Melbourne, FL Rental Market Trends
The average rent for an apartment in Melbourne is $1,129, a 1% increase compared to the previous year, when the average rent was $1,115.
Average Rent in Melbourne, FL
|Average Rent||Y-o-Y Change||Average Apartment Size|
|$1,129||1%||900 sq. ft.|
The average size for a Melbourne, FL apartment is 900 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Melbourne, FL Apartment Rent Ranges
Melbourne, FL Occupied Housing Units
- Renter-occupied Households45%
- Owner-occupied Households54%
15,136 or 45% of the households in Melbourne, FL are renter-occupied while 17,894 or 54% are owner-occupied.
Melbourne, FL Rent Trends
|Mar / 2017||Jul / 2017||Nov / 2017||Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Feb / 2020|
Average Rent in Melbourne, FL By Neighborhood
The most affordable neighborhoods in Melbourne are Palm Shores, where the average rent goes for $1,225/month, June Park, where renters pay $1,307/mo on average, and Melbourne Village, where the average rent goes for $1,307/mo.
The most popular neighborhood in Melbourne is West Melbourne, where there are 3 verified RENTCafé listings with an average rent of $1,307. Next up is June Park, where apartments go for $1,307/month, followed by Melbourne Village with $1,307 If you’re looking to rent in Melbourne’s most popular neighborhoods, make sure to also check out Palm Shores, where renters pay $1,225 on average, and Suntree, where the average monthly rent is $1,447.
Melbourne | Rent Comparison by Neighborhood
Rent in June Park is the same as in Melbourne Village
June Park rent is 16% higher than Melbourne average
Melbourne Village rent is 16% higher than Melbourne average
How Melbourne Compares to Other Cities
|Average Rent||Y-o-Y Change|
For more information about the Melbourne rental trends, check out our monthly rent report
Curious about listings in your area? Check out our apartments near you for more details!