I mean it really depends on you. If you don't have a car and you are trying to be on South Beach, you need to stay on South Beach. It is worth the money to do that. If you have a car, you can do like I always do every year and drive down from Fort Lauderdale. That is an easier option for me because I live in Fort Lauderdale, but even with that option, I have gotten rooms in South Beach for this weekend because of the convenience, so I suggest you do the same. That weekend is a serious crackdown on seatbelts, loud music and DUI . . . you don't want to be driving long distances and cab fare is real expensive. I looked at those dates on Priceline and they have a 2.5 Star on the Collins Beach Front as the Best Value, with prices averaging around $207. I think that is your target area if you ask me. Maybe you can land something cheap, and though you won't be directly on South Beach (I consider South Beach anything below Lincoln), the traffic and parties star well past your hotel so you will be in the middle of it all. With your budget, you just need a place to lay your head, the room/hotel won't even matter as long as you can shower and sleep . . . everything is popping outside. I have stayed at the Dorchester, which is a 2.5 in the Collins area, and it more than did the job. I am assuming you are going down for the Urban Beach Week on the weekend, if not, and being on South Beach that weekend isn't important, you could always book a room from the 22nd to the 26th on South Beach for much cheaper, and stay in Fort Lauderdale the 27th to the 30th . . . nicer hotels and cheaper prices that way, though you would be away from the party zone that weekend. Depends on you. They will be partying on Las Olas and at Beach Place that weekend as well, just not as crazy and most females actually get turned off by the "grabbing" that goes on in South Beach . . . Fort Lauderdale is actually much smoother if you ask me but South Beach is South Beach and is well known for the Memorial Weekend parties and celebrities.