Cheap Apartments for Rent near Melbourne, AR from $425 (48 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

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Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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West End Social
Studio Apartments

West End Social

1350 Hwy 62 WMountain Home, AR 72653
  • Utilities Included
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White River Commons
Studio to 1 Bedroom Apartments

White River Commons

1325 N Saint LouisBatesville, AR 72501
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West Towne Apartments
2 Bedroom Apartments

West Towne Apartments

2103 W Beebe Capps ExpySearcy, AR 72143
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Tara Apartments
Studio to 2 Bedroom Apartments

Tara Apartments

1000 S Main StMountain Home, AR 72653
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Showing Results 1-48, Page 1 of 1

Melbourne, AR Local Guide

Cheapest Available Melbourne Apartments for Rent and Nearby

 

The cheapest available apartment rental in Melbourne, AR is a Studio unit found at Mammoth Spring priced from $425. Breckenridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $475. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mammoth SpringStudioStudio, 1BA$425
Breckenridge ApartmentsBreckenridge - 1 Bed 1 Bath no W/D Hookup1BR, 1BA$475
The Heights ApartmentsSmall StudioStudio, 1BA$475
Sugarloaf StudiosStudioStudio, 1BA$525
Cadron CommonsStudioStudio, 1BA$525
6444 Highway 178 SStudio / KitchenetteStudio, 1BA$650
Shadowbrook Apartments1 Bed 1 Bath1BR, 1BA$730
Park West Senior Apartments1 Bed 1 Bath1BR, 1BA$730
Country Meadows Apartments1.1 Rehab1BR, 1BA$750
Cardinal Apartments2 Bed 2 Bath2BR, 2BA$830

Best Value Apartments for Rent in Melbourne, AR and Nearby

As of September 18, 2026 the best value apartment in the Melbourne area is the $0.80 price per square foot 1302 Model at 2700 Burke Ave starting from $1,200. The second greatest value Melbourne apartment is the Townhomes Model at Magnolia Gardens starting at $1,350 with a $1.05 price per square foot. Here is today’s list of the best values for Melbourne apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
2700 Burke Ave13022BR, 1.5BA$0.80
Magnolia GardensTownhomes2BR, 2.5BA$1.05
The Oak Townhomes2 Bed 1.5 Bath - Morganne Dr2BR, 1.5BA$0.83
Cardinal Apartments2 Bed 2 Bath2BR, 2BA$0.92
Creekside Village Townhomes2 Bedroom Townhome2BR, 1BA$0.99
Shadowbrook Apartments1 Bed 1 Bath1BR, 1BA$1.04
Breckenridge ApartmentsBreckenridge - 2 Bed 1 Bath2BR, 1BA$0.93
Cadron CommonsStudioStudio, 1BA$1.02
Sugarloaf StudiosStudioStudio, 1BA$1.05
The Heights ApartmentsSmall StudioStudio, 1BA$1.06

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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

Explore Melbourne, AR Rentals by Map

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Frequently Asked Questions about Cheap Melbourne Apartments

What is the Cheapest Studio apartment in Melbourne?

Currently the most affordable Cheap Studio Apartment in Melbourne is at Mammoth Spring listed at $425.

How much is rent for a Cheap One Bedroom Melbourne Apartment?

The lowest price for a Cheap One Bedroom Melbourne Apartment is $475 at Breckenridge Apartments.

What is the lowest price for a Cheap Two Bedroom Melbourne Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Melbourne is starting from $565 at Breckenridge Apartments.

Expert Rental Resources

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.