palm Bay costs $2,079.

What types of apartments are the cheapest in Palm Bay?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 14 regular apartments in Palm Bay that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Palm Bay?

Cheap apartments in Palm Bay have an average cost of $934 which is $1,145 cheaper than the average rent for all rentals in Palm Bay.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

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With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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