Cheap Homes for Rent in Melbourne, FL from $700 (124 Rentals)

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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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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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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: 01/26/2026

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
Suburban Melbourne$8,510$920966
Downtown Melbourne$14,986$950205

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a 2 Beds unit found at Palm Bay Club in the South Cove neighborhood priced from $546. Riverview Apartments in the Coastal Brevard neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $950. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Palm Bay ClubB12BR,2BA$546
Riverview ApartmentsStudio ApartmentStudio,1BA$950
Parkway Place1 Bed, 1 Bath1BR,1BA$1,048
StonewoodAbbott1BR,1BA$1,075
Venue at Viera Senior LivingOne Bedroom One Bath (b)1BR,1BA$1,084
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,099
Malabar LakesHaven1BR,1BA$1,160
Lake PointeBreeze1BR,1BA$1,168
The HarboursLa Jumet1BR,1BA$1,182
Reserves of MelbourneLunar1BR,1BA$1,189

Best Value Apartments for Rent in Melbourne, FL

As of January 27, 2026 the best value apartment in the Melbourne area is the $1.18 price per square foot 3 Deluxe Model at Mode at Melbourne in the in the Coastal Brevard neighborhood starting from $2,192. The second greatest value Melbourne apartment is the B1 Model at Marin at Harvard starting at $1,607 with a $1.29 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.
Mode at Melbourne3 Deluxe3BR,2BA$1.18
Marin at HarvardB12BR,2BA$1.29
Sabal Palms ApartmentsEtonia3BR,2.5BA$1.40
Manatee Cove3x23BR,2BA$1.22
The BrittanyVista2BR,1BA$1.33
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Lakeside Glen ApartmentsB1 - 2 Bedroom 2 Bath2BR,2BA$1.34
Palm Bay ClubB12BR,2BA$0.53
Wickham ClubOne Bedroom One Bath1BR,1BA$1.46
Parkway Place1 Bed, 1 Bath1BR,1BA$1.37

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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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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Frequently Asked Questions about Melbourne

What type of rentals are currently available in Melbourne?

There are currently 334 Apartments for Rent in Melbourne, FL with pricing that ranges from $546 to $14,986. There are also 560 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melbourne ranging from $795 to $25,000.

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 $795 to $25,000 with an average monthly rent of $4,856.

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 $1,599 to $6,540, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,377 to $5,350. Four Bedroom Single-Family rentals are also available starting from $1,750 and Four Bedroom Apartments start at $1,789.

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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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.