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Apartments for Rent in Miami, FL under $900 – 8 Rentals available

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Miami’s average rent reached $1,708 in January

Miami’s average rent reached $1,708 in January, after a 0.1% decrease since last year. A major U.S. business hub and a renter-majority city (67%), Miami is a desirable place to live and work in, with apartment prices above the national average of $1,392. [View Full Report]

Miami apartment rent report

Miami’s average rent was $1,708 in January

Miami’s average rent reached $1,708 in January, after a 0.1% decrease since last year. A major U.S. business hub and a renter-majority city (67%), Miami is a desirable place to live and work in, with apartment prices above the national average of $1,392.

This January, the average rent for an apartment in Miami decreased compared to other surrounding cities, such as Fort Lauderdale, where rents reached $2,010 after a 0.6% increase. Apartment rents in West Palm Beach went up by 4.7% compared to last year, reaching $1,549.

Miami apartment rent report

What it costs to rent in the largest renter hubs in the Miami area

A renter-majority city itself, Miami is surrounded by other cities popular among renters. The city with the largest renter share after Miami is Miami Beach, where renters make up 62% of the city’s population. Miami Beach apartments go for $1,984 on average, which is 0.7% more than last year. After a 2.8% increase, renting in Homestead (60%) averages on $1,320 a month. The average rent in Lake Worth, also with 60% renters, is $1,520 following an increase of 3.8%, while apartments in North Miami (54%) go for around $1,430 per month after a 3.5% increase compared to last January.

The priciest and cheapest cities for renters in the Miami area

Even after a 3.3% decrease, Coral Gables remains the priciest city for renters in the Miami area, with apartments going for $2,544 per month. Weston is the second most expensive with an average rate of $2,127, while Boca Raton's $2,083 average puts it in third place.

Homestead rentals are the most budget-friendly in the Miami area, with an average price of $1,320. For renters in search of more affordable options, next up are Lauderhill rentals, going for $1,338 per month. Lauderdale Lakes apartments are the third least pricey, with a $1,362 monthly average as of January.

Miami apartment rent report

Methodology

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 Population451,214
  • Female 222,273
    Male 228,941
  • Median Age40.2

Average Rent in Miami, FL

  • Miami, FL Average Rental Price, December 2020 $1,697 /mo

    Miami, FL Apartment Rent Ranges

    • $701-$1,0005%
    • $1,001-$1,50032%
    • $1,501-$2,00043%
    • > $2,00020%

    Miami, FL Rent Trends

    Average Rent Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Dec / 2020
    Miami, FL $1,575 $1,604 $1,619 $1,662 $1,666 $1,685 $1,729 $1,703 $1,697 $1,687 $1,697
    National $1,373 $1,378 $1,381 $1,418 $1,428 $1,432 $1,468 $1,475 $1,477 $1,464 $1,462
    /

    Check out the average rent prices in Miami by neighborhood.

    Miami, FL Households

    • Total Number of Households171,036
    • Family 93,120
      Non-family 77,916
    • Children 41,354
      No Children 129,682
    • Average People Per Household2.58
    • Median Household Income$36,638
    • Median Housing Costs Per Month$1,141

    Miami, FL Education Statistics

    • No High School12%
    • Some High School38%
    • Some College17%
    • Associate Degree7%
    • Bachelor Degree16%
    • Graduate Degree10%

    Renting apartments in Miami, FL under $900

    Searching for apartments for rent in Miami, FL under $900 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RENTCafé can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away. In Miami, FL, where the average rent is $841 per month, there are 8 units available for less than $900. Click on any of these units to see pictures, floor plans, amenities and more. After you have picked your favorite, you can contact the property to check availability. Considering that you are trying to spend as little as possible, looking at 1 bedroom apartments and studio apartments might be a good idea.

    We’ll help you find the cheapest rental near you

    Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $900” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Miami, FL. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Miami, FL going for $700 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!