Miami Lakes, FL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Miami Lakes Neighborhoods Since 2000




Miami Lakes, FL Real Estate Data


Miami Lakes Housing Market Information

With a population of 30,972, 9,741 total housing units (homes and apartments), and a median house value of $409,648, 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 52.40% of the town's housing units. Other types of housing that are prevalent in Miami Lakes include large apartment complexes or high rise apartments ( 28.55%), row houses and other attached homes ( 15.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.95%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Miami Lakes. Owner-occupied housing accounts for 65.26% of Miami Lakes's homes, and 54.60% have either three or four bedrooms, which is average sized relative to America.

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 1940-1969 ( 17.24%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.26%).

Miami Lakes Home Appreciation Rates

Miami Lakes's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Miami Lakes during the period has been just -0.77%, which is lower than 70% of US communities.

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 8.98%, which is higher than appreciation rates in 95.53% 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 2.59%, which equates to an annual appreciation rate of 10.76%.

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 lower than 50% 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:
$409,648

Miami Lakes, FL HOME PRICES

Value Range
> $1,441,000 1.1
$1,081,001 - $1,441,000 0.5
$721,001 - $1,081,000 6.5
$577,001 - $721,000 13.9
$433,001 - $577,000 20.7
$288,001 - $433,000 28.4
$144,001 - $288,000 23.2
$72,001 - $144,000 2.9
$0 - $72,000 2.9

Very High for FL
Very High for Nation

Value Relative to Nation Value Relative to State
9.22878725771506 16.8803418803419

Number Of Homes And Apartments:
9,741

Rent & Ownership

 

Average Market Rent:
$2,013 / per month

Homeownership Rate

Homeownership
Owners 65.26
Renters 34.74
Vacant 4.54

Housing Market Details

 

Age of Homes

AGE OF Miami Lakes HOMES
2000 or Newer 15.3
1970 - 1999 67.1
1940 - 1969 17.2
1939 or Older 0.5

Types of Homes

TYPE OF Miami Lakes HOMES
Single-Family 52.4
Townhomes 15.1
Small Apt. Buildings 3.9
Apt. Complexes 28.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Miami Lakes HOMES
No Bedroom 2.05
1 Bedroom 10.09
2 Bedrooms 27.24
3 Bedrooms 34.45
4 Bedrooms 20.15
5 or more bedrooms 6.02

Miami Lakes Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
130.55% 5.04% 10 10
* 10 is highest