Cheap Homes for Rent in Miami, FL from $500 (423 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Read Article

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

Read Article
property at 1225 NE 124th St

1225 NE 124th St

North MiamiFL33161
Showing Results 1-50, Page 1 of 9

Miami, FL Local Guide

Cheapest Neighborhoods for Apartments in Miami, FL

Pricing Updated: 05/14/2025

Current apartment rentals in the Miami, FL area range in price from $510 to $50,000 with an overall median price of $7,470. The three Miami neighborhoods with the lowest median rent pricing are Embassy Lakes at $1,400, Lakes Of Avalon at $1,500, and Olympia Heights at $1,300. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Miami Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Embassy Lakes$1,400$1,4001
Lakes Of Avalon$1,500$1,5001
Olympia Heights$1,500$1,3001
Virginia Gardens$1,795$1,7501
Country Club Of Miami Estates$2,150$2,1004
Carole Anne Park$2,300$1,2501
Martinique$2,390$1,25017
Lower Hialeah Gardens$2,600$2,0504
Mango Hill$2,679$1,10051
International Gardens$2,760$990110

Cheapest Available Miami Apartments for Rent

 

The cheapest available apartment rental in Miami, FL is a 2 Beds unit found at Santa Clara I in the Miami River neighborhood priced from $743. 4th Street Commons in the Fontainebleau Park West neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $999. Here is today’s list of the most affordable Miami apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Santa Clara I2 Bed 2 Bath2BR,2BA$743
4th Street Commons4x4 Pool View4BR,4BA$999
Coral TerraceStudioStudio,1BA$1,050
Cabana Club1 Bedroom1BR,1BA$1,095
Center Court0 Bedroom 1 BathStudio,1BA$1,135
316 NE 3 St0BR/1.0BAStudio,1BA$1,150
1555 NE 129 ST NORTH MIAMI FLstudioStudio,1BA$1,150
250-252 NE 77th StStudioStudio,1BA$1,195
CabanaCabana1BR,1BA$1,195
Brownsville Village1 Bed 1 Bath Senior1BR,1BA$1,199

Best Value Apartments for Rent in Miami, FL

As of May 14, 2025 the best value apartment in the Miami area is the $0.84 price per square foot 2621 NE 209th St Model at 2621 NE 209th St, Unit 2621 in the in the Downtown Hallandale neighborhood starting from $2,400. The second greatest value Miami apartment is the 2120 NW 93rd St Model at 2120 NW 93rd St, Unit 2120 starting at $3,100 with a $1.12 price per square foot in the Seaboard Industrial Park 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.
2621 NE 209th St, Unit 26212621 NE 209th St2BR,2BA$0.84
2120 NW 93rd St, Unit 21202120 NW 93rd St4BR,2BA$1.12
5881 NW 32nd Ave, Unit 058815881 NW 32nd Ave3BR,2BA$1.11
1320 NE 117th Ter, Unit 11320 NE 117th Ter3BR,2BA$1.15
16182 NE 18th Pl, Unit North Miami Beach Unit16182 NE 18th Pl2BR,1BA$1.14
6039 Collins Ave, Unit 4376039 Collins Ave2BR,2BA$1.25
600 NE 36th St, Unit PH22 Room only600 NE 36th St1BR,1BA$1.15
LapisIbizia A - 3BR/3BA3BR,3BA$1.20
Sawyer’s WalkTwo Bedroom2BR,2BA$1.33
Santa Clara I2 Bed 2 Bath2BR,2BA$0.84

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.

decorative image of people with a giant lease agreement

Miami, FL Area Reviews

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

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 Miami

What type of rentals are currently available in Miami?

There are currently 13476 Apartments for Rent in Miami, FL with pricing that ranges from $510 to $50,000. There are also 7924 Single Family Homes for rent, Condos, and Townhome rentals currently available in Miami ranging from $500 to $100,000.

What is the current price range for Rental Homes in Miami?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Miami ranges from $500 to $100,000 with an average monthly rent of $23,855.

How much are larger Three and Four Bedroom Rentals in Miami?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Miami range from $619 to $30,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $670 to $100,000. Four Bedroom Single-Family rentals are also available starting from $1,200 and Four Bedroom Apartments start at $1,150.

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.

decorative image for The 10 Best Affordable Neighborhoods in Miami, FL article

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.

decorative image for The Freedom of Short-Term Leases: Exploring the Advantages for Renters article

The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

decorative image for Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.