How much does it cost to rent in Melbourne, FL?

As of July 2026, the median monthly rent in Melbourne, FL is $1,862. This figure is based on aggregated data from public sources and community-submitted rents.

Is Melbourne cheaper than other Florida cities?

Melbourne is among the more affordable cities in Florida, ranking #221 out of 288 cities at $1,862/mo.

When was Melbourne rent data last updated?

Melbourne rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Is Melbourne a renter's market or a landlord's market?

Based on RentDataNow's Rent Market Meter, Melbourne is currently a renter's market. Rents are softening (up only 0.9% YoY), so renters have negotiating leverage. The meter is derived from rent-price momentum (year-over-year and month-over-month change), not inventory levels.

City Report · FL

Melbourne

Name: Average Rent Prices in Melbourne, FL
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 778·221st most expensive in Florida·Rental market data updated monthly for Melbourne, FL

Median rent (all units)

$1,862/mo

Year-over-Year

+0.9%

Month-over-Month

-1.9%

vs US Median

-$103

Falling (Monthly)

Be the first to discuss Melbourne rents ↓

Most AffordableMost Expensive

Melbourne · $1,862

More expensive than 50% of US cities · National median $1,965/mo

Rent Reality Score

77/100

Good value

OverheatedFairGreat value

Rents are 14% below what Melbourne's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,862/mo

Expected by trend

$2,157/mo

The Rent Reality Score compares today's median rent to where Melbourne's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,390

1 BR

$1,630

2 BR

$1,892

3 BR

$2,572

4 BR+

$2,946

Research median

$1,892/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$22,344/yr

At $1,862/mo median

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (up only 0.9% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+0.9% YoY, -1.9% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Melbourne, FL is majority owner-occupied, has a large retiree population, 56.5% of residents hold a bachelor's degree or higher.

Population

778

Median income

$66,991

Median age

Renters

11%

Age distribution

15.2%

18.6%

12.5%

42.2%

Under 1815.2%

18–3411.6%

35–5418.6%

55–6412.5%

65+42.2%

Gender

48.3%

51.7%

Male48.3%

Female51.7%

Race & ethnicity

83.2%

White83.2%

Black2.4%

Hispanic8.9%

Asian1.4%

Other4.1%

Education (25+)

13.3%

26.7%

56.5%

No HS diploma3.5%

HS diploma13.3%

Some college26.7%

Bachelor's+56.5%

Housing tenure

89%

Owner89%

Renter11%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Melbourne, FL has changed in 5 years

Rent

$1,413 → $1,862

up 31.8%

Income

$55,543 → $66,991

up 20.6%

Population

83,500 → 778

down 99.1%

Renter share

41.1% → 11%

-30.1 pts

Bachelor's+

31% → 56.5%

+25.5 pts

Median age

42.4 → 60

+17.6 yrs

Rent in Melbourne, FL has climbed 31.8% since 2021, going from about $1,413 per month to roughly $1,862 today. Household income in the area moved from $55,543 to $66,991 across the same window, up 20.6% versus 2021. Rent outpaced income growth by roughly 11.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 83,500 to 778 between 2021 and 2024, a 99.1% change. About 11% of households rent today, against 41.1% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 31% to 56.5%. Reading these numbers side by side helps frame whether current listings in Melbourne, FL look reasonable against where the market sat half a decade ago.

Community

Discussions about Melbourne

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View Melbourne rent history (2015–2026) →

Salary vs rent

Can you afford rent in Melbourne on your salary?

At $1,862/mo, how Melbourne rent compares to typical pay (30% rule).

Registered Nurse

Avg $87,866/yr · Rent = 25.4% income

affordable

Elementary School Teacher

Avg $62,384/yr · Rent = 35.8% income

stretched

Police Officer

Avg $71,861/yr · Rent = 31.1% income

stretched

Software Developer

Avg $128,442/yr · Rent = 17.4% income

very comfortable

Lawyer

Avg $164,117/yr · Rent = 13.6% income

very comfortable

Firefighter

Avg $58,413/yr · Rent = 38.3% income

stretched

Truck Driver

Avg $52,740/yr · Rent = 42.4% income

rent-burdened

Electrician

Avg $65,007/yr · Rent = 34.4% income

stretched

By apartment size

Melbourne rent by bedroom count

Median rent for each apartment size in Melbourne. Click any size for full breakdown.

Local insights

Tips for renters in Melbourne

About renting in Melbourne, FL

Last updated: July 20, 2026

The median rent in Melbourne is $1,862/mo as of July 2026. A studio apartment averages $1,390/mo while a 2-bedroom runs $1,892/mo. One-bedroom apartments average $1,630/mo and 3-bedroom units go for $2,572/mo.

At 33% of local median household income ($66,991/yr), Melbourne ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.9% over the past year.

FAQ

Frequently asked questions

Is Melbourne an affordable city for renters?

Melbourne is considered moderate for renters. At $1,862/mo, rent takes approximately 33% of the local median household income ($66,991/yr). The standard benchmark is 30%. Melbourne slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Melbourne?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (~$36/hour full-time) to afford the median rent of $1,862/mo in Melbourne. The local median household income is $66,991/yr, meaning the typical Melbourne household falls short of that threshold.

Is rent going up or down in Melbourne?

Rent in Melbourne has increased 0.9% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Melbourne neighborhoods have the lowest rent?

The most affordable ZIP codes in Melbourne are 32935 ($1,564/mo), 32901 ($1,757/mo), and 32934 ($1,775/mo). Citywide, the median rent in Melbourne is $1,862/mo.

How does Melbourne rent compare to other cities in Florida?

Melbourne is one of the more affordable cities in Florida for rent, ranking #221 out of 288 tracked cities at $1,862/mo.

What percentage of Melbourne residents rent vs. own?

According to Census data, approximately 11% of Melbourne households are renters, while 89% are owner-occupied. Melbourne leans toward homeownership, which can mean a smaller rental inventory.

How does Melbourne rent compare to the national average?

Melbourne's median rent of $1,862/mo is $103 (5%) below the US national median of $1,965/mo. Within Florida, it ranks #221 out of 288 tracked cities.

Income Affordability

33%

MODERATE

At $1,862/mo, rent takes ~33% of Melbourne's median household income ($66,991/yr). The standard benchmark is 30%.

Melbourne 33%Benchmark 30%

State income taxNone

Run the Melbourne affordability calculator →

Nearby cities