Palm Coast Rent Growth Slowed Most in September 2026
Palm Coast’s two sampled ZIP codes had slower annual rent growth than the selected Boca Raton and Deerfield Beach ZIP codes in September 2026. Palm Coast ZIP 32164 had the smallest year-over-year increase in the group at 0.56%, compared with 6.03% in Deerfield Beach’s 33441.
These figures are ZIP-level Zillow Observed Rent Index readings. They are not citywide averages or quotes for individual homes. The readings show the direction and relative pace of the rental market, while the rent for a particular house can vary with its size, condition, location, amenities and lease terms.
September 2026 rent growth at a glance
Palm Coast held the two slowest-growth positions
The comparison covers two Palm Coast ZIP codes, three Boca Raton ZIP codes and Deerfield Beach’s 33441. All six readings come from the same September 2026 Zillow ZIP-level dataset, with consistent dates and index definitions.
ZIP 32164, which covers a large part of southern and western Palm Coast, recorded an index of $1,864.18. Its 0.56% annual increase was less than one-tenth of the 6.03% increase in Deerfield Beach 33441. Palm Coast 32137 had the next-lowest rate at 2.12%.
Complete ZIP comparison
| Area and ZIP | September 2026 rent index | Month over month | Year over year | Three-year change |
|---|---|---|---|---|
| Palm Coast 32164 | $1,864.18 | 0.70% | 0.56% | 2.85% |
| Palm Coast 32137 | $1,962.15 | 0.33% | 2.12% | 3.19% |
| Boca Raton 33433 | $2,586.42 | 0.71% | 3.93% | 5.02% |
| Deerfield Beach 33441 | $2,614.13 | 1.92% | 6.03% | 10.29% |
| Boca Raton 33486 | $3,006.67 | 1.07% | 5.15% | 6.30% |
| Boca Raton 33432 | $3,286.76 | 1.24% | 3.84% | 8.55% |
Source: Zillow Observed Rent Index, ZIP-level single-family residence and condominium series, September 2026. Percentage changes are calculated from the corresponding August 2026, September 2025 and September 2023 index values.
Every ZIP increased from August to September, so slower growth does not mean rents fell. Among these six selected areas, Palm Coast had the smallest annual increases.
What happened in Palm Coast
ZIP 32164 was nearly flat over the year
ZIP 32164 rose from $1,853.81 in September 2025 to $1,864.18 in September 2026. That was a difference of $10.37 in the index, or 0.56%. It also increased $13.00 from August’s $1,851.18 reading, producing the reported 0.70% monthly gain.
The longer view was also restrained. The September index increased $51.65 from $1,812.53 in September 2023, equal to 2.85% over three years. For renters comparing the lettered sections around Belle Terre Parkway, Seminole Woods Boulevard and State Road 100, the trend points to a relatively stable broad market. It does not promise that every renewal will rise by only a few dollars.
ZIP 32137 grew faster but still trailed South Florida
North Palm Coast ZIP 32137 reached $1,962.15, or $40.75 above its September 2025 index of $1,921.40. That produced 2.12% annual growth. Its three-year increase was 3.19%, from $1,901.54 in September 2023.
The difference between Palm Coast’s two sampled ZIPs was $97.97 in September 2026. Someone comparing Indian Trails or Matanzas Woods with areas farther south should still look closely at the home, yard, garage, pet policy and commute. A ZIP-level difference cannot determine which individual lease is the better value.
How South Florida compared
Deerfield Beach 33441 had the fastest annual growth
Deerfield Beach 33441 recorded a $2,614.13 index and the group’s fastest annual increase at 6.03%. Its index rose $148.63 from $2,465.50 in September 2025. It also had the largest one-month increase, 1.92%, after moving up $49.26 from August 2026.
The three-year change was 10.29%, from $2,370.13 in September 2023. Among these six ZIPs, 33441 had both the strongest recent annual growth and the largest cumulative three-year increase.
