Madison Midtown
1023 Gull Ln,
Melbourne, FL 32901
$1,647 - $3,771
1-3 Beds
Rental Market Trends in Melbourne, FL
What is the average rent in Melbourne, FL?
$1,491/month
Average Rent
726 Sq Ft
Average Apartment Size
-0.9%
Decrease in the Last Year
As of March 2026, the average rent in Melbourne, FL is $1,491 per month. For comparison, the national average rent price in the US is currently $1,626/month, which means Melbourne rent prices are 8% lower than the national average. When you rent an apartment in Melbourne, you can expect to pay about $1,234 per month for a studio, $1,491 for a one-bedroom apartment, and around $1,688 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,146 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Melbourne, FL?
In the past year, rent has decreased by 0.9%, which averages out to $13 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Melbourne, FL
Last Updated March 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
13%
$700 - $1,000/month
35%
$1,001 - $1,500/month
42%
$1,501 - $2,000/month
9%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Melbourne?
Based on current rent prices, Southgate, Longwood and James Landing are the most affordable neighborhoods in Melbourne.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Melbourne?
Based on current rent prices, Wickham Lakes, Addison Village and Sonesta Walk are the most expensive neighborhoods in Melbourne.
Neighborhood
Average Rent
Average Sq Ft
Which Melbourne neighborhoods have the most rentals available?
The neighborhoods in Melbourne with the most apartments available are Suburban Melbourne, Addison Village and Downtown Melbourne .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Melbourne, FL?
Because the average rent in Melbourne is $1,491, you’ll want to make about $4,970 per month or $59,640 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Melbourne, FL compare to other nearby cities and neighborhoods?
Use the tool below to compare Melbourne, FL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.