Rent to own Homes in Melbourne, FL

Founded in 1867 by a group of former slaves, the coastal city of Melbourne, Florida, was named in honor of the city's first postmaster, Cornthwaite John Hector, who had lived in the Australian city of the same name. The city's historical buildings include William H. Gleason House on Pineapple Avenue and the Florida Power and Light Company Ice Plant, which is just about the only icy thing in the city, at S Harbor City Blvd.

Melbourne, FL is a great place for affordable rent-to-own homes! With a median household income of over $51,934 and a median rent of $1,087, the Melbourne, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Melbourne, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Melbourne, FL rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
1765 MONITOR ST
Rent To Own
Merritt Island
Single Family Home
Merritt Island, FL 32952
3
2
1854 ft2
1968
1511 TATE ST
Rent To Own
Cocoa
Single Family Home
Cocoa, FL 32922
1
1
559 ft2
1958
1 of 12 1710 University Ln
Rent To Own
Cocoa
Townhouse/Condo
Cocoa, FL 32922
2
2
864 ft2
1984
1901 INDIAN RIVER BLVD #D201
Rent To Own
 
Townhouse/Condo
Vero Beach, FL 32960
2
3
1152 ft2
1975
2748 PLAYER CIR S
Rent to Own Eligible
Greenbriar
Single Family Home
Melbourne, FL 32935
3
2
1068 ft2
1981
2720 KING RICHARD RD
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32935
3
2
1120 ft2
1964
1920 GLEN MEADOWS CIR
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32935
3
2
1892 ft2
1991
2221 BREEZY CIR
Rent to Own Eligible
Misty Way
Single Family Home
Melbourne, FL 32935
3
2
1079 ft2
1991
1 of 95 1802 ST ANDREWS BLVD
Rent to Own Eligible
Suntree
Single Family Home
Melbourne, FL 32940
5
5
3482 ft2
2015
1651 ARTHUR AVE
Rent to Own Eligible
Bowe Gardens
Single Family Home
Melbourne, FL 32935
3
2
988 ft2
1960
3700 PINE CONE RD
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32934
3
2
1922 ft2
1979
1052 TANGLEWOOD LN
Rent to Own Eligible
Rivermont Estates
Single Family Home
Melbourne, FL 32935
3
2
1288 ft2
1957
1 of 11 3135 SHADY DELL LN
Rent to Own Eligible
 
Townhouse/Condo
Melbourne, FL 32935
2
2
1039 ft2
1974
4530 LARIOPE WAY
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32934
4
3
1973 ft2
2006
New
5800 LIVE OAK AVE
Rent to Own Eligible
Melborne Village
Single Family Home
Melbourne, FL 32904
3
2
2094 ft2
2018
1445 Isabella Dr
Rent to Own Eligible
 
Townhouse/Condo
Melbourne, FL 32935
3
2
1606 ft2
2022
2688 MOHICAN DR
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32935
3
2
1315 ft2
1965
1 of 35 2570 Revolution St
Rent to Own Eligible
Lake Washington Townhomes
Townhouse/Condo
Melbourne, FL 32935
2
2
1508 ft2
2008
905 N Harbor City Blvd
Rent to Own Eligible
 
Townhouse/Condo
Melbourne, FL 32935
3
2
1713 ft2
1985
2785 RESTON ST #102
Rent to Own Eligible
Lake Washington Townhomes
Townhouse/Condo
Melbourne, FL 32935
3
3
1467 ft2
2008
2775 REVOLUTION ST #106
Rent to Own Eligible
Lake Washington Townhomes
Townhouse/Condo
Melbourne, FL 32935
3
3
1694 ft2
2009
3329 LAKE VIEW CIR
Rent to Own Eligible
Parkway Meadows
Single Family Home
Melbourne, FL 32934
3
2
2005 ft2
1993
New
258 SAGAMORE ST
Rent to Own Eligible
June Park
Single Family Home
Melbourne, FL 32904
2
1
874 ft2
1958
New
1207 PAWNEE TER
Rent to Own Eligible
Indian Harbour Beach
Single Family Home
Indian Harbour Beach, FL 32937
3
2
1448 ft2
1963
152 KRISTI DR
Rent to Own Eligible
Harbour Villa
Townhouse/Condo
Indian Harbour Beach, FL 32937
3
2
1296 ft2
1980
235 BOSSIEUX BLVD
Rent to Own Eligible
West Melbourne
Single Family Home
Melbourne, FL 32904
3
2
1424 ft2
1954
New
175 SHERWOOD AVE
Rent to Own Eligible
Michigan Beach
Single Family Home
Satellite Beach, FL 32937
4
3
3109 ft2
2002
602 DUNDEE CIR
Rent to Own Eligible
Westwoods
Single Family Home
Melbourne, FL 32904
3
2
2313 ft2
1979
1 of 7 1987 HIGHLAND AVE
Rent to Own Eligible
Pineapple District
Single Family Home
Melbourne, FL 32935
5
4
2700 ft2
2013
134 PALM CIR
Rent to Own Eligible
Palm Shores Estates
Single Family Home
Melbourne, FL 32940
3
2
1244 ft2
1993
4928 FAUNA DR
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32934
3
2
1957 ft2
1984
1 of 211 1437 Pineapple Ave
Rent to Own Eligible
Pineapple District
Townhouse/Condo
Melbourne, FL 32935
3
3
2855 ft2
2007
1800 Noel Pl
Rent to Own Eligible
 