Boca Raton’s sampled ZIPs covered the middle and upper ranges
Boca Raton’s annual changes ranged from 3.84% in 33432 to 5.15% in 33486. ZIP 33433 stood between them at 3.93%. Even the slowest Boca reading was 1.72 percentage points above Palm Coast 32137 and 3.28 points above Palm Coast 32164.
The dollar indexes also varied substantially within Boca Raton. ZIP 33433 registered $2,586.42, while 33486 reached $3,006.67 and 33432 reached $3,286.76. The $700.34 spread between Boca’s lowest and highest sampled indexes shows why “Boca rent” should not be treated as one uniform price.
East Boca, central Boca and western communities have different housing mixes. A renter considering Federal Highway, Camino Real or areas west of Interstate 95 should narrow the search to comparable homes before using a ZIP index as a budget.
The monthly dollar gap facing renters
South Florida had a substantial index premium
With Palm Coast 32164 as the baseline, the September 2026 monthly index gaps were $722.24 for Boca Raton 33433, $749.95 for Deerfield Beach 33441, $1,142.49 for Boca Raton 33486 and $1,422.58 for Boca Raton 33432. These are arithmetic differences between the published September indexes, not guaranteed savings on a particular lease.
| Comparison with Palm Coast 32164 | Monthly index gap | Annualized gap |
|---|---|---|
| Palm Coast 32137 | $97.97 | $1,175.64 |
| Boca Raton 33433 | $722.24 | $8,666.88 |
| Deerfield Beach 33441 | $749.95 | $8,999.40 |
| Boca Raton 33486 | $1,142.49 | $13,709.88 |
| Boca Raton 33432 | $1,422.58 | $17,070.96 |
Calculations use the September 2026 ZORI values. Annualized figures multiply each monthly difference by 12 and do not forecast future rent or include fees, utilities, deposits or concessions.
Use the annualized figures to screen options
A $722.24 monthly index difference becomes $8,666.88 over 12 months. That is enough to warrant a broader comparison of commuting, insurance, utilities and lifestyle, though it should not decide the search on its own.
A South Florida condominium may include services that a Palm Coast single-family lease does not. A Palm Coast home, meanwhile, may have a garage, driveway or private outdoor space that changes its practical value. Put every recurring charge on one sheet before deciding which home has the lower total cost.
What slower growth means at renewal time
It can support a calm, evidence-based conversation
For renters focused on predictable renewal costs, the 0.56% and 2.12% Palm Coast readings are encouraging indicators. The sampled Palm Coast ZIP markets moved more slowly over the year than the selected South Florida ZIPs.
The figures do not cap a landlord’s proposed increase. A specific home may have been priced below its local market, renovated since the previous lease or affected by expenses that the index does not reflect. Use the data to begin a conversation, then bring comparable homes with similar bedrooms, bathrooms, condition and location.
Request terms before the decision becomes urgent
Ask for proposed renewal terms early enough to compare alternatives without rushing. Request the new base rent, lease length, effective date and every recurring fee in writing. If the increase is substantial, ask whether a longer lease, an earlier commitment or a different start date would change the offer.
A useful renewal question is: “The September ZIP-level index shows relatively slow annual growth here. Can we review the proposed rent alongside comparable homes and the full fee schedule?”
The question sticks to the facts while allowing for differences between the market index and the home itself. That is more useful than insisting that a ZIP percentage must control an individual renewal.
How to use ZORI without misreading it
It is an index of the typical market, not a listing sheet
Zillow describes ZORI as a smoothed measure of the typical observed market-rate rent. It uses repeat-rent observations and weights them to represent the rental housing stock instead of relying only on homes advertised in a particular month.
Zillow’s dollar-denominated index uses rents in the middle of the distribution. Its research page explains that the amount is based on the mean of listed rents in the 35th-to-65th-percentile range, with weighting intended to reflect the broader market. The file selected for this article covers single-family residences and condominiums.
The methodology controls for changes in available inventory
According to Zillow’s ZORI methodology, the index measures changes in asking rents over time while controlling for changes in the quality of available rental stock. It compares repeated observations of the same units, applies market weights and smooths the resulting index with a three-month moving average.
