Does a good mic make a difference?

I've been recording raps for fun on my iPhone mic (I know)
I'm not taking it serious but I wan't to make a couple songs, and I'm thinking of spending 200-300 on a mic, When i record with my iphone it makes my voice sound pretty deep, will a good mic balance everything out?

Depending on the mic you get it should balance things out

Dude I've heard local artists on youtube use 30 dollar mics and they're good quality. I don't know how far you want to go/how serious you are so I don't want to force any decision on you, but Imho 200/300 is overkill

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