Cheap Apartments for Rent in Miami, FL from $300 (706 Rentals)

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Search the lowest-cost Apartments available for rent right now in Miami.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 2932 NW 16th Ave

$1,050 - $1,650

Studio To 1 Bedroom Rentals

Available Now

2932 NW 16th Ave

MiamiFL33142

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Miami, FL Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Miami, FL

Pricing Updated: 06/15/2026

Current apartment rentals in the Miami, FL area range in price from $606 to $50,000 with an overall median price of $8,743. The three Miami neighborhoods with the lowest median rent pricing are Mitchell Lake at $1,100, Miramar Isles at $1,200, and Martinique at $606. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Miami Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mitchell Lake$1,825$1,10034
Miramar Isles$2,250$1,20012
Martinique$2,292$6069
Trojan Park$2,300$1,6503
University Park$2,339$1,30016
Biscayne Beach$2,350$1,60022
West Kendall$2,498$1,2009
Goulds$2,500$1,20065
Palmetto Lakes$2,569$800121
Miramar Park$2,596$1,25014

Cheapest Available Miami Apartments for Rent

 

The cheapest available apartment rental in Miami, FL is a 1 Bed unit found at Santa Clara I in the Miami River neighborhood priced from $673. New Arena Square Apartments in the East Little Havana neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $950. Here is today’s list of the most affordable Miami apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Santa Clara I1 Bedroom1BR,1BA$673
New Arena Square Apartments1Bed 1Bath1BR,1BA$950
The Landings at Homestead1 Bedroom1BR,1BA$962
Park CityThe Largo- Income Restrictions1BR,1BA$963
Sharazad0BR/1.0BAStudio,1BA$1,150
The DorianStudioStudio,1BA$1,150
Plum Apartments3/33BR,3BA$1,150

Best Value Apartments for Rent in Miami, FL

As of June 15, 2026 the best value apartment in the Miami area is the $1.30 price per square foot 15600 SW 136th St Model at 15600 SW 136th St, Unit 202 in the in the Outer Kendall neighborhood starting from $2,950. The second greatest value Miami apartment is the 19 NE 48th St Model at 19 NE 48th St, Unit 1 starting at $2,500 with a $1.12 price per square foot in the Downtown Miami neighborhood. Here is today’s list of the best values for Miami apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
15600 SW 136th St, Unit 20215600 SW 136th St3BR,2.5BA$1.30
19 NE 48th St, Unit 119 NE 48th St2BR,1BA$1.12
21 NE 48th St, Unit 221 NE 48th St1BR,1BA$0.90
9249 SW 146th CtMiami Home3BR,2BA$1.06
4th Street Commons4x4 City View4BR,4BA$0.76
Malibu GardensUNIT C3BR,2BA$1.12
New Arena Square Apartments1Bed 1Bath1BR,1BA$1.29
Park CityThe Largo- Income Restrictions1BR,1BA$1.31
The Landings at Homestead1 Bedroom1BR,1BA$1.32
Santa Clara I1 Bedroom1BR,1BA$1.11

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Student Living Made Easy: Great Miami Neighborhoods to Rent Near Campus

A Local Expert’s Guide to Student Friendly Neighborhoods Near Colleges and Universities in Miami. Find your perfect Miami, FL area student apartment, condo, or rental home today at ApartmentHomeliving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Miami Overview

Landing it as one of the top 10 US metro areas in population, the Miami metro area is home to over 5 million people - many of whom are nestled in one of the many options in great apartments in Miami. Not only is Miami a major U. S. city, it's often called the Capital of Latin America, and has more international banks than any other city in this country. Miami is a major player nationally and internationally in the worlds of finance, tourism, biotechnology, medicine and many more industries. And as a thriving global city, Miami offers incredible access to culture and arts, from incredible live performances, first rate museums, a thriving art scene and as one of the world's most exciting centers of fashion. Plus, this city is at the heart of the 'sunshine state,' with beautiful beaches, a booming nightlife and in 2008 Forbes magazine named Miami America's cleanest city based on air quality, access to open spaces, water quality, cleanliness of the streets and the recycling program.

Why live in Miami, FL?

Combining near-perfect temperatures, beautiful ocean views and enough fun in the sun to last a lifetime, apartments in Miami are toted as the cream of the crop of the Florida scene. The largest city in terms of population in the Sunshine State and named a global city due to its stature in the industries of finance, entertainment and commerce, Miami apartments place residents firmly in the center of all that Florida has to offer.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Miami, FL Rentals by Map

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See the most popular apartments and homes in Miami, FL

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Miami, FL Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
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  • Outdoor Access
  • Cost of Living
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Allaire • 4+ years in Miami

May 6, 2025

I'm a native, born and raised. I've seen Miami grow into the international hotspot it's known for. Depending on where you live, transportation may not be that good, but there's never a shortage of things to do and see. It's gotten really expensive to live here, but you can't beat the food, people, events, water, and overall vibe. My advice is to EXPLORE. There are many neighborhoods and communities in Miami that are unknown jewels. It's up to you to find them and your tribe. If you're looking for a cultural explosion, you'll find it here.

Hector • 1+ years in Miami

April 3, 2025

Its expensive to live here, but worth the cost. Lots of great Cuban food and vibe everywhere. Its overcrowded, but its nice here.

Frequently Asked Questions about Cheap Miami Apartments

What is a cheap apartment in Miami?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Miami is under $1,150.

What is the price of a cheap apartment in Miami?

The cheapest apartment in Miami is Santa Clara I which is listed at $673, while the average apartment in Miami costs $8,743.

What types of apartments are the cheapest in Miami?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 7,367 regular apartments in Miami that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Miami?

Cheap apartments in Miami have an average cost of $808 which is $7,935 cheaper than the average rent for all rentals in Miami.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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The 10 Best Affordable Neighborhoods in Miami, FL

Written by: Kelly Reising

I’m Kelly, your ApartmentHomeLiving.com local expert from Miami, Florida. I’ve lived in Miami for a while now, and it’s truly one of the most exciting, vibrant, and beautiful places to live.

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Student Living Made Easy: Great Miami Neighborhoods to Rent Near Campus

Written by: Allaire Williams

Whether you’re starting your first semester or just need a change of scenery, finding the right place to live during college makes a difference.

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Miami Unfiltered: A Born-and-Raised Guide to Where Locals Love to Live

Written by: Allaire Williams

I’m Allaire, your ApartmentHomeLiving.com Local Expert for Miami, Florida, and I’ll start by saying that this city is so much more than the South Beach party scene you see on Instagram and TV.

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Where to Live in Miami When You're Not a Tourist

Written by: Allaire Williams

Let's be real - most Miami guides are written for people who think living here means South Beach penthouses and rooftop parties every night. But if you're moving here for work (not Instagram content), you need the real deal.

Articles, How-To's, and Tips

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.