Townhouse/Condo
Melbourne, FL 32935
3
2
1565 ft2
2022
1 of 59 7817 Shadowood Dr
Rent to Own Eligible
Hunters Creek
Townhouse/Condo
Melbourne, FL 32904
2
2
1162 ft2
1984
695 IRONWOOD DR
Rent to Own Eligible
Greentree Park
Single Family Home
Melbourne, FL 32935
3
2
1456 ft2
1963
1 of 23 1488 BEECHFERN DR
Rent to Own Eligible
Eau Gallie West
Townhouse/Condo
Melbourne, FL 32935
3
3
1652 ft2
2000
1 of 69 3157 ARDEN CIR
Rent to Own Eligible
The Arbors At Longleaf
Townhouse/Condo
Melbourne, FL 32934
4
3
2007 ft2
2007
1 of 11 1539 DALLAM AVE NW
Rent to Own Eligible
 
Single Family Home
Palm Bay, FL 32907
3
2
1640 ft2
2003
New
4005 POWELL RD
Rent to Own Eligible
 
Single Family Home
Melbourne, FL 32904
4
3
2454 ft2
1984
132 JOAN PL
Rent to Own Eligible
Paradise Beach
Single Family Home
Indialantic, FL 32903
3
2
1304 ft2
1962
1665 HIGHWAY A1A
Rent to Own Eligible
Eau Gallie By The Sea
Single Family Home
Satellite Beach, FL 32937
4
3
3574 ft2
2001
2775 REVOLUTION ST #103
Rent to Own Eligible
Lake Washington Townhomes
Townhouse/Condo
Melbourne, FL 32935
3
3
1548 ft2
2009
1839 WADENA ST NW
Rent to Own Eligible
 
Single Family Home
Palm Bay, FL 32907
3
2
1773 ft2
1992
1 of 27 7801 Maplewood Dr
Rent to Own Eligible
Hunters Creek
Townhouse/Condo
Melbourne, FL 32904
2
2
1216 ft2
1984
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Buying a Home in Melbourne, FL

Melbourne, FL is seeing rapid growth and Melbourne, FL's' housing market remains optimal with an average home price that is -14% below the 2024 national average. Melbourne, FL is part of Brevard county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Brevard is 0.87% which is below the national average, which is 0.99%.

Median Home Price in Melbourne, FL

Median Rent in Melbourne, FL

Rent to own homes offer low monthly payments and flexible terms.

Top Reasons to Live in Melbourne FL

Housing Statistics 1 in 10 residential properties in Melbourne are currently vacant, with 38% being rented and only 52% being owned. As more people choose to rent to own, this number should increase. The number of house sales from May-July 2013 was 707, which was an increase of 26.5% when compared to the same time last year. The median sales price also increased by 13.4% to $151,900. There are always new homes appearing on the market with a substantial residential turnover rate of 17%.

Transportation 9 out of 10 Melbourne residents either drive or carpool to work, and it takes on average just under 21 minutes. Despite the subsidization of two bus routes for Melbourne residents, very few people take public transport to work - a higher percentage of people choose to walk. Meanwhile the Florida East Coast Railway follows the direction of U.S. 1, providing public transportation up and down the coast.

Local Sports The Florida Institute of Technology fields a team in a number of sports at NCAA Division II level. Known as the Panthers, the school competes in 11 sports each for men and women, including basketball, track and field, and football. While sporting success has tended to elude the school, Dniela Iacobelli did win the NCAA Division II Woman's Golf Championship in 2007. Meanwhile, minor league baseball team the Brevard County Manatees are based not far north of the city in Viera at the Space Coast Stadium. They also had success in 2007, winning their division.

Arts and Culture Cinema lovers will particularly enjoy the yearly Melbourne Independent Filmmakers' Festival, which shines the spotlight on new talent every November, while April signals the arrival of the Melbourne Arts Festival. With over 50,000 visitors attending the festival, it's also an important commercial event for the city, with artists selling original work at their booths. Some people might question whether the beer-centric Oktoberfest can accurately be described as a cultural event, but of course it can, it's European. Now drink up.

Nightlife The high student population and location on the coast means that Melbourne can boast a much better nightlife scene than some other similarly sized cities. Of the dance clubs, Levelz Nightclub on W Newhaven Ave is one of the most popular, with DJs that know how to work an easily excitable crowd and a spacious dance floor that leaves people cool enough to keep moving. The Gallery meanwhile plays a different mix of music depending on the night. So whether you're into hip hop, dubstep or even Latin music, you should find something that gets your feet tapping. If you care more about the drinks than the music, head to Karma Bar on E New Haven, which specializes in cocktails that are just perfect for rounding off a day on the beach.