Skip to main content
Florida Landlord Network
Back to Rental Market Indices

Palm Bay–Melbourne–Titusville

Q2 2026
Rental Market Index

Palm Bay–Melbourne–Titusville benefited from aerospace and defense sector strength in Q1 2026, with rents holding near $1,500–$1,700 and modest softening consistent with statewide trends.

Historical Trends — 9 Quarters

Average asking rent ($/mo) and vacancy rate (%) — Q2 2024 through Q2 2026

Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026$1,485$1,560$1,635$1,7800%4%8%15%
  • Vacancy %
  • Avg Rent

* Figures are modeled estimates based on Florida Realtors, Apartment List, RealPage, and Zillow ZORI data. Q2 2026 reflects preliminary estimates. For research and informational purposes only.

Palm Bay–Melbourne–Titusville — Q1 2026 Rental Market Report

The Palm Bay–Melbourne–Titusville MSA (Brevard County) is one of Florida's most distinctive rental markets due to its deep concentration of aerospace and defense employment. The Space Coast — home to Kennedy Space Center, Cape Canaveral Space Force Station, Harris (L3 Technologies), and numerous SpaceX-related contractors — provides a high-wage, stable employment base that underpins rental demand.


Key Metrics — Q1 2026

  • Average monthly rent (estimated): ~$1,500–$1,700
  • Year-over-year rent change: Modest decline, approximately −1% to −3%
  • Florida statewide change: −3.0% (Apartment List, March 2026)


Market Conditions

Melbourne and Viera are the most active rental submarkets, attracting engineers, aerospace professionals, and healthcare workers. SpaceX's continued expansion at Cape Canaveral has driven incremental demand. New apartment supply has been relatively contained compared to larger metros. The market leans toward stability rather than high growth or deep softening. Titusville offers the most affordable options in the county.


Outlook for Landlords

The Space Coast is expected to remain one of Florida's more resilient secondary rental markets. Continued aerospace investment — including commercial space launches and defense contracts — supports steady high-income tenant demand. Landlords benefit from a renter base that tends to be professionally employed and stable.

Sources: Florida Realtors (April 2026), Apartment List (March 2026), Florida Housing Data Clearinghouse, Florida Landlord Network analysis.

Eviction ServiceRental AssistantForms & ResourcesMarket MonitorNewsKnowledge BaseMarketplaceEviction TrackerContact/FeedbackAboutPrivacyTermsAccessibilityEditorial PolicyCorrections Policy

Important Notice: Florida Landlord Network is an independent, non-attorney service. We urge you to consult an attorney before relying on any publication, using any document or described procedure found herein. Florida Landlord Network is not licensed by the Florida Bar to practice law and is not authorized to give legal advice or tell you your legal rights.