Melbourne, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Melbourne, Florida rental market.
Melbourne, Florida
Average Apartment Rent
$1,657
Y-o-Y Change in Average
Apartment Rent
-0.4%
As of May 2026
Compared to a year ago, Melbourne, Florida apartments have recorded a -0.4% rent decrease.
Melbourne, Florida Average apartment rent trend
Melbourne, Florida Average Apartment Rent
Melbourne, Florida Apartment rent ranges
At 57.75%, apartments priced $1,500 - $2,000 represent the bulk of Melbourne, Florida rentals, while condos priced Under $1,000 hold the lowest share of the market – 0.01%.
Melbourne, Florida Housing tenure**
Renters take up 41% of Melbourne, Florida real estate, occupying a total of 14,589 units, while homeowners live in 20,849 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$44,845
Average household size of renter-occupied housing units**
2.2
Rental vacancy rate**
6.5%
Melbourne, Florida Renter-occupied housing units by no. of bedrooms**
There are 5,900 rentals in Melbourne, Florida with 2 beds making up the highest share of the market, at 40%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 84 units. Overall, the median number of rooms in Melbourne, Florida homes for rent is 4.
Melbourne, Florida Renter-occupied units by age of householder**
Most condos for rent in Melbourne, Florida are occupied by residents in the 25 - 34 years age group (24%), followed by those in the 35 - 44 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 5%.
Melbourne, Florida Renter-occupied housing units by family type**
Melbourne, Florida Renter-occupied housing units by the presence of own children**
A total of 6,554 apartments for rent in Melbourne, Florida, or 45% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 3,910 units. All in all, the median size of a renter-occupied household in Melbourne, Florida is 2.2.
Melbourne, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 33% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Melbourne, Florida.
Melbourne, Florida Renter-occupied units by year structure built**
The highest share of Melbourne, Florida apartment rentals, namely 28% or 4,131 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (18%, 2,619 units), and the ones Built 1990 - 1999 (15%, 2,150 units).
Melbourne, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Melbourne, Florida renters (44%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Melbourne, Florida condos for rent is 2018.
Melbourne, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Melbourne, Florida renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 15% have No vehicle available.
Melbourne, Florida Means of transportation to work of householders living in renter-occupied housing units**
Melbourne, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Melbourne, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
