Cheap Apartments for Rent in Melbourne, AR from $400 (35 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

Read Article
close
View Me
White River Commons
Studio to 1 Bedroom Apartments

White River Commons

1325 N Saint LouisBatesville, AR 72501
  • Utilities Included
close
View Me
West End Social
Studio Apartments

West End Social

1350 Hwy 62 WMountain Home, AR 72653
  • Utilities Included
close
View Me
West Towne Apartments
2 Bedroom Apartments

West Towne Apartments

2103 W Beebe Capps ExpySearcy, AR 72143
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article
Showing Results 1-35, 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 The Heights Apartments priced from $450. 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
The Heights ApartmentsSmall StudioStudio,1BA$450
Breckenridge ApartmentsBreckenridge - 1 Bed 1 Bath no W/D Hookup1BR,1BA$475
Cadron CommonsStudioStudio,1BA$545
Sugarloaf StudiosStudioStudio,1BA$575
6444 Highway 178 SStudio / KitchenetteStudio,1BA$650
Mammoth SpringStudioStudio,1BA$675
The Flats Apartments1 Bed 1 Bath1BR,1BA$750
Grand Oak Place2x12BR,1BA$850
The EllingtonEleanorStudio,1BA$900

Best Value Apartments for Rent in Melbourne, AR and Nearby

As of March 20, 2026 the best value apartment in the Melbourne area is the $0.67 price per square foot 1503 Model at 2700 Burke Ave in the starting from $1,000. The second greatest value Melbourne apartment is the Townhomes Model at Magnolia Gardens starting at $1,299 with a $1.01 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 Ave15032BR,1.5BA$0.67
Magnolia GardensTownhomes2BR,2.5BA$1.01
The Oak Townhomes2 Bed 1.5 Bath - Malerie St2BR,1.5BA$0.83
207 N 6th St207 N 6th St2BR,1BA$0.75
Grand Oak Place2x12BR,1BA$1.16
The Flats Apartments1 Bed 1 Bath1BR,1BA$1.15
Breckenridge ApartmentsBreckenridge - 2 Bed 1 Bath2BR,1BA$0.93
Cadron CommonsStudioStudio ,1BA$1.06
Sugarloaf StudiosStudioStudio ,1BA$1.15
The Heights ApartmentsSmall StudioStudio ,1BA$1.00

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

Read Article
Decorative image

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.

Read Article
Decorative image

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
Decorative image

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

Read Article
Decorative image

Quick Rent Budget Calculator

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.

decorative image of people with a giant lease agreement

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

Explore Melbourne, AR Rentals by Map

Decorative image of map

See the most popular apartments and homes in Melbourne, AR

View Map
Melbourne, AR Apartments Map
View Map
Melbourne, AR Rental Homes Map

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 The Heights Apartments listed at $450.

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

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

decorative image for A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.