Cheap Apartments for Rent in Melbourne, FL from $300 (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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Magnolia Apartments
Studio to 1 Bedroom Apartments

Magnolia Apartments

108 W Fee AveMelbourne, FL 32901
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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
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

46 W New Haven AveMelbourne, FL 32901
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Windover Palms
1 to 3 Bedroom Apartments

Windover Palms

310 Fitness CirMelbourne, FL 32901

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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The Highline
1 to 2 Bedroom Apartments

The Highline

635 E New Haven AveMelbourne, FL 32901

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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The Pines Apartments
1 to 2 Bedroom Apartments

The Pines Apartments

3016 Pinewood Dr NEPalm Bay, FL 32905
  • Utilities Included
Showing Results 1-44, Page 1 of 1

Melbourne, FL Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 06/13/2025

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$3,500$880175
Suburban Melbourne$5,757$8801011

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a 1 Bed unit found at Lake Pointe in the Suburban Melbourne neighborhood priced from $1,138. The Reserves of Melbourne in the Suburban Melbourne neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,173. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lake PointeBreeze1BR,1BA$1,138
The Reserves of MelbourneLunar1BR,1BA$1,173
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225
Eleven35 ApartmentsOne Bedroom1BR,1BA$1,225
The Harbours ApartmentsLa Jumet1BR,1BA$1,239
Topaz VillageFlat1BR,1BA$1,250

Best Value Apartments for Rent in Melbourne, FL

As of June 13, 2025 the best value apartment in the Melbourne area is the $0.49 price per square foot 4x4 Student Apartment Model at Melbourne Commons in the in the South Cove neighborhood starting from $865. The second greatest value Melbourne apartment is the Villa - Two Bedroom w/Den Two Bath Model at Venue at Viera Senior Living starting at $1,899 with a $1.49 price per square foot in the Suburban Melbourne 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.
Melbourne Commons4x4 Student Apartment4BR,4BA$0.49
Venue at Viera Senior LivingVilla - Two Bedroom w/Den Two Bath2BR,2BA$1.49
TrilliumThree Bedroom Apartment3BR,2BA$1.51
Marin at HarvardB12BR,2BA$1.53
Manatee Cove3x23BR,2BA$1.16
The BrittanyCabana2BR,2BA$1.44
Wickham ClubTwo Bedroom Two Bath2BR,2BA$1.27
Lakeside Glen ApartmentsB1 - 2 Bedroom 2 Bath2BR,2BA$1.49
Palm Bay ClubB12BR,2BA$1.22
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

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 $1,250.

What is the price of a cheap apartment in Melbourne?

The cheapest apartment in Melbourne is Lake Pointe which is listed at $1,121, while the average apartment in Melbourne costs $4,628.

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 14 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 $424 which is $4,204 cheaper than the average rent for all rentals in Melbourne.

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.