This design helps keep a month with unusually expensive or inexpensive listings from distorting the trend. The index is still different from the exact asking price of the home you tour today. Use it to understand market movement, then turn to the lease and listing details when evaluating the home.
A practical comparison checklist
Compare similar homes
- Match the housing type. Compare a detached home with other detached homes, or a condominium with similar condominiums.
- Keep the basic features aligned. Bedrooms, bathrooms, square footage, garage space, yard condition and renovation quality can outweigh a ZIP-wide trend.
- Confirm the precise ZIP. Do not apply Palm Coast 32164’s 0.56% growth rate to a home in 32137, or a Boca Raton result to Deerfield Beach.
- Use the same time frame. Compare September 2026 with September 2025 for annual growth, not with an unrelated seasonal month.
Build an all-in monthly budget
- Write down the base rent and every mandatory monthly fee.
- Ask who pays for water, sewer, trash, lawn service, pest control and association charges.
- Verify pet rent, parking charges and one-time application or association fees.
- Request recent utility information when available, keeping in mind that household habits affect the result.
- Price the commute you will actually make, including fuel, tolls or station parking.
- Read the renewal and notice clauses before signing instead of waiting until the lease is about to expire.
Renters exploring Flagler County can browse the Palm Coast rental guides for local context, then compare current rental availability. If a three-bedroom layout is relevant, a home such as Palm Coast Paradise Unit A can provide one real-world comparison. Its individual terms should be evaluated separately from ZORI.
Choosing between Palm Coast and South Florida
Start with the reason for the move
If a predictable housing budget is the first priority, this September snapshot favors the sampled Palm Coast ZIPs. Their annual growth rates were lower, and their dollar indexes were at least $624.27 below every selected South Florida ZIP. The smallest cross-region gap was between Palm Coast 32137 at $1,962.15 and Boca Raton 33433 at $2,586.42.
If work, family or daily routines are concentrated in Boca Raton or Deerfield Beach, the lower Palm Coast index may not make up for the distance. Price the full routine along with the lease. Write down where you need to be during an ordinary week, then evaluate homes from there.
Use a simple decision rule
Begin by eliminating homes that fail the commute, space or pet requirements. Then compare the all-in monthly cost of the homes that remain. Use the ZIP growth rate as a measure of recent market pressure rather than the deciding factor.
This order keeps a low index from making an unsuitable home look attractive. It also keeps a higher-cost ZIP in consideration until you have accounted for included services, shorter trips or a housing type that better fits your daily life.
Talk through a Palm Coast rent comparison
If you are weighing 32164 against 32137 or comparing Palm Coast with a South Florida move, gather your preferred bedrooms, lease date, pet needs and total monthly ceiling. Oasis Rentals can help you compare actual Palm Coast options with the ZIP-level context in this report. Contact Tyler at 386-516-5774 or Tyler@386rent.com.
Sources
FAQ
Where did rent growth slow most among the selected ZIP codes?
Palm Coast ZIP 32164 had the smallest year-over-year increase, 0.56% in September 2026. Palm Coast 32137 was second-lowest at 2.12%.
Which selected ZIP had the fastest annual rent growth?
Deerfield Beach 33441 had the fastest annual increase at 6.03%, followed by Boca Raton 33486 at 5.15%.
Are these citywide average rents?
No. They are ZIP-level Zillow Observed Rent Index readings for single-family residences and condominiums. They should not be treated as citywide averages or quotes for individual homes.
How much lower was Palm Coast 32164 than Deerfield Beach 33441?
The September 2026 index for 32164 was $1,864.18, compared with $2,614.13 in 33441. The difference was $749.95 per month, or $8,999.40 when multiplied by 12.
Can a renter use the ZIP growth rate to challenge a renewal increase?
The rate can support a discussion, but it does not control an individual lease. Compare similar nearby homes, request all renewal terms and fees in writing, and account for the home’s condition, features and current pricing.
Photo credits: Infrogmation of New Orleans / CC BY-SA 3.0; Elfguy at English Wikipedia / Public domain