FY2027 Small Area FMR · Palm Bay, FL

ZIP 32905 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 32905 (Palm Bay, FL) is $1,670 a month, up 2.5% from FY2026. That is 6% below the Palm Bay-Melbourne-Titusville, FL area-wide FMR of $1,779.

2-bedroom SAFMR$1,670per month ▲ 2.5%

Area-wide 2 BR FMR$1,779Palm Bay-Melbourne-Titusvill

Rank in the area34thof 45 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,503

2 BR Small Area FMR$1,670

110% of SAFMR$1,837

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,250▲ 3.3%

1 BR$1,430▲ 1.4%

2 BR$1,670▲ 2.5%

3 BR$2,240▲ 0.9%

4 BR$2,540▲ 0.8%

FY2027 FY2026

Where 32905 sits in the Palm Bay-Melbourne-Titusville, FL area

Of the 45 ZIP codes HUD lists for the area, 32905 has the 34th highest two-bedroom Small Area FMR. Palm Bay-Melbourne-Titusville, FL is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2016), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,503 and $1,837 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,250	$1,125 – $1,375	$1,327	$1,210
1 bedroom	$1,430	$1,287 – $1,573	$1,525	$1,410
2 bedrooms	$1,670	$1,503 – $1,837	$1,779	$1,630
3 bedrooms	$2,240	$2,016 – $2,464	$2,382	$2,220
4 bedrooms	$2,540	$2,286 – $2,794	$2,707	$2,520

A household renting a two-bedroom home at the Small Area FMR of $1,670 needs about $66,800 a year to keep housing costs at 30% of income. The area median family income is $97,000 and the 80% low-income limit for four people is $79,700. ZIP code 32905 lies mainly in Brevard County. See the Palm Bay-Melbourne-Titusville, FL county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
32901	Melbourne	3.6 mi	$1,770
32950	Malabar	4.0 mi	$2,320
32907	Palm Bay	4.9 mi	$2,060
32904	Melbourne	5.1 mi	$2,110
32903	Indialantic	5.5 mi	$2,090
32908	Palm Bay	7.9 mi	$2,150

Questions

What is the Fair Market Rent for ZIP code 32905?

HUD's FY2027 Small Area Fair Market Rents for 32905 are $1,250 (studio), $1,430 (1 BR), $1,670 (2 BR), $2,240 (3 BR) and $2,540 (4 BR) a month.

What is the Section 8 payment standard in 32905?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 32905 that range is $1,503 to $1,837 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 32905?

The FY2026 income limits of the Palm Bay-Melbourne-Titusville, FL area apply: median family income $97,000, low-income (80%) limit $79,700 for a family of four.