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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Miami Lakes, FL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Miami Lakes, FL Housing Market Trends

With 30,830 people, 11,073 houses or apartments, and a median cost of homes of $857,200, Miami Lakes house prices are not only among the most expensive in Florida, Miami Lakes real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Miami Lakes, accounting for 52.29% of the town's housing units. Other types of housing that are prevalent in Miami Lakes include large apartment complexes or high rise apartments ( 29.03%), row houses and other attached homes ( 14.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.90%).

The most prevalent building size and type in Miami Lakes are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.82% owning and 36.18% renting.

There is a lot of housing in Miami Lakes built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Miami Lakes built between 2000 and later ( 26.46%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.64%).

Miami Lakes Home Appreciation Rates

In the last 10 years, Miami Lakes has experienced some of the highest home appreciation rates of any community in the nation. Miami Lakes real estate appreciated 146.88% over the last ten years, which is an average annual home appreciation rate of 9.46%, putting Miami Lakes in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Miami Lakes definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Miami Lakes that despite a nationwide downturn in the housing market, Miami Lakes real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Miami Lakes appreciation rates continue to be some of the highest in America, at 15.19%, which is higher than appreciation rates in 97.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Miami Lakes. Miami Lakes appreciation rates in the latest quarter were at 3.44%, which equates to an annual appreciation rate of 14.50%.

Importantly, this makes Miami Lakes one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Florida, our data show that Miami Lakes's latest annual appreciation rate is higher than 90% of the other cities and towns in Florida.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Miami Lakes differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Miami Lakes - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Miami Lakes real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$857,200

Miami Lakes, FL Home Prices
> $1,628,000
$1,221,001 - $1,628,000
$814,001 - $1,221,000
$651,001 - $814,000
$488,001 - $651,000
$326,001 - $488,000
$163,001 - $326,000
$81,001 - $163,000
$0 - $81,000
4.6%
4.6%
7.4%
7.4%
27.4%
27.4%
21.7%
21.7%
17.9%
17.9%
11.6%
11.6%
6.4%
6.4%
2.4%
2.4%
0.5%
0.5%
0% 100.0%
% of Homes
Very High

for Florida

Very High

for nation

Number of Homes And Apartments:

11,073

Miami Lakes Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,634 / per month

Homeownership Rate

Owners
Renters
63.8%
63.8%
36.2%
36.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.2%
4.2%
95.8%
95.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
26.5%
26.5%
56.3%
56.3%
16.6%
16.6%
0.6%
0.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
52.3%
52.3%
14.8%
14.8%
3.9%
3.9%
29.0%
29.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.6%
1.6%
12.4%
12.4%
22.9%
22.9%
37.0%
37.0%
19.0%
19.0%
7.1%
7.1%
0% 100.0%
% of Homes