Cheap Apartments for Rent in the Downtown Melbourne Neighborhood of Melbourne, FL from $700 (43 Rentals)

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

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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property at 1002 Brothers Ave.

$1,400 - $1,600

Total Monthly Price

Total Monthly Price

Base Rent
$1,400 - $1,600
Total Monthly Price
$1,400 - $1,600

1 To 2 Bedroom Townhomes for Rent

Available Now

1002 Brothers Ave.

MelbourneFL32901

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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Magnolia Apartments
Studio to 1 Bedroom Apartments

Magnolia Apartments

108 W Fee AveMelbourne, FL 32901
  • Utilities Included
property at 1708 Pine St

$1,000

Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000

1 Bedroom, 1 Bath Home for Rent

Available Now

1708 Pine St, Unit 2, Unit 2

1708 Pine St
MelbourneFL32901
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Hickory Pointe
1 to 2 Bedroom Apartments

Hickory Pointe

2700 Carlson CirMelbourne, FL 32901
Senior Living
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

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

Windover Palms

310 Fitness CirMelbourne, FL 32901

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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Meadowdale Apartments
Studio to 2 Bedroom Apartments

Meadowdale Apartments

248 E University BlvdMelbourne, FL 32901
  • Utilities Included
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Manatee Cove
2 to 3 Bedroom Apartments

Manatee Cove

746 Madelyn WayMelbourne, FL 32901

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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Showing Results 1-43, Page 1 of 1

Downtown Melbourne, Melbourne, FL Local Guide

Cheapest Available Downtown Melbourne Apartments for Rent

 

The cheapest available apartment rental in the Downtown Melbourne area of Melbourne, FL is a Studio unit found at Riverview Apartments priced from $950. Topaz Village has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,199. Here are the most affordable Downtown Melbourne apartments for rent in Melbourne, FL:

Apartment ListingModel NameBed/BathPriced From
Riverview ApartmentsStudio ApartmentStudio,1BA$950
Topaz VillageFlat1BR,1BA$1,199
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Palmview Cove Apartments1 Bed 1 Bath | Classic1BR,1BA$1,325
Legacy at Hibiscus ParkCamerone1BR,1BA$1,330
CompassA21BR,1BA$1,350
Windover PalmsB1 - 2 Bed / 1 Bath2BR,1BA$1,350
Eastshore Palm BaySiesta1BR,1BA$1,406
The Village at MelbourneDove2BR,2BA$1,450
Aqua Palm BayAmelia1BR,1BA$1,459

Best Value Apartments for Rent in Downtown Melbourne, FL

As of April 26, 2026 the best value apartment in the Downtown Melbourne area is the $1.22 price per square foot 3x2 Model at Manatee Cove in the in the Coastal Brevard neighborhood starting from $1,467. The second greatest value Downtown Melbourne apartment is the 2x2 1150 sf Model at Bridgewater Pointe Apartments starting at $1,500 with a $1.30 price per square foot in the Coastal Brevard neighborhood. Here is today’s list of the best values for Downtown Melbourne apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Manatee Cove3x23BR,2BA$1.22
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.30
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Windover PalmsC1 - 3 Bed / 2 Bath3BR,2BA$1.69
616 E New Haven Ave, Unit 3616 E New Haven Ave2BR,1BA$1.84
Legacy at Hibiscus ParkCamerone1BR,1BA$1.53
The Village at MelbourneDove2BR,2BA$1.69
Eastshore Palm BaySiesta1BR,1BA$1.76
Aqua Palm BayAmelia1BR,1BA$1.84
Westshore Palm BayLucine1BR,1BA$1.87

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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Pet Friendly Lifestyle
Downtown Melbourne, Melbourne, FL

Ranked #2

Among cities in Florida for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Downtown Melbourne, Melbourne, FL

School data provided by Great Schools

Frequently Asked Questions about Cheap Downtown Melbourne Apartments

What is the price of a cheap apartment in Downtown Melbourne?

The cheapest apartment in Downtown Melbourne is Topaz Village which is listed at $1,199, while the average apartment in Downtown Melbourne costs $8,468.

What types of apartments are the cheapest in Downtown 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 4 regular apartments in Downtown 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 Downtown Melbourne?

Cheap apartments in Downtown Melbourne have an average cost of $229 which is $8,239 cheaper than the average rent for all rentals in Downtown 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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.