Cheap Apartments for Rent in Melbourne, IA from $300 (54 Rentals)

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Search the lowest-cost Apartments available for rent right now in 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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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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Park Place
$1,125 - $1,240
Total Monthly Price

Total Monthly Price

Base Rent
$1,125 - $1,240
Total Monthly Price
$1,125 - $1,240
3 Bedroom Apartments Available Now

Park Place

1010 Washington StMarshalltown, IA 50158
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  • Utilities Included
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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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Stella Townhomes
1 to 4 Bedroom Apartments

Stella Townhomes

1236 Bliss StreetGrinnell, IA 50112
  • Utilities Included
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17 E Howard St
1 Bedroom Apartments

17 E Howard St

17 E Howard StColfax, IA 50054
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The Tallcorn
1 to 2 Bedroom Apartments

The Tallcorn

134 E Main StMarshalltown, IA 50158
  • Utilities Included
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312 Sycamore St
Studio to 3 Bedroom Apartments

312 Sycamore St

312 Sycamore StCambridge, IA 50046
  • Utilities Included
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Newton Park Apartments
1 to 2 Bedroom Apartments

Newton Park Apartments

1425 N 11th Ave ENewton, IA 50208
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309 N 3rd St
1 Bedroom Apartments

309 N 3rd St

309 N 3rd StMarshalltown, IA 50158
  • Utilities Included
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425 McClellan St
1 to 2 Bedroom Apartments

425 McClellan St

425 McClellan StTama, IA 52339
  • Utilities Included

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 919 6th St

$725 - $850

1 Bedroom Rentals

Available Now

919 6th St

NevadaIA50201
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South View Apartments
2 Bedroom Apartments

South View Apartments

209-227 S 5th StAmes, IA 50010
Corporate Housing
  • Utilities Included

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.

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Showing Results 1-50, Page 1 of 2

Melbourne, IA Local Guide

Cheapest Available Melbourne Apartments for Rent and Nearby

 

The cheapest available apartment rental in Melbourne, IA is a 1 Bed unit found at Hubbard Maple Street Apartments priced from $460. The Grove in the Grand Junction neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $599. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hubbard Maple Street Apartments1 BR/1 BA1BR,1BA$460
The Grove3BR/3BA Upgraded3BR,3BA$599
Copper Beech3BR/3BA3BR,3BA$660
110 N Maple St2-bedroom2BR,1BA$700
Hotel Maytag Apartments1 bedroom A1BR,1BA$725
Hunters RunB22BR,1BA$775
Walnut Creek Apartments2 BD Legacy2BR,1BA$800
Southtown ApartmentsB12BR,1BA$801
Grinnell Park Apartments1BR - 30% of Gross Income1BR,1BA$803
Olive Terrace ApartmentsB12BR,1BA$808

Best Value Apartments for Rent in Melbourne, IA and Nearby

As of June 21, 2026 the best value apartment in the Melbourne area is the $0.48 price per square foot 3BR/3BA Upgraded Model at The Grove in the in the Grand Junction neighborhood starting from $599. The second greatest value Melbourne apartment is the 3 Bedroom 2 Bathroom Model at SUNDANCE MARSHALLTOWN APARTMENTS starting at $899 with a $0.97 price per square foot . 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.
The Grove3BR/3BA Upgraded3BR,3BA$0.48
SUNDANCE MARSHALLTOWN APARTMENTS3 Bedroom 2 Bathroom3BR,2BA$0.97
The Landing AmesB1 - 2x22BR,2BA$0.68
Hunters RunB22BR,1BA$0.91
Southtown ApartmentsB12BR,1BA$0.94
Pharaohs ValleyB12BR,1BA$0.98
Olive Terrace ApartmentsB12BR,1BA$0.98
Hotel Maytag Apartments1 bedroom A1BR,1BA$0.90
110 N Maple St2-bedroom2BR,1BA$0.88
Hubbard Maple Street Apartments1 BR/1 BA1BR,1BA$0.75

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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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.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Melbourne, IA Rentals by Map

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Frequently Asked Questions about Cheap Melbourne Apartments

How much is rent for a Cheap One Bedroom Melbourne Apartment?

The lowest price for a Cheap One Bedroom Melbourne Apartment is $460 at Hubbard Maple Street Apartments.

What is the lowest price for a Cheap Two Bedroom Melbourne Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Melbourne is starting from $700 at 110 N Maple St.

What is the most affordable Melbourne Three Bedroom Apartment?

The best deal on a cheap Melbourne Three Bedroom Apartment rental is at The Grove and starts from $599.

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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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.