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City · 31,553 residents · Miami-Dade County, Florida

Miami Lakes , Florida

In Miami Lakes, a typical home is worth $626,400 and typical rent is $2,120 a month. Compared with all of Miami-Dade County, typical household income is 42% higher, the typical home value is 35% higher, and the share of households that own their home is 8 points higher.

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  • Typical home value

    $626,400

    35% above the county

    74% above Florida

    • Miami Lakes
    • Miami-Dade
    • Florida

  • Typical rent

    $2,120a month

    16% above the county

    27% above Florida

    • Miami Lakes
    • Miami-Dade
    • Florida

  • Typical household income

    $101,557a year

    42% above the county

    36% above Florida

    • Miami Lakes
    • Miami-Dade
    • Florida

  • Households that own their home

    60%

    8 points above the county

    8 points below Florida

    • Miami Lakes
    • Miami-Dade
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$652,748
1.1% more than 12 months ago
Typical rent
$2,522 a month
1.7% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Miami Lakes is in Miami-Dade County. The FHA loan limit ($667,000 for a one-unit home), the fair market rents and the help on this page are those of all of Miami-Dade County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Miami Lakes apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Opa-locka, the typical home value is $295,800: 53% less than in Miami Lakes ($626,400).

  2. The typical household income in Miami Lakes is $101,557, 42% more than in Miami-Dade County as a whole ($71,753).

  3. Nearby, in Opa-locka, the typical rent is $1,351: 36% less than in Miami Lakes ($2,120).

  4. The typical home in Miami Lakes is worth $626,400, 35% more than in Miami-Dade County as a whole ($463,000).

  5. Miami Lakes has the 28th smallest share of rent-burdened renters of the 434 cities in Florida with more than 5,000 people (45%).

  6. The typical rent in Miami Lakes is $2,120 a month, 16% more than in Miami-Dade County as a whole ($1,829).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Miami Lakes

What homes there are in Miami Lakes, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house rules in Miami Lakes: 50% of homes, more than in Miami-Dade County (39%).

Year built

The typical home in Miami Lakes was built in 1989, 9 years after the typical one in Miami-Dade County.

There is more room for a big family here: 61% of homes have 3 bedrooms or more, against 45% in Miami-Dade County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,163 a month

Miami-Dade County: $2,451 a month

Without a mortgage

$926 a month

Miami-Dade County: $815 a month

Owners with a mortgage

57%

Miami-Dade County: 59%

Owning costs more in Miami Lakes: with a mortgage, the typical cost is $3,163 a month; in Miami-Dade County, $2,451. Without one, $926.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Miami-Dade County, the typical home value in Miami Lakes rose 62% since 2015–2019.

Rents in Miami Lakes rose at about the same pace as in Miami-Dade County: 36% since 2015–2019, against 38%.

While home values in Miami Lakes changed +62% and rent +36%, the typical household income rose 34%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureMiami LakesMiami-Dade CountyFloridaUnited States
Rental vacancy Unreliable estimate5.5%7.6%5.5%
Homeowner vacancy Unreliable estimate1.2%1.4%0.9%
More than one person per room 2.8%7.2%3.3%3.4%
People per household 2.862.762.512.53
Drive alone 75%69%70%69%
Carpool 11%9%9%9%
Public transit Unreliable estimate3%1%3%
Walk or bike Unreliable estimate3%2%3%
Work from home 11%14%16%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate30 to 39 minutes20 to 29 minutes20 to 29 minutes

More than one person per room: that is how 2.8% of households in Miami Lakes live, less than in Miami-Dade County (7.2%).

A household in Miami Lakes has 2.86 people on average, about the same as in Miami-Dade County (2.76).

To get to work, 75% of workers in Miami Lakes drive alone; in Miami-Dade County, 69%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Miami Lakes?

A typical home costs more than the typical income allows

We start with a typical home in Miami Lakes, worth $626,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 60% of the typical household income in Miami Lakes, which is $101,557 a year. For that payment to be 28% of income, a household would need to earn about $219,301 a year.

The calculator's FHA and conventional loan limits are those of all of Miami-Dade County.

Your numbers

Local data
$

Starts at the typical home value in Miami Lakes. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $21,924 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,117

at 7.18% · 30 years

Loan amount
$615,054
Total interest
$884,919
Paid off in
November 2056

Includes $10,578 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,370 a month

  • Tight

    $2,370 to $3,047 a month

  • Hard

    more than $3,047 a month

    Your payment · 60%

Compared with the typical household income in Miami Lakes ($101,557 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,117
Principal & interest$4,167
Property tax$412
Home insurance$261
FHA mortgage insurance (MIP)$277

You need at least $21,924 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Miami Lakes and Miami-Dade County

Miami Lakes is in Miami-Dade County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Miami Lakes's own numbers

Typical home value
$626,400
Typical monthly rent
$2,120
Typical yearly household income
$101,557
Households that own their home
60%
Effective property tax rate
0.79%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Miami-Dade County

FHA limit, one-unit home
$667,000
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,564
Price change over 5 years (FHFA)
+80%
Homes in a high flood-risk zone
40%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Miami-Dade County.

Everything about Miami-Dade County

Buying

Buying a home in Miami Lakes

A typical home in Miami Lakes is worth $626,400: 35% above the county and 74% above Florida. With the typical household income in Miami Lakes ($101,557 a year), a typical home costs 6.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Miami Lakes 6.2 years
  • Miami-Dade 6.5 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Miami-Dade County

According to FHFA’s house price index, home prices in Miami-Dade County rose 148% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Miami-Dade County.

