Cheap Apartments for Rent in the Downtown Melbourne Neighborhood of Melbourne, FL from $700 (7 Rentals)

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

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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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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
  • Utilities Included

Downtown Melbourne, Melbourne, FL Local Guide

Cheapest Available Downtown Melbourne Apartments for Rent

 

The cheapest available apartment rental in the Downtown Melbourne area of Melbourne, FL is a 1 Bed unit found at Windover Palms priced from $1,200. Meadowdale Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,224. Here are the most affordable Downtown Melbourne apartments for rent in Melbourne, FL:

Apartment ListingModel NameBed/BathPriced From
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1,200
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Woodlake Village1 Bed 1 Bath1BR,1BA$1,245

Best Value Apartments for Rent in Downtown Melbourne, FL

As of March 23, 2025 the best value apartment in the Downtown Melbourne area is the $1.38 price per square foot Tantalus Model at Legacy at Hibiscus Park in the in the Coastal Brevard neighborhood starting from $1,947. The second greatest value Downtown Melbourne apartment is the 3x2 Model at Manatee Cove starting at $1,463 with a $1.22 price per square foot in the Coastal Brevard neighborhood. Here is today’s list of the best values for Downtown Melbourne apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Legacy at Hibiscus ParkTantalus3BR,2BA$1.38
Manatee Cove3x23BR,2BA$1.22
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.22
Melbourne Commons2x2 Student Apartment2BR,2BA$0.84
Palm Bay ClubB12BR,2BA$1.24
Meri Palm BayB1R2BR,2BA$1.75
Aqua Palm BayAugustine1BR,1BA$1.71
The Village at MelbourneDove2BR,2BA$1.87
Woodlake Village1 Bed 1 Bath1BR,1BA$1.78
Windover PalmsA1 - 1 Bed / 1 Bath1BR,1BA$1.95

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Pet Friendly Lifestyle

Ranked #

Pet Friendliness Lifestyle Score

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Getting Around the Downtown Melbourne Neighborhood in Melbourne, FL

Walk Score®

68 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

56 / 100

Bikeable

Some bike infrastructure

Frequently Asked Questions about Cheap Downtown Melbourne Apartments

What is the price of a cheap apartment in Downtown Melbourne?

The cheapest apartment in Downtown Melbourne is Windover Palms which is listed at $1,200, while the average apartment in Downtown Melbourne costs $2,200.

What types of apartments are the cheapest in Downtown 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 54 regular apartments in Downtown 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 Downtown Melbourne?

Cheap apartments in Downtown Melbourne have an average cost of $553 which is $1,647 cheaper than the average rent for all rentals in Downtown 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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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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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.