Rents are 15% below what Melbourne's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,849 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: August 17, 2026
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Melbourne, FL has changed in 5 years
Rent in Melbourne, FL has climbed 30.9% since 2021, going from about $1,413 per month to roughly $1,849 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 10.3 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.
Discussions about Melbourne
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Can you afford rent in Melbourne on your salary?
At $1,849/mo, how Melbourne rent compares to typical pay (30% rule).
Melbourne rent by bedroom count
Median rent for each apartment size in Melbourne. Click any size for full breakdown.
Tips for renters in Melbourne
Last updated: August 17, 2026
The median rent in Melbourne is $1,849/mo as of August 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 0.1% over the past year.
Frequently asked questions
Is Melbourne an affordable city for renters?
How much income do you need to rent in Melbourne?
Is rent going up or down in Melbourne?
Which Melbourne neighborhoods have the lowest rent?
How does Melbourne rent compare to other cities in Florida?
What percentage of Melbourne residents rent vs. own?
How does Melbourne rent compare to the national average?
At $1,849/mo, rent takes ~33% of Melbourne's median household income ($66,991/yr). The standard benchmark is 30%.
How does this area stack up?
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Estimated from ZIP-level data
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