New Apartments for Rent in Miami, FL Under $5,000 (394 Rentals)

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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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Miami's Best Affordable Neighborhoods

Learn about Miami and the best places to live with original content written by our Miami, FL Local Expert Kelly Reising

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Miami, FL Local Guide

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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Getting Around Miami, FL

Walk Score®

71 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

59 / 100

Bikeable

Some bike infrastructure

Transit Score®

40 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Miami, FL Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

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 New Miami Apartments

What is the Cheapest New apartment in Miami?

Currently the most affordable New Apartment in Miami is at Miami Stadium Apartments listed at $510.

How much is the average rent for a New Miami Apartment?

The average rent for a New Apartment in Miami is $3,290.

What is the largest New Miami Apartment for rent?

Today's New apartment with the most square footage in Miami is a 2,935 square feet unit starting from $2,499 at Cortland Midtown Miami.

What is the average size for Miami New Apartments for rent?

The average size for a New rental in Miami is currently at 648 sq ft.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.