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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 30,972, 9,794 total housing units (homes and apartments), and a median house value of $376,413, 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 53.05% of the town's housing units. Other types of housing that are prevalent in Miami Lakes include large apartment complexes or high rise apartments ( 27.87%), row houses and other attached homes ( 15.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.60%).
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 65.34% of Miami Lakes's homes, and 55.93% 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 ( 17.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.56%).
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 -1.20%, 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 7.56%, which is higher than appreciation rates in 84.44% 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 1.80%, which equates to an annual appreciation rate of 7.39%.
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 60% 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.
|$1,047,001 - $1,396,000||0.5|
|$698,001 - $1,047,000||7.9|
|$558,001 - $698,000||12.8|
|$419,001 - $558,000||23.3|
|$280,001 - $419,000||23.8|
|$139,001 - $280,000||24.6|
|$70,001 - $139,000||2.9|
|$0 - $70,000||3.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Miami Lakes HOMES|
|2000 or Newer||15.6|
|1970 - 1999||67.1|
|1940 - 1969||17.1|
|1939 or Older||0.2|
|TYPE OF Miami Lakes HOMES|
|Small Apt. Buildings||3.6|
|SIZE OF Miami Lakes HOMES|
|5 or more bedrooms||5.40|