Cheap Apartments for Rent in Melbourne, IA from $300 (15 Rentals)

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

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17 E Howard St
1 Bedroom Apartments

17 E Howard St

17 E Howard StColfax, IA 50054
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312 Sycamore St
Studio to 3 Bedroom Apartments

312 Sycamore St

312 Sycamore StCambridge, IA 50046
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110 N Maple St
2 Bedroom Apartments

110 N Maple St

110 N Maple StColfax, IA 50054
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Newton Park Apartments
1 to 2 Bedroom Apartments

Newton Park Apartments

1425 N 11th Ave ENewton, IA 50208
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Melbourne, IA Local Guide

Cheapest Available Melbourne Apartments for Rent and Nearby

 

The cheapest available apartment rental in Melbourne, IA is a 1 Bed unit found at The Reserves at South Lake in the East Gate Estates neighborhood priced from $395. The Tallcorn has the second lowest priced unit, which is a 1 Bed apartment currently listed from $475. Here is today’s list of the most affordable Melbourne apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Reserves at South Lake1B1B1BR,1BA$395
The Tallcorn1 bedroom, 1 bath1BR,1BA$475
Hotel Maytag ApartmentsStudioStudio,1BA$650
Woodland Heights1 Bed 1 Bath1BR,1BA$685
Stella Townhomes1 Bedroom 1 Bath1BR,1BA$689

Best Value Apartments for Rent in Melbourne, IA and Nearby

As of April 03, 2025 the best value apartment in the Melbourne area is the $0.65 price per square foot 2BR/2.5BA Model at Copper Beech at Ames in the in the Grand Junction neighborhood starting from $800. The second greatest value Melbourne apartment is the B3 Model at Southern Hills starting at $1,125 with a $0.97 price per square foot . 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.
Copper Beech at Ames2BR/2.5BA2BR,2.5BA$0.65
Southern HillsB32BR,2BA$0.97
The Quarters AmesA - 3x33BR,3BA$0.55
THE ARBORS APARTMENTS2 Bedroom 1 Bathroom2BR,1BA$0.83
The Grove at Ames2BR/2BA2BR,2BA$0.73
Hunters RunB22BR,1BA$0.82
SUNDANCE NEWTON APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$0.97
Stella Townhomes1 Bedroom 1 Bath1BR,1BA$0.96
The Reserves at South Lake1B1B1BR,1BA$0.61
The Tallcorn1 bedroom, 1 bath1BR,1BA$0.78

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Getting Around Melbourne, IA

Walk Score®

8 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

29 / 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

How much is rent for a Cheap One Bedroom Melbourne Apartment?

The lowest price for a Cheap One Bedroom Melbourne Apartment is $395 at The Reserves at South Lake.

What is the lowest price for a Cheap Two Bedroom Melbourne Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Melbourne is starting from $470 at The Reserves at South Lake.

What is the most affordable Melbourne Three Bedroom Apartment?

The best deal on a cheap Melbourne Three Bedroom Apartment rental is at The Reserves at South Lake and starts from $536.

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.

decorative image for Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

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.