Average Rent in Melbourne, FL (2026)
Typical asking rent in Melbourne is $1,775. Across the 5 ZIP codes with data it runs from $1,564 to $2,180, so which side of town you buy on matters as much as the city average. Data as of June 2026.
Rent by ZIP code in Melbourne
| ZIP code | County | Typical rent | vs city median |
|---|---|---|---|
| 32940 | Brevard County | $2,180 | +23% |
| 32904 | Brevard County | $1,907 | +7% |
| 32934 | Brevard County | $1,775 | 0% |
| 32901 | Brevard County | $1,757 | -1% |
| 32935 | Brevard County | $1,564 | -12% |
How to use these numbers
These are Zillow Observed Rent Index values, a smoothed measure of typical asking rent for single family homes, condos, and apartments in each ZIP code. They describe what units are listed for, not what any specific unit will get. Condition, bedroom count, and the exact block all move the number.
If you are underwriting a purchase, use the ZIP figure rather than the city median, and then verify against live listings for the same bedroom count before you commit. Melbourne sits in the Palm Bay-Melbourne-Titusville, FL metro area.
Other Florida cities
Would a rental in Melbourne cash flow?
Start the analyzer with the Melbourne median rent of $1,775 and add a real purchase price to see cash flow, cap rate, and cash-on-cash return.