Cheap Homes for Rent in Melbourne, FL from $500 (87 Rentals)

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Search the lowest-cost Homes 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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property at 1041 June Dr

1041 June Dr

MelbourneFL32935

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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property at 1701 Post Rd

1701 Post Rd

MelbourneFL32935

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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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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Melbourne, FL Local Guide

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 06/27/2025

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$99941
Suburban Melbourne$15,000$800332

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a 1 Bed unit found at Malabar Lakes Apartments in the Coastal Brevard neighborhood priced from $1,170. Topaz Village in the Coastal Brevard neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,199. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Malabar Lakes ApartmentsHaven1BR,1BA$1,170
Topaz VillageFlat1BR,1BA$1,199
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
The Harbours ApartmentsNobska1BR,1BA$1,223
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225
Wickham ClubOne Bedroom One Bath1BR,1BA$1,239
Lake PointeBreeze1BR,1BA$1,259

Best Value Apartments for Rent in Melbourne, FL

As of June 27, 2025 the best value apartment in the Melbourne area is the $1.50 price per square foot Palm A Model at Amore Village Townhomes in the in the Coastal Brevard neighborhood starting from $2,195. 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.
Amore Village TownhomesPalm A3BR,2.5BA$1.50
Venue at Viera Senior LivingVilla - Two Bedroom w/Den Two Bath2BR,2BA$1.49
Marin at HarvardB12BR,2BA$1.44
Lakes at SuntreeMagnolia2BR,2BA$1.50
Manatee Cove3x23BR,2BA$1.16
The BrittanyCabana2BR,2BA$1.41
The Haven at West MelbourneB22BR,2BA$1.48
Savannahs at James LandingB2 The Santa Maria - 2 Bedroom, 2 Bathroom2BR,2BA$1.50
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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Frequently Asked Questions about Melbourne

What type of rentals are currently available in Melbourne?

There are currently 314 Apartments for Rent in Melbourne, FL with pricing that ranges from $880 to $5,430. There are also 514 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melbourne ranging from $549 to $15,000.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Melbourne ranges from $549 to $15,000 with an average monthly rent of $4,146.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Melbourne range from $940 to $4,231, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,475 to $6,500. Four Bedroom Single-Family rentals are also available starting from $1,800 and Four Bedroom Apartments start at $940.

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.

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.

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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.