Cheap Homes for Rent near Melbourne, KY from $900 (12 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Done

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

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.

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.

Melbourne, KY Local Guide

Cheapest Available Melbourne Apartments for Rent and Nearby

 

The cheapest available apartment rental in Melbourne, KY is a Studio unit found at Mary Ingles Place in the California neighborhood priced from $615. The Manor in the California neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Mary Ingles PlaceSTUDIOStudio,1BA$615
The ManorThe Manor1BR,1BA$800
Riverstone Court Apartments1 Bedroom 1 Bathroom1BR,1BA$870
Arborstone ApartmentsOne Bed1BR,1BA$899
2351 Beechmont Ave.1 Bed1BR,1BA$899

Best Value Apartments for Rent in Melbourne, KY and Nearby

As of July 25, 2026 the best value apartment in the Melbourne area is the $1.34 price per square foot 3x2.5 Model at Anderson Grove Townhomes in the in the Liberty Crossing neighborhood starting from $2,350. The second greatest value Melbourne apartment is the 3 Bedroom, 1.5 Bath Duplex 1,200SqFt Model at Norse Landing starting at $1,615 with a $1.35 price per square foot in the Campbell County 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.
Anderson Grove Townhomes3x2.53BR,2.5BA$1.34
Norse Landing3 Bedroom, 1.5 Bath Duplex 1,200SqFt3BR,1.5BA$1.35
Stone Creek ApartmentsBrand New Renovated Two Bedrooms2BR,1BA$1.33
1809-1813 Mears Ave2bed, 2bath2BR,2BA$1.05
Washington House ApartmentsTwo Bedroom2BR,1BA$1.33
Mears Place Apartments2 Bedroom 1.5 Bathroom2BR,1.5BA$1.38
2500 Place2BR Davenport2BR,1.5BA$1.26
Harbour Cove ApartmentsSmall/ 2 Bedroom2BR,1BA$1.38
The ManorThe Manor1BR,1BA$1.07
2351 Beechmont Ave.54621BR,1BA$1.41

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, KY Rentals by Map

View Map
Melbourne, KY Apartments Map
View Map
Melbourne, KY Rental Homes Map

Frequently Asked Questions about Melbourne

What type of rentals are currently available in Melbourne?

There are currently 54 Apartments for Rent in Melbourne, KY with pricing that ranges from $615 to $3,200. There are also 43 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melbourne ranging from $985 to $8,995.

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 $985 to $8,995 with an average monthly rent of $2,074.

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 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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention   article

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.