Cheap Apartments for Rent in Melbourne, IA from $300 (39 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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.

Read Article

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
close
View Me
Stella Townhomes
1 to 4 Bedroom Apartments

Stella Townhomes

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

17 E Howard St

17 E Howard StColfax, IA 50054
  • Utilities Included
close
View Me
The Tallcorn
1 to 2 Bedroom Apartments

The Tallcorn

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

312 Sycamore St

312 Sycamore StCambridge, IA 50046
  • Utilities Included

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.

Read Article
close
View Me
110 N Maple St
2 Bedroom Apartments

110 N Maple St

110 N Maple StColfax, IA 50054
  • Utilities Included
close
View Me
309 N 3rd St
1 Bedroom Apartments

309 N 3rd St

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

425 McClellan St

425 McClellan StTama, IA 52339
  • Utilities Included
close
View Me
Newton Park Apartments
1 to 2 Bedroom Apartments

Newton Park Apartments

1425 N 11th Ave ENewton, IA 50208
  • 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.

Read Article
property at 919 6th St

$750 - $850

1 Bedroom Rentals

Available Now

919 6th St

NevadaIA50201
Showing Results 1-39, Page 1 of 1

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. Copper Beech in the South Ames neighborhood has the second lowest priced unit, which is a 3 Beds apartment currently listed from $660. 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
Copper Beech3BR/3BA3BR,3BA$660
Brookview TerraceA11BR,1BA$683
Hotel Maytag Apartments1 bedroom A1BR,1BA$725
Northridge Apartments2 BR/ 1 BA2BR,1BA$800
SUNDANCE NEWTON APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$805
SUNDANCE MARSHALLTOWN APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$809
409 4th St NE2BR 1BA2BR,1BA$810
Woodland Heights3 Bed 2 Bath3BR,2BA$820
THE ARBORS APARTMENTS2 Bedroom 1 Bathroom2BR,1BA$825

Best Value Apartments for Rent in Melbourne, IA and Nearby

As of May 07, 2026 the best value apartment in the Melbourne area is the $0.83 price per square foot 2 Bedroom 1 Bathroom Model at THE ARBORS APARTMENTS in the in the East Gate Estates neighborhood starting from $825. The second greatest value Melbourne apartment is the 2BR/2BA Model at The Grove starting at $735 with a $0.77 price per square foot in the Grand Junction 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.
THE ARBORS APARTMENTS2 Bedroom 1 Bathroom2BR,1BA$0.83
The Grove2BR/2BA2BR,2BA$0.77
The Landing AmesB1 - 2x22BR,2BA$0.68
Northridge Apartments2 BR/ 1 BA2BR,1BA$0.89
Walnut Creek Apartments2 BD Legacy2BR,1BA$1.00
SUNDANCE MARSHALLTOWN APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$0.97
SUNDANCE NEWTON APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$0.97
Hotel Maytag Apartments1 bedroom A1BR,1BA$0.90
Woodland Heights2 Bed 1 Bath2BR,1BA$1.04
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.

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

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

Explore Melbourne, IA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Melbourne, IA

View Map
Melbourne, IA Apartments Map
View Map
Melbourne, IA Rental Homes Map

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 $800 at Northridge Apartments.

What is the most affordable Melbourne Three Bedroom Apartment?

The best deal on a cheap Melbourne Three Bedroom Apartment rental is at Copper Beech and starts from $660.

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 A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.