Cheap Apartments for Rent in Melbourne, FL from $300 (58 Rentals)

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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.

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property at 1440 Parkway Dr

1440 Parkway Dr

MelbourneFL32935

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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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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Magnolia Apartments
Studio to 1 Bedroom Apartments

Magnolia Apartments

108 W Fee AveMelbourne, FL 32901
  • Utilities Included
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Hickory Pointe
1 to 2 Bedroom Apartments

Hickory Pointe

2700 Carlson CirMelbourne, FL 32901
Senior Living
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Parkway Place
1 to 3 Bedroom Apartments

Parkway Place

3040 Bennett LnMelbourne, FL 32935
  • Utilities Included
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

46 W New Haven AveMelbourne, FL 32901
  • 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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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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Melbourne, FL Local Guide

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Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 12/15/2025

Current apartment rentals in the Melbourne, FL area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Melbourne Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Melbourne$7,750$950284
Suburban Melbourne$9,000$1,0501080

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a 2 Beds unit found at Palm Bay Club in the South Cove neighborhood priced from $546. Riverview Apartments in the Coastal Brevard neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Palm Bay ClubB12BR,2BA$546
Riverview ApartmentsStudio ApartmentStudio,1BA$950
Parkway Place1 Bed, 1 Bath1BR,1BA$1,048
StonewoodOne Bedroom1BR,1BA$1,075
Caribbean Isle1A1BR,1BA$1,079
The Monroe on MontereyA31BR,1BA$1,086
Venue at Viera Senior LivingOne Bedroom One Bath (b)1BR,1BA$1,092
Lake PointeBreeze1BR,1BA$1,134
The HarboursNobska1BR,1BA$1,148
Vetra Indian Harbour BeachE1Studio,1BA$1,199

Best Value Apartments for Rent in Melbourne, FL

As of December 16, 2025 the best value apartment in the Melbourne area is the $1.29 price per square foot Palm B Model at Amore Village Townhomes in the in the Coastal Brevard neighborhood starting from $1,895. The second greatest value Melbourne apartment is the B1 Model at Marin at Harvard starting at $1,570 with a $1.26 price per square foot in the Coastal Brevard neighborhood. 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.
Amore Village TownhomesPalm B3BR,2.5BA$1.29
Marin at HarvardB12BR,2BA$1.26
Sabal Palms ApartmentsEtonia3BR,2.5BA$1.40
The BrittanyCabana2BR,2BA$1.33
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Veridian TownhomesB1 - 2 Bedroom, 1 Bathroom2BR,1.5BA$1.44
Palm Bay ClubB12BR,2BA$0.53
Manatee Cove2x22BR,2BA$1.34
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41
Parkway Place1 Bed, 1 Bath1BR,1BA$1.37

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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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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Melbourne Overview

Located in proximity to the Atlantic Ocean, you will find the sunny city of Melbourne, FL. When you live in one of our Melbourne apartments in this coastal town, having fun golfing, surfing and walking along various lovely beaches are just a small sampling of what you will experience!

Why live in Melbourne, FL?

Tourists love visiting Melbourne because of the warm weather activities including fishing, snorkeling, golfing, hiking and walk along the beach. There are also other attractions such as the Kennedy Space Center as well as the Historic District in the downtown area. Living in one of our apartments in Melbourne will help you be close to all the action, while being able to get away from it all in the comfort of your own perfect spot.

Best Local Schools in
Melbourne, FL

School data provided by Great Schools

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

Explore Melbourne, FL Rentals by Map

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See the most popular apartments and homes in Melbourne, FL

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Getting Around Melbourne, FL

Walk Score®

45 / 100

Car-Dependent

Most errands require a car

Bike Score®

49 / 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 a cheap apartment in Melbourne?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Melbourne is under $1,199.

What is the price of a cheap apartment in Melbourne?

The cheapest apartment in Melbourne is Parkway Place which is listed at $1,048, while the average apartment in Melbourne costs $8,375.

What types of apartments are the cheapest in Melbourne?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 135 regular apartments in Melbourne that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Melbourne?

Cheap apartments in Melbourne have an average cost of $350 which is $8,025 cheaper than the average rent for all rentals in Melbourne.

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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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.