Cheap Apartments for Rent in Melbourne, FL from $300 (52 Rentals)

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

property at 2005 Carlton Dr

2005 Carlton Dr

MelbourneFL32935
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Magnolia Apartments
Studio to 1 Bedroom Apartments

Magnolia Apartments

108 W Fee AveMelbourne, FL 32901
  • Utilities Included
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Palm Harbor Villas
Studio to 2 Bedroom Apartments

Palm Harbor Villas

820 N Wickham RdMelbourne, FL 32935
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Parkway Place
1 to 3 Bedroom Apartments

Parkway Place

3040 Bennett LnMelbourne, FL 32935
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Hickory Pointe
1 to 2 Bedroom Apartments

Hickory Pointe

2700 Carlson CirMelbourne, FL 32901
Senior Living
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Pentagon Gardens
1 to 2 Bedroom Apartments

Pentagon Gardens

46 W New Haven AveMelbourne, FL 32901
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Windover Palms
1 to 3 Bedroom Apartments

Windover Palms

310 Fitness CirMelbourne, FL 32901
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The Highline
1 to 2 Bedroom Apartments

The Highline

635 E New Haven AveMelbourne, FL 32901
Showing Results 1-50, Page 1 of 2

Melbourne, FL Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 04/08/2025

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
Downtown Melbourne$2,200$86582
Suburban Melbourne$7,450$1,0501116

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a Studio unit found at Windwood Apartments in the South Cove neighborhood priced from $1,025. Lantern Village Apartments in the Suburban Melbourne neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $1,050. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Windwood ApartmentsStudio Apartment (Standard)Studio,1BA$1,025
Lantern Village ApartmentsTwo Bed2BR,1BA$1,050
Lake PointeBreeze1BR,1BA$1,158
The Reserves of MelbourneLunar1BR,1BA$1,195
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
Malabar Lakes ApartmentsHaven1BR,1BA$1,223
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225

Best Value Apartments for Rent in Melbourne, FL

As of April 09, 2025 the best value apartment in the Melbourne area is the $1.37 price per square foot Tantalus Model at Legacy at Hibiscus Park in the in the Coastal Brevard neighborhood starting from $1,933. The second greatest value Melbourne apartment is the Cabana Model at The Brittany starting at $1,570 with a $1.31 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.
Legacy at Hibiscus ParkTantalus3BR,2BA$1.37
The BrittanyCabana2BR,2BA$1.31
10X Harbour BayB12BR,2BA$1.31
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.22
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Palm Bay ClubB12BR,2BA$1.31
Topaz VillageCottage Townhome - Remodel2BR,1.5BA$1.47
Manatee Cove2x22BR,2BA$1.34
Lantern Village ApartmentsTwo Bed2BR,1BA$1.17
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

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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Melbourne Overview

Located in proximity to the Atlantic Ocean, you will find the sunny city of Melbourne, FL. When you live in one of our Melbourne apartments in this coastal town, having fun golfing, surfing and walking along various lovely beaches are just a small sampling of what you will experience!

Why live in Melbourne, FL?

Tourists love visiting Melbourne because of the warm weather activities including fishing, snorkeling, golfing, hiking and walk along the beach. There are also other attractions such as the Kennedy Space Center as well as the Historic District in the downtown area. Living in one of our apartments in Melbourne will help you be close to all the action, while being able to get away from it all in the comfort of your own perfect spot.

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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Getting Around Melbourne, FL

Walk Score®

45 / 100

Car-Dependent

Most errands require a car

Bike Score®

49 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Melbourne Apartments

What is a cheap apartment in Melbourne?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Melbourne is under $1,225.

What is the price of a cheap apartment in Melbourne?

The cheapest apartment in Melbourne is Lake Pointe which is listed at $1,158, while the average apartment in Melbourne costs $4,825.

What types of apartments are the cheapest in Melbourne?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 16 regular apartments in Melbourne that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Melbourne?

Cheap apartments in Melbourne have an average cost of $533 which is $4,292 cheaper than the average rent for all rentals in Melbourne.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.