Cheap Homes for Rent in Melbourne, FL from $600 (89 Rentals)

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Cheap Homes in Melbourne.

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

property at 1041 June Dr

1041 June Dr

MelbourneFL32935

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

property at 6431 Borasco Dr

6431 Borasco Dr

MelbourneFL32940
property at 441 Myrtlewood Rd

441 Myrtlewood Rd

MelbourneFL32940

Melbourne, FL Local Guide

Cheapest Neighborhoods for Apartments in Melbourne, FL

Pricing Updated: 05/03/2025

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$7,500$65036
Suburban Melbourne$15,000$1,000251

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 $1,100. The Reserves of Melbourne in the Suburban Melbourne neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,167. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Lantern Village ApartmentsTwo Bed2BR,1BA$1,100
The Reserves of MelbourneLunar1BR,1BA$1,167
Topaz VillageFlat - Remodel1BR,1BA$1,199
Caribbean Isle1B1BR,1BA$1,222
Meadowdale Apartments1 Bed 1 Bath1BR,1BA$1,224
Stonewood Townhomes1x1R1BR,1BA$1,225
Lake PointeBreeze1BR,1BA$1,245
The Park at Topaz TuscanaVenice1BR,1BA$1,275
Eleven35 ApartmentsOne Bedroom Deluxe1BR,1BA$1,275

Best Value Apartments for Rent in Melbourne, FL

As of May 03, 2025 the best value apartment in the Melbourne area is the $0.49 price per square foot 4x4 Student Apartment Model at Melbourne Commons in the in the South Cove neighborhood starting from $865. The second greatest value Melbourne apartment is the B1 Model at Marin at Harvard starting at $1,875 with a $1.50 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.
Melbourne Commons4x4 Student Apartment4BR,4BA$0.49
Marin at HarvardB12BR,2BA$1.50
Wickham ClubThree Bedroom Two Bath3BR,2BA$1.41
Manatee Cove3x23BR,2BA$1.22
The BrittanyCabana2BR,2BA$1.38
Bridgewater Pointe Apartments2x2 1150 sf2BR,2BA$1.22
Palm Bay ClubB12BR,2BA$1.26
Rivercrest RacquetJunior "B" 2 Bedroom2BR,2BA$1.41
Lantern Village ApartmentsTwo Bed2BR,1BA$1.22
1875 Wabun Street Northeast, Unit Apt A1875 Wabun Street Northeast2BR,1BA$1.41

Quick Rent Budget Calculator

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Frequently Asked Questions about Melbourne

What type of rentals are currently available in Melbourne?

There are currently 308 Apartments for Rent in Melbourne, FL with pricing that ranges from $880 to $6,704. There are also 451 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melbourne ranging from $650 to $22,000.

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 $650 to $22,000 with an average monthly rent of $4,862.

How much are larger Three and Four Bedroom Rentals in Melbourne?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Melbourne range from $1,467 to $6,704, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,475 to $6,500. Four Bedroom Single-Family rentals are also available starting from $1,795 and Four Bedroom Apartments start at $880.

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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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

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.