Cheap Apartments for Rent in Melbourne, AR from $400 (43 Rentals)

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

property at 89 Moser St

$490 - $525

1 Bedroom Rentals

Available Now

89 Moser St

MelbourneAR72556

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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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.

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White River Commons
Studio to 1 Bedroom Apartments

White River Commons

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

West End Social

1350 Hwy 62 WMountain Home, AR 72653
  • Utilities Included

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.

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Tara Apartments
Studio to 2 Bedroom Apartments

Tara Apartments

1000 S Main StMountain Home, AR 72653
  • Utilities Included
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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.

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Showing Results 1-43, 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
Meadow Lake Apartments2.1 P2BR,1BA$820

Best Value Apartments for Rent in Melbourne, AR and Nearby

As of May 05, 2026 the best value apartment in the Melbourne area is the $0.80 price per square foot 1503 Model at 2700 Burke Ave in the starting from $1,200. The second greatest value Melbourne apartment is the 2 Bed 1.5 Bath - Malerie St Model at The Oak Townhomes starting at $1,000 with a $0.83 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$0.80
The Oak Townhomes2 Bed 1.5 Bath - Malerie St2BR,1.5BA$0.83
Wolf River LodgeThree Bedroom Townhome3BR,2BA$0.82
Creekside Village Townhomes2 Bedroom Townhome2BR,1BA$0.99
207 N 6th St207 N 6th St2BR,1BA$0.75
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

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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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.

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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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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.

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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.

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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.

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

Explore Melbourne, AR Rentals by Map

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See the most popular apartments and homes in Melbourne, AR

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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.

What is the most affordable Melbourne Three Bedroom Apartment?

The best deal on a cheap Melbourne Three Bedroom Apartment rental is at Mountain Station Apartments and starts from $900.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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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.