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Palm Coast, FL

The Fair Market Rent for a 2-bedroom in Palm Coast, FL is $1,806 per month, ranking #101 out of 693 areas nationwide. The area median household income is $67,599, meaning a household spending Fair Market Rent on a 2-bedroom would pay 32.1% of income on housing. Rent in Palm Coast has increased 23.3% year over year. The area has a population of 690K, with 25.7% of households renting.

32.1%
Rent Burdened
of income → rent
$1,806
2BR Fair Market Rent
vs $1,250 national median
$67,599
Median Income
vs $71,049 national
$1,407
Actual Median Rent
Census ACS estimate
+23.3%
Year-over-Year
2BR FMR change
690K
Population
Census ACS
25.7%
Renters
of occupied housing
$287,200
Median Home Value
14.5%
Vacancy Rate
of housing units
11.7%
Poverty Rate
below poverty line

Fair Market Rent by Bedroom Size

$1,278
Studio
$1,433
1 Bedroom
$1,806
2 Bedroom
$2,468
3 Bedroom
$2,797
4 Bedroom

Fair Market Rents (FMRs) are set annually by the U.S. Department of Housing and Urban Development and represent the 40th percentile of gross rents for standard-quality units in an area. FMRs are used to determine payment standards for the Housing Choice Voucher program and other federal housing assistance.

Housing Affordability

In Palm Coast, FL, a household earning the area median income of $67,599 would spend 32.1% of their gross income on a 2-bedroom at Fair Market Rent. HUD considers households spending more than 30% of income on housing to be "cost-burdened." This means many renters in this area face financial strain from housing costs.

Income Needed for 2BR
$72,240
annual (30% threshold)
Hourly Wage Needed
$35
full-time (2,080 hrs/yr)
Actual Median Rent
$1,407
$399 below FMR

5-Year Rent Trend

+64.2% since 2021
$1,1002021$1,1932022$1,4012023$1,4652024$1,6932025$1,8062026

2-bedroom Fair Market Rent by fiscal year. Source: HUD FMR API.

Minimum Wage Affordability

The minimum wage in Florida is $14.00/hr. A minimum-wage worker would need to work 99.2 hours per week to afford a 2-bedroom at Fair Market Rent without exceeding 30% of income on housing. This means a single minimum-wage earner cannot afford a 2-bedroom working a standard 40-hour week. The poverty rate in Palm Coast is 11.7%, below the national average of approximately 12.4%.

State Min Wage
$14.00/hr
Hours/Week Needed
99.2 hrs
Poverty Rate
11.7%

Housing Market Context

The median home value in Palm Coast is $287,200. At a median income of $67,599, this represents a price-to-income ratio of 4.2x. 14.5% of housing units in the area are vacant, which is above the national average and may indicate softer demand or seasonal housing.

Rent vs. Buy
$2,010 est. mortgage
vs $1,806 FMR rent
Vacancy Rate
14.5%
of housing units

Other Areas in Florida

Miami-Miami Beach-Kendall
$2,436/mo
2BR FMR · 39.8% burden
Fort Lauderdale
$2,333/mo
2BR FMR · 38.1% burden
West Palm Beach-Boca Raton
$2,254/mo
2BR FMR · 36.8% burden
Naples-Marco Island
$1,986/mo
2BR FMR · 27.7% burden
Tampa-St. Petersburg-Clearwater
$1,977/mo
2BR FMR · 33.3% burden

Compare Palm Coast

vs Miami-Miami Beach-Kendall, FLvs Fort Lauderdale, FLvs West Palm Beach-Boca Raton, FL

Areas With Similar Rent to Palm Coast

Frequently Asked Questions

The HUD Fair Market Rent for a 2-bedroom in Palm Coast, FL is $1,806 per month. A studio is $1,278/mo, a 1-bedroom is $1,433/mo, and a 3-bedroom is $2,468/mo. The actual median gross rent from Census data is $1,407/mo.

Palm Coast has a rent burden of 32.1%, meaning a household earning the median income of $67,599 would spend 32.1% of income on a 2-bedroom at Fair Market Rent. HUD considers spending 30%+ on housing to be cost-burdened. To afford a 2-bedroom without being cost-burdened, a household would need an annual income of at least $72,240.

Palm Coast's 2-bedroom Fair Market Rent of $1,806/mo is $556 above the national median of $1,250/mo. Palm Coast ranks #101 out of 693 areas for highest rent in the United States.

To afford a 2-bedroom at Fair Market Rent in Palm Coast without spending more than 30% of income on housing, you would need an annual household income of at least $72,240, or a full-time hourly wage of $35/hour. The area median income is $67,599.

The 2-bedroom Fair Market Rent in Palm Coast increased by 23.3% compared to the prior year. This is a significant increase, suggesting growing demand in the local housing market.

Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. Rent burden is calculated as annual 2BR FMR divided by area median household income. Census data (income, home value, population, vacancy) is from the ACS 5-Year estimates. Unemployment rates are from BLS Local Area Unemployment Statistics.