Cheap Homes for Rent in Melbourne, FL from $700 (145 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 1055 Venetian Dr

$840

Total Monthly Price

Total Monthly Price

Base Rent
$840
Total Monthly Price
$840

3 Bedroom, 2 Bath Townhome for Rent

Available Now

1055 Venetian Dr

MelbourneFL32904
property at 2779 Patty Ln

$1,100

1 Bedroom Rentals

Available Now

2779 Patty Ln

MelbourneFL32935

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

Read Article
property at 3135 Shady Dell Ln

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 2 Bath Condo for Rent

Available Now

3135 Shady Dell Ln, Unit 233

3135 Shady Dell Ln
MelbourneFL32935
property at 1530 Windward Dr

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

1 Bedroom, 1 Bath Home for Rent

Available Now

1530 Windward Dr

MelbourneFL32935

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
property at 1123 Tree Ridge Ln NE

$1,350

Total Monthly Price

Total Monthly Price

Base Rent
$1,350
Total Monthly Price
$1,350

2 Bedroom, 1 Bath Condo for Rent

Available Now

1123 Tree Ridge Ln NE

Palm BayFL32905

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

Read Article
property at 1701 Post Rd

$1,375

Total Monthly Price

Total Monthly Price

Base Rent
$1,375
Total Monthly Price
$1,375

1 Bedroom, 1 Bath Home for Rent

Available Now

1701 Post Rd

MelbourneFL32935
property at 1002 Brothers Ave.

$1,400 - $1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,400 - $1,500
Total Monthly Price
$1,400 - $1,500

1 To 2 Bedroom Townhomes for Rent

Available Now

1002 Brothers Ave.

MelbourneFL32901

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.

Read Article
property at 1776 Sophias Dr

$1,300 - $1,400

1 Bedroom Rentals

Available Now

1776 Sophias Dr

MelbourneFL32940

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.

Read Article
Showing Results 1-50, Page 1 of 3

Melbourne, FL Local Guide

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 08/18/2026

Current apartment rentals in the Melbourne, FL area range in price from $900 to $21,666 with an overall median price of $1,792. Here is today’s list neighborhoods with the lowest median pricing for Melbourne Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Melbourne$1,657$90094
Suburban Melbourne$1,810$1,013691

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a Studio unit found at Vetra Indian Harbour Beach in the Coastal Brevard neighborhood priced from $1,002. The Harbours in the Melbourne neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,041. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vetra Indian Harbour BeachE1Studio,1BA$1,002
The HarboursNobska1BR,1BA$1,041
Parkway Place1 Bed, 1 Bath1BR,1BA$1,042
Park VillageLaketree1BR,1BA$1,087
Venue at Viera Senior LivingOne Bedroom One Bath (b)1BR,1BA$1,096
Meadowdale ApartmentsStudioStudio,1BA$1,099
Topaz CayMessina1BR,1BA$1,124
The Teale New HavenAStudio,1BA$1,125
Topaz VillageSuite1BR,1BA$1,175
The Monroe on MontereyA11BR,1BA$1,212

Best Value Apartments for Rent in Melbourne, FL

As of August 18, 2026 the best value apartment in the Melbourne area is the $0.86 price per square foot 2865 Kirby Cir NE Model at 2865 Kirby Cir NE, Unit UnitA in the in the South Cove neighborhood starting from $1,550. The second greatest value Melbourne apartment is the Tantalus Model at Legacy at Hibiscus Park starting at $1,956 with a $1.39 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.
2865 Kirby Cir NE, Unit UnitA2865 Kirby Cir NE3BR,2BA$0.86
Legacy at Hibiscus ParkTantalus3BR,2BA$1.39
Marin at HarvardB12BR,2BA$1.26
Mode at Melbourne1 Deluxe1BR,1BA$1.31
Wickham ClubThree Bedroom Two Bath3BR,2BA$1.40
Manatee Cove3x23BR,2BA$1.22
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Azara Palm BayB12BR,2BA$1.39
The Park at ParmaTuscany2BR,2BA$1.40
Parkway Place1 Bed, 1 Bath1BR,1BA$1.36

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.

Read Article
Decorative image

Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

Read Article
Decorative image

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

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

Decorative image of map

See the most popular apartments and homes in Melbourne, FL

View Map
Melbourne, FL Apartments Map
View Map
Melbourne, FL Rental Homes Map

Frequently Asked Questions about Melbourne

What type of rentals are currently available in Melbourne?

There are currently 326 Apartments for Rent in Melbourne, FL with pricing that ranges from $750 to $11,016. There are also 411 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melbourne ranging from $700 to $30,000.

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 $700 to $30,000 with an average monthly rent of $2,396.

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 $1,550 to $5,024, while Three Bedroom Homes, Condos, and Townhomes for rent range from $840 to $8,000. Four Bedroom Single-Family rentals are also available starting from $1,935 and Four Bedroom Apartments start at $1,850.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.