Caribbean Isle
2848 Caribbean Isle Blvd,
Melbourne, FL 32935
1-2 Beds | $1,254 - $5,771
Rental Market Trends in Melbourne, FL
What is the average rent in Melbourne, FL?
$1,489/month
Average Rent
727 Sq Ft
Average Apartment Size
+0.6%
Increase in the Last Year
As of March 2025, the average rent in Melbourne, FL is $1,489 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Melbourne rent prices are 5% lower than the national average. When you rent an apartment in Melbourne, you can expect to pay about $1,246 per month for a studio, $1,489 for a one-bedroom apartment, and around $1,707 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,140 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 increased by 0.6%, which averages out to $10 more 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 2025
Legend
2024
2025
Rent Ranges in Melbourne, FL
Last Updated March 2025
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
12%
$700 - $1,000/month
30%
$1,001 - $1,500/month
44%
$1,501 - $2,000/month
11%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Melbourne?
Based on current rent prices, Downtown Melbourne and Suburban Melbourne" 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, Suburban Melbourne and Downtown Melbourne" 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 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 $1,489, you’ll want to make about $4,963 per month or $59,556 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
$775/month
$1,599/month
One Bedroom
$1,349/month
$1,664/month
Two Bedroom
$1,410/month
$1,935/month
Three Bedroom
$1,871/month
$2,254/month
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 2025.
* Percentages may not total 100 due to rounding.