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City · 16,888 residents · Miami-Dade County, Florida

Three Lakes , Florida

In Three Lakes, a typical home is worth $481,300 and typical rent is $2,361 a month. Compared with all of Miami-Dade County, typical household income is 43% higher, typical rent is 29% higher, and the share of households that own their home is 14 points higher.

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  • Typical home value

    $481,300

    4% above the county

    34% above Florida

    • Three Lakes
    • Miami-Dade
    • Florida

  • Typical rent

    $2,361a month

    29% above the county

    41% above Florida

    • Three Lakes
    • Miami-Dade
    • Florida

  • Typical household income

    $102,306a year

    43% above the county

    37% above Florida

    • Three Lakes
    • Miami-Dade
    • Florida

  • Households that own their home

    67%

    14 points above the county

    1 points below Florida

    • Three Lakes
    • Miami-Dade
    • Florida

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

Three 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 Three Lakes apart

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

  1. The typical household income in Three Lakes is $102,306, 43% more than in Miami-Dade County as a whole ($71,753).

  2. The typical rent in Three Lakes is $2,361 a month, 29% more than in Miami-Dade County as a whole ($1,829).

  3. Nearby, in Richmond Heights, the typical rent is $1,801: 24% less than in Three Lakes ($2,361).

  4. 67% of households in Three Lakes own their home, against 52% in Miami-Dade County.

  5. Nearby, in Richmond Heights, the typical home value is $378,100: 21% less than in Three Lakes ($481,300).

  6. Three Lakes has the 29th largest share of rent-burdened renters of the 434 cities in Florida with more than 5,000 people (75%).

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

The homes here

Housing in Three Lakes

What homes there are in Three 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

In Three Lakes, 5 in 10 homes are single-family detached houses; in Miami-Dade County, 4.

Year built

The typical home in Three Lakes was built in 1997, 17 years after the typical one 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

$2,533 a month

Miami-Dade County: $2,451 a month

Without a mortgage

$817 a month

Miami-Dade County: $815 a month

Owners with a mortgage

72%

Miami-Dade County: 59%

The typical cost for an owner with a mortgage in Three Lakes is $2,533 a month, near the figure in Miami-Dade County ($2,451).

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

Since 2015–2019, homes in Three Lakes gained value faster than in Miami-Dade County: 64% against 60%.

The typical rent in Three Lakes rose 29% over the same time; in Miami-Dade County, it rose 38%.

While home values in Three Lakes changed +64% and rent +29%, the typical household income rose 51%.

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

MeasureThree 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 Unreliable estimate7.2%3.3%3.4%
People per household 3.162.762.512.53
Drive alone 75%69%70%69%
Carpool 8%9%9%9%
Public transit Unreliable estimate3%1%3%
Walk or bike Unreliable estimate3%2%3%
Work from home 14%14%16%15%
Other means Unreliable estimate2%2%2%
Typical commute 30 to 39 minutes30 to 39 minutes20 to 29 minutes20 to 29 minutes

Households in Three Lakes are bigger: 3.16 people on average; in Miami-Dade County, 2.76.

In Three Lakes, 75% of workers drive alone to work; 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 Three Lakes?

A typical home costs more than the typical income allows

We start with a typical home in Three Lakes, worth $481,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 46% of the typical household income in Three Lakes, which is $102,306 a year. For that payment to be 28% of income, a household would need to earn about $169,877 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 Three 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 $16,846 (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

$3,964

at 7.18% · 30 years

Loan amount
$472,582
Total interest
$679,935
Paid off in
November 2056

Includes $8,128 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,387 a month

  • Tight

    $2,387 to $3,069 a month

  • Hard

    more than $3,069 a month

    Your payment · 46%

Compared with the typical household income in Three Lakes ($102,306 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,964
Principal & interest$3,201
Property tax$349
Home insurance$201
FHA mortgage insurance (MIP)$213

You need at least $16,846 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

Three Lakes and Miami-Dade County

Three 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).

Three Lakes's own numbers

Typical home value
$481,300
Typical monthly rent
$2,361
Typical yearly household income
$102,306
Households that own their home
67%
Effective property tax rate
0.87%

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 Three Lakes

A typical home in Three Lakes is worth $481,300: 4% above the county and 34% above Florida. With the typical household income in Three Lakes ($102,306 a year), a typical home costs 4.7 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.

  • Three Lakes 4.7 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

Three 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
  • Three Lakes $481,300
  • Miami-Dade $463,000
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Three Lakes $2,361
  • Miami-Dade $1,829
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Three Lakes $102,306
  • Miami-Dade $71,753
  • Florida $74,568
  • United States $80,734
See the full table
Three Lakes next to Miami-Dade County and Florida
Measure Three Lakes Miami-Dade County Florida U.S.
Typical home value $481,300 $463,000 $359,000 $332,700
Typical monthly rent $2,361 $1,829 $1,669 $1,413
Typical yearly household income $102,306 $71,753 $74,568 $80,734
Households that own their home 67% 52% 68% 65%
Typical yearly property tax $4,210 $3,744 $2,730 $3,119
Effective property tax rate 0.87% 0.81% 0.76% 0.94%
Renters with high rent for their income 75% 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 Three Lakes

For a typical $481,300 home in Three Lakes, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Three Lakes's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,964a month

    Least cash to close
    Down payment
    $16,846
    Cash to close
    $31,285
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $213

  • Conventional, 5% down $3,876a month

    Down payment
    $24,065
    Cash to close
    $38,504
    Rate
    7.18%
    Mortgage insurance
    PMI · $229

  • Conventional, 20% down, no PMI $3,158a month

    Down payment
    $96,260
    Cash to close
    $110,699
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,603a month

    Down payment
    $72,195
    Cash to close
    $86,634
    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 Three Lakes and for Miami-Dade County.

Property tax

Effective rate in Three Lakes

0.87%of the home’s value each year

$4,210 a year for the typical owner in Three Lakes.

  • Three Lakes 0.87%
  • 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 Three Lakes

Typical rent in Three Lakes is $2,361 a month: 29% above the county. In Three Lakes, 75% 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 Three Lakes

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Three Lakes is in ZIP code 33186.

For 2 bedrooms it is $2,800: $236 more than the fair market rent for Miami-Dade County ($2,564).

  • 33186 $2,800$3,580

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Three 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 Three 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 man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Three Lakes

1 program is for Three 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 Three Lakes the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Three Lakes

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

  • Real Estate, Education and Community Housing, Inc.

    7875 NW 12th St, Doral · 11 miles away · Spanish

    Also serves in Creole.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 5 more
    (786) 260-6821

  • Operation Hope- Homestead FL

    777 N Krome Ave, Homestead · 12 miles away · Spanish

    • Mortgage delinquency workshops
    • Budget and financial counseling
    • and 3 more
    (786) 326-6172

  • Cuban American National Council, Inc. - Miami

    1223 SW 4th St, Miami · 14 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    305-642-3484-182

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

Help in Spanish near Three Lakes

3 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 Three Lakes

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

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Three Lakes

Short answers with the numbers for Three 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 Three Lakes?

The typical home value in Three Lakes is $481,300, 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 Three Lakes?

Typical rent in Three Lakes is $2,361 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 Three Lakes?

Three 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 Three Lakes?

The typical homeowner in Three Lakes pays $4,210 a year, according to the U.S. Census Bureau. That is 0.87% 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 Three 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).