Apartments for Rent in Miami, FL under $700
19 Rentals Available
Miami’s average rent reached $1,768 in April
Miami’s average rent reached $1,768 in April, after a 2.9% increase since last year. A thriving economic and cultural center and a renter-majority city (67%), Miami is a popular location to call home, with apartment rents above the national average of $1,417. [View Full Report]
Miami’s average rent was $1,768 in April
Miami’s average rent reached $1,768 in April, after a 2.9% increase since last year. A thriving economic and cultural center and a renter-majority city (67%), Miami is a popular location to call home, with apartment rents above the national average of $1,417.
The average rent for an apartment in Miami rose slower than in other surrounding cities, such as Fort Lauderdale ($2,059), where prices went up by 3.1%. Meanwhile, apartment rates in West Palm Beach increased by 9.3%, reaching an $1,641 average.
What it costs to rent in the largest renter hubs in the Miami area
Miami Beach, the city with the largest renter share (62%) after Miami itself, has a $2,064 average rent, after a 3.8% increase. Homestead follows with a 60% renter share and an $1,339 average apartment price (up by 4.8% since last year).
Lake Worth also has a 60% renter share, with apartments going for $1,553 after a 5.4% yearly increase. Last but not least, North Miami's 54% share of renters places it fifth among the area’s renter hubs. The city’s average rent reached $1,440 in April, going up by 2.7% in the past year.
The priciest and cheapest cities for renters in the Miami area
Coral Gables is the priciest city for renters in the Miami area, with apartments renting for $2,709 per month. Weston’s $2,185 rate is the second most expensive, while apartments in Boca Raton ($2,177) come in third.
For renters in search of budget-friendly apartments, Lauderdale Lakes's $1,334 average rent is the cheapest in the Miami area, followed by Homestead's $1,339 rate. Lauderhill rentals are the third least pricey on the list, with a $1,364 average rent as of April.
Miami apartment rents in popular ZIP codes for renters
Among Miami's most popular renter ZIP codes, 33172 has a $1,750 average rent, similar to the city average ($1,768). At the same time, rentals in ZIP 33137 go for $2,236, while prices in ZIP 33186 circle around $1,660. Apartment rents in ZIP 33130 clock in at around $2,255, higher than the Miami average, while rates in ZIP 33132 average at $2,219.
Check out how average rents evolved across the Miami area
RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.
The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.
Miami, FL Demographics
- Total Population454,279
Female 224,810Male 229,469
- Median Age40.1
Average Rent in Miami, FL
- Miami, FL Average Rental Price, August 2021 $1,915 /mo
Miami, FL Apartment Rent Ranges
Miami, FL Rent Trends
|Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Mar / 2020||Jul / 2020||Nov / 2020||Mar / 2021||Jul / 2021||Aug / 2021|
Miami, FL Households
- Total Number of Households176,777
Family 97,010Non-family 79,767
Children 42,502No Children 134,275
- Average People Per Household2.51
- Median Household Income$39,049
- Median Housing Costs Per Month$1,201
Miami, FL Education Statistics
Renting apartments in Miami, FL under $700
Are you looking for a smart space where you can easily combine comfort with convenience? You will surely find the property that perfectly fits your needs with this variety of options. RENTCafé offers you 19 apartments for rent in Miami, FL from 6 modern buildings, so you’ll certainly find something suitable for you. If you want to live alone or with your partner, you might want to look for a studio or browse through our selection of 1 bedroom apartments. If you need more space but you don’t want to spend more than necessary on a monthly rent, check out our 2 bedroom or 3 bedroom apartments for less than $700, and make the most out of your budget.
Finding the best rental near you
Miami, FL is an amazing place to call home, with several rentals under $700 for you to choose from. There are many options and filters you can apply to your search to make the process easier and to find your next apartment faster and more efficiently. Asking yourself ‘are there any cheap apartments near me’? With our helpful filters, you can easily find the home of your dreams that also fits within your budget. With rent prices as low as $429 in Miami, FL, you can find affordable and appealing apartments that match your requirements. Sort your search by ‘Rent’ ascending to see the cheapest ones at the top of the list. As soon as you find your perfect apartment, make sure to contact the property to check for availability or apply online directly on RENTCafé.