Cheap Apartments for Rent in Melbourne, FL from $300 (51 Rentals)

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

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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: 04/30/2025

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$2,224$88074
Suburban Melbourne$7,450$1,0501116

Cheapest Available Melbourne Apartments for Rent

 

The cheapest available apartment rental in Melbourne, FL is a 2 Beds unit found at Lantern Village Apartments in the Suburban Melbourne neighborhood priced from $1,050. The Reserves of Melbourne in the Suburban Melbourne neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,180. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lantern Village ApartmentsTwo Bed2BR,1BA$1,050
The Reserves of MelbourneLunar1BR,1BA$1,180
Lake PointeBreeze1BR,1BA$1,184
Topaz VillageFlat - Remodel1BR,1BA$1,199
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225
Caribbean Isle1B1BR,1BA$1,228
The Park at Topaz TuscanaVenice1BR,1BA$1,275

Best Value Apartments for Rent in Melbourne, FL

As of April 30, 2025 the best value apartment in the Melbourne area is the $1.50 price per square foot B1 Model at Marin at Harvard in the in the Coastal Brevard neighborhood starting from $1,875. The second greatest value Melbourne apartment is the Three Bedroom Two Bath Model at Wickham Club starting at $1,699 with a $1.41 price per square foot in the Suburban Melbourne 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.
Marin at HarvardB12BR,2BA$1.50
Wickham ClubThree Bedroom Two Bath3BR,2BA$1.41
Manatee Cove3x23BR,2BA$1.22
The BrittanyCabana2BR,2BA$1.36
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.22
Palm Bay ClubB12BR,2BA$1.25
Rivercrest RacquetJunior "B" 2 Bedroom2BR,2BA$1.38
The Park at ParmaTuscany2BR,2BA$1.45
Lantern Village ApartmentsTwo Bed2BR,1BA$1.17
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

Quick Rent Budget Calculator

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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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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

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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 $1,275.

What is the price of a cheap apartment in Melbourne?

The cheapest apartment in Melbourne is The Reserves of Melbourne which is listed at $1,180, while the average apartment in Melbourne costs $4,837.

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 6 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 $759 which is $4,078 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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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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.