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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 a population of 31,367, 10,570 total housing units (homes and apartments), and a median house value of $460,284, 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 51.55% of the town's housing units. Other types of housing that are prevalent in Miami Lakes include large apartment complexes or high rise apartments ( 29.07%), row houses and other attached homes ( 17.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.02%).

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 65.05% of Miami Lakes's homes, and 57.58% 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 2000 and later ( 20.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.27%).

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 111.46% over the last ten years, which is an average annual home appreciation rate of 7.78%, 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.

NeighborhoodScout's data show that during the latest twelve months, Miami Lakes's appreciation rate, at 9.99%, has been at or slightly above the national average. In the latest quarter, Miami Lakes's appreciation rate has been 3.42%, which annualizes to a rate of 14.38%.

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:
$460,284

Miami Lakes, FL HOME PRICES

> $1,324,000
1.1%
1.1%
$993,001 - $1,324,000
2.8%
2.8%
$662,001 - $993,000
14.6%
14.6%
$529,001 - $662,000
19.2%
19.2%
$397,001 - $529,000
26.3%
26.3%
$265,001 - $397,000
19.7%
19.7%
$132,001 - $265,000
11.9%
11.9%
$66,001 - $132,000
4.0%
4.0%
$0 - $66,000
0.5%
0.5%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for FL

Value Relative To Nation

Number Of Homes And Apartments:
10,570

Miami Lakes Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
FL*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
205.84% 5.34%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,181 / per month

Homeownership Rate

Owners
65.0%
65.0%
Renters
35.0%
35.0%
Vacant
5.6%
5.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.8%
20.8%
1970 - 1999
62.3%
62.3%
1940 - 1969
16.3%
16.3%
1939 or Older
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
51.5%
51.5%
Townhomes
17.1%
17.1%
Small Apt. Buildings
2.0%
2.0%
Apt. Complexes
29.1%
29.1%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.4%
2.4%
1 Bedroom
11.5%
11.5%
2 Bedrooms
22.8%
22.8%
3 Bedrooms
35.5%
35.5%
4 Bedrooms
22.1%
22.1%
5 or more bedrooms
5.7%
5.7%
0.0% 100.0%
% OF HOMES