Cheap Apartments for Rent in Melbourne, AR from $400 (44 Rentals)

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

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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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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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

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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West Towne Apartments
2 Bedroom Apartments

West Towne Apartments

2103 W Beebe Capps ExpySearcy, AR 72143
  • Utilities Included

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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Grand Apartments
1 to 2 Bedroom Apartments

Grand Apartments

38 Wall StMountain Home, AR 72653
  • Utilities Included
Showing Results 1-44, 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 1 Bed unit found at Breckenridge Apartments priced from $545. Meadow Lake Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $675. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Breckenridge ApartmentsBreckenridge - 1 Bed 1 Bath with W/D Hookup1BR,1BA$545
Meadow Lake Apartments1.11BR,1BA$675
Tara Apartments2 bedroom apartment2BR,1BA$725
Country Meadows Apartments2.1.5 Rehab2BR,1BA$840
Grand Oak Place2x12BR,1BA$850
The EllingtonEleanorStudio,1BA$900
The Oak Townhomes2 Bed 1.5 Bath - Morganne Dr2BR,1BA$1,000
2700 Burke Ave15032BR,1BA$1,200
Magnolia GardensTownhomes2BR,2BA$1,299

Best Value Apartments for Rent in Melbourne, AR and Nearby

As of July 27, 2025 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 Triplex Model at Magnolia Gardens starting at $1,435 with a $1.12 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
Magnolia GardensTriplex2BR,2BA$1.12
The Oak Townhomes2 Bed 1.5 Bath - Morganne Dr2BR,1.5BA$0.83
Breckenridge ApartmentsBreckenridge - 2 Bed 2 Bath with W/D Hookup2BR,2BA$0.91
Country Meadows Apartments2.1.5 Rehab2BR,1.5BA$0.94
Tara Apartments2 bedroom apartment2BR,1BA$0.97
Grand Oak Place2x12BR,1BA$1.16
The EllingtonEleanorStudio ,1BA$1.58
Meadow Lake Apartments1.11BR,1BA$1.30
6444 Highway 178 SStudio / kitchenStudio ,1BA$1.35

Quick Rent Budget Calculator

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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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Getting Around Melbourne, AR

Walk Score®

26 / 100

Car-Dependent

Most errands require a car

Bike Score®

24 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 Ellington listed at $900.

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

The lowest price for a Cheap One Bedroom Melbourne Apartment is $545 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

Helpful Apartment Articles, How-To's and Tips

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.