Rents are 14% 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 $1,841 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: October 17, 2026
What the numbers show
March. Asking rents in Melbourne usually run 0.5% below trend in March and 0.5% above it in August, about $18 a month apart at today's median. Based on 11 years of data.
Rent in Melbourne is at its highest level since Zillow's records here began in January 2015.
Rent in Melbourne changed +0.9% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Melbourne rose 44% while median household income rose 37.6% ($48,673 to $66,991). Rent outpaced income.
Rent in Melbourne is 42.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($66,991) is $1,675 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,630); a 2-bedroom is $1,892.
The priciest of 5 ZIP codes in Melbourne, 32940 ($2,253/mo), costs 42% more than the cheapest, 32935 ($1,590/mo).
From Zillow's monthly rent index (ZORI) for Melbourne. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
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 31.8% since 2021, going from about $1,397 per month to roughly $1,841 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.
Discussions about Melbourne
No discussions yet. Start the conversation.
Can you afford rent in Melbourne on your salary?
At $1,841/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: October 17, 2026
The median rent in Melbourne is $1,841/mo as of October 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.
Frequently asked questions
How much income do you need to rent in Melbourne?
Is rent going up or down in Melbourne?
When is the cheapest time to rent in Melbourne?
Has rent outpaced income in Melbourne?
Which Melbourne neighborhoods have the lowest rent?
How does Melbourne rent compare to other cities in Florida?
At $1,841/mo, rent takes ~33% of Melbourne's median household income ($66,991/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Melbourne.
No discussions yet.