Period County Florida U.S.
Last year (2025) +2.8% −0.5% +2.9%
5 years (2020–2025) +80% +60% +47%
10 years (2015–2025) +148% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Miami Lakes next to Miami-Dade County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Miami Lakes $626,400
  • Miami-Dade $463,000
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Miami Lakes $2,120
  • Miami-Dade $1,829
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Miami Lakes $101,557
  • Miami-Dade $71,753
  • Florida $74,568
  • United States $80,734
See the full table
Miami Lakes next to Miami-Dade County and Florida
Measure Miami Lakes Miami-Dade County Florida U.S.
Typical home value $626,400 $463,000 $359,000 $332,700
Typical monthly rent $2,120 $1,829 $1,669 $1,413
Typical yearly household income $101,557 $71,753 $74,568 $80,734
Households that own their home 60% 52% 68% 65%
Typical yearly property tax $4,965 $3,744 $2,730 $3,119
Effective property tax rate 0.79% 0.81% 0.76% 0.94%
Renters with high rent for their income 45% 64% 60% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Miami-Dade County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Miami Lakes

For a typical $626,400 home in Miami Lakes, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Miami Lakes's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,117a month

    Least cash to close
    Down payment
    $21,924
    Cash to close
    $40,716
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $277

  • Conventional, 5% down $5,002a month

    Down payment
    $31,320
    Cash to close
    $50,112
    Rate
    7.18%
    Mortgage insurance
    PMI · $298

  • Conventional, 20% down, no PMI $4,068a month

    Down payment
    $125,280
    Cash to close
    $144,072
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,647a month

    Down payment
    $93,960
    Cash to close
    $112,752
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Miami Lakes and for Miami-Dade County.

Property tax

Effective rate in Miami Lakes

0.79%of the home’s value each year

$4,965 a year for the typical owner in Miami Lakes.

  • Miami Lakes 0.79%
  • Miami-Dade 0.81%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

Flood risk in Miami-Dade County

FEMA does not publish these numbers by city: they are for all of Miami-Dade County.

Homes in the high-risk zone
40%
199,250
Of those, with NFIP insurance
74%
County Florida U.S.
Homes in the high-risk zone 40% 13% 3.5%
Of those, with NFIP insurance 74% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Miami Lakes

Typical rent in Miami Lakes is $2,120 a month: 16% above the county. In Miami Lakes, 45% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Miami-Dade County, by unit size. To pay the 2-bedroom one ($2,564 a month) without spending more than 30% of your income, you would need to earn $49.31 an hour working full time.

HUD fair market rent for all of Miami-Dade County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,953 $37.56 $78,120
1 bedroom $2,121 $40.79 $84,840
2 bedrooms $2,564 $49.31 $102,560
3 bedrooms $3,277 $63.02 $131,080
4 bedrooms $3,749 $72.10 $149,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Miami Lakes

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Miami Lakes has 2 ZIP codes with their own.

For 2 bedrooms it runs from $2,670 in 33016 to $2,700 in 33014.

2 of the 2 are above the fair market rent for Miami-Dade County ($2,564).

  • 33014 $2,700$3,450
  • 33016 $2,670$3,410

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Miami Lakes when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Miami Lakes

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 11 HUD-approved agencies with an office in Miami-Dade County; 9 say they serve in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Miami Lakes

1 program is for Miami Lakes or Miami-Dade County, by its own record: they come first, each with what its official page says about being open. The ones below are statewide in Florida: they work in Miami Lakes the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Miami Lakes

The HUD-approved agencies closest to the center of Miami Lakes, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Operation Hope Hialeah FL

    1740 W 49th St, Hialeah · 3 miles away · Spanish

    • Mortgage delinquency workshops
    • Budget and financial counseling
    • and 3 more
    (256) 962-5385

  • Opa-Locka Community Development Corporation

    490 Opa Locka Blvd, Opa Locka · 4 miles away

    • Budget and financial counseling
    • Budget and credit workshops
    • and 5 more
    (305) 687-3545

  • Nid-Hca Florida Felton

    610 NW 183rd St, Miami Gardens · 7 miles away · Spanish

    Also serves in Creole.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (305) 652-7616

Every agency in Miami-Dade County All counseling agencies in Florida

Help in Spanish near Miami Lakes

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Miami Lakes

In HUD’s record, no housing authority with an office in Miami-Dade County is named for Miami Lakes or Miami-Dade County.

6 other authorities have an office in Miami-Dade County: see the list Source: HUD

Cities

Other cities in Miami-Dade County

These cities are also in Miami-Dade County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Miami-Dade County Housing in Florida
See 48 more cities in Miami-Dade County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Miami Lakes, with the typical home value.

Neighboring counties

If Miami-Dade County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Miami Lakes.

All guides
A father, a mother and their daughter smile among the avocado trees by their home in Somis, California.

Questions

Housing questions about Miami Lakes

Short answers with the numbers for Miami Lakes and all of Miami-Dade County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Miami Lakes?

The typical home value in Miami Lakes is $626,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Miami-Dade County it is $463,000.

How much does it cost to rent in Miami Lakes?

Typical rent in Miami Lakes is $2,120 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Miami-Dade County is $2,564.

What is the FHA loan limit in Miami Lakes?

Miami Lakes uses the FHA limit for all of Miami-Dade County (2026): $667,000 for a one-unit home and $1,282,700 for a four-unit home.

How much property tax do owners pay in Miami Lakes?

The typical homeowner in Miami Lakes pays $4,965 a year, according to the U.S. Census Bureau. That is 0.79% of the home’s value; in Miami-Dade County, the rate is 0.81%.

Where can I find free help to buy or rent in Miami Lakes?

There are 11 HUD-approved counseling agencies with an office in Miami-Dade County. 9 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).