Melbourne at a glance
- Population: 86,960 residents, the 31st-largest of 411 places in Florida (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 count put the population at 84,714 (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 2.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Florida places: 31st largest of 411 (US Census Bureau).
- Size percentile: about 92% of Florida's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 28.1104, -80.6627 by the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Palm Bay, FL (11 mi); Orlando, FL (42 mi); Port St. Lucie, FL (60 mi); Deltona, FL (64 mi); Lakeland, FL (79 mi) (US Census Bureau populations).
- Nearest smaller places: Melbourne Village, FL (2 mi); West Melbourne, FL (4 mi); Indian Harbour Beach, FL (5 mi) (US Census Bureau estimates).
What a personal loan costs in Melbourne
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Florida lending rules that apply in Melbourne
The table lists the Florida rules that apply to a loan made in Melbourne, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under license (deferred presentment providers; money services business license under chapter 560) Source says: "Businesses intending to engage in deferred presentment transactions must be licensed as a money services business under chapter 560, Florida Statutes". | Florida Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance loan license required (chapter 516) Source says: "A person must not engage in the business of making consumer finance loans ... unless ... the person first obtains a license from the office". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| State lending regulator | Florida Office of Financial Regulation (OFR) Source says: "The Office of Financial Regulation is a state-government agency created by the Governor and Cabinet to provide regulatory oversight for Florida's financial services industry". | Florida Office of Financial Regulation as of 2026-09-16 |
| Deferred presentment fee cap | 10% of the amount provided (transactions not repayable in installments) Source says: "A deferred presentment provider or its affiliate may not charge fees that exceed 10 percent of the currency or payment instrument provided". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 18% per annum simple interest (loans/advances of $500,000 or less; loans above $500,000 are exempt from this cap) Source says: "it shall be usury and unlawful ... to ... charge ... a rate of interest greater than the equivalent of 18 percent per annum simple interest". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
How to compare offers in Melbourne
A few practical steps will make the process in Melbourne less costly:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Florida using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.