Cheap Homes for Rent in Downtown Melbourne Neighborhood of Melbourne, FL from $900 (11 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article
Showing Results 1-11, 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 1 Bed unit found at Meadowdale Apartments priced from $1,224. Stonewood Townhomes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,225. Here are the most affordable Downtown Melbourne apartments for rent in Melbourne, FL:

Apartment ListingModel NameBed/BathPriced From
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225
Topaz VillageFlat1BR,1BA$1,250
Palm Bay ClubB12BR,2BA$1,262
Legacy at Hibiscus ParkCamerone1BR,1BA$1,375

Best Value Apartments for Rent in Downtown Melbourne, FL

As of May 30, 2025 the best value apartment in the Downtown 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 Downtown Melbourne apartment is the 3x2 Model at Manatee Cove starting at $1,388 with a $1.16 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.
Melbourne Commons4x4 Student Apartment4BR,4BA$0.49
Manatee Cove3x23BR,2BA$1.16
Lake in the WoodsThe Worthington3BR,2.5BA$1.46
Windover PalmsC1 - 3 Bed / 2 Bath3BR,2BA$1.92
Palm Bay ClubB12BR,2BA$1.22
616 E New Haven Ave, Unit 4616 E New Haven Ave2BR,1BA$1.74
Woodlake Village2 Bed 1 Bath2BR,1BA$1.62
Legacy at Hibiscus ParkCamerone1BR,1BA$1.58
The Village at MelbourneDove2BR,2BA$1.74
Westshore Palm BayLucine1BR,1BA$1.93

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.

decorative image of people with a giant lease agreement

Frequently Asked Questions about Downtown Melbourne

What type of rentals are currently available in Downtown Melbourne?

There are currently 69 Apartments for Rent in Downtown Melbourne, FL with pricing that ranges from $880 to $4,077. There are also 46 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Melbourne ranging from $950 to $7,500.

What is the current price range for Rental Homes in Downtown Melbourne?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Melbourne ranges from $950 to $7,500 with an average monthly rent of $2,804.

How much are larger Three and Four Bedroom Rentals in Downtown Melbourne?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Melbourne range from $1,388 to $4,077, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,750 to $3,950. Four Bedroom Single-Family rentals are also available starting from $1,895 and Four Bedroom Apartments start at $880.

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

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

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.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.