Cheap Apartments for Rent in Melbourne, AR from $400 (48 Rentals)

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

property at 89 Moser St

$490 - $495

1 Bedroom Rentals

Available Now

89 Moser St

MelbourneAR72556

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

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 250 Wilson St

$775

1 Bedroom Rentals

Available Now

250 Wilson St

BatesvilleAR72501

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

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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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
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West Towne Apartments
2 Bedroom Apartments

West Towne Apartments

2103 W Beebe Capps ExpySearcy, AR 72143
  • Utilities Included
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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
Meadow Lake Apartments2.1 P2BR,1BA$820
Cardinal Apartments2 Bed 2 Bath2BR,2BA$830

Best Value Apartments for Rent in Melbourne, AR and Nearby

As of August 04, 2026 the best value apartment in the Melbourne area is the $0.80 price per square foot 1302 Model at 2700 Burke Ave in the starting from $1,200. The second greatest value Melbourne apartment is the 2 Bed 1.5 Bath - Morganne Dr 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 Ave13022BR,1.5BA$0.80
The Oak Townhomes2 Bed 1.5 Bath - Morganne Dr2BR,1.5BA$0.83
Park West Patio Homes2 Bed 2 Bath2BR,2BA$0.96
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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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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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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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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.