Miami Lakes, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Miami Lakes, Florida rental market.
Highlights
An apartment for rent in Miami Lakes, Florida typically goes for $2,268 per month, while a single-family home for rent in Miami Lakes, Florida has a monthly cost of around $4,268. Renter-occupied units make up 36% of the local housing market, while the rental vacancy rate in Miami Lakes, Florida is at 3.4.
Miami Lakes, Florida
Average Apartment Rent
$2,268
Y-o-Y Change in Average
Apartment Rent
5.6%
Average Single-Family Rent
$4,268
As of July 2024
Compared to a year ago, Miami Lakes, Florida apartments have recorded a 5.6% rent increase.
Miami Lakes, Florida |Average apartment rent trend
Miami Lakes, Florida| Average apartment rent
Miami Lakes, Florida | Apartment rent ranges
At 62.91%, apartments priced Over $2,000 represent the bulk of Miami Lakes, Florida rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 4.1%.
Miami Lakes, Florida | Housing tenure**
Renters take up 36% of Miami Lakes, Florida real estate, occupying a total of 3,996 units, while homeowners live in 7,077 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$81,726
Average household size of renter-occupied housing units**
2.57
Rental vacancy rate**
3.4%
Miami Lakes, Florida | Renter-occupied housing units by no. of bedrooms**
There are 1,810 rentals in Miami Lakes, Florida with 2 beds making up the highest share of the market, at 45%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 35 units. Overall, the median number of rooms in Miami Lakes, Florida homes for rent is 4.
Miami Lakes, Florida |Renter-occupied units by age of householder**
Most condos for rent in Miami Lakes, Florida are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 45 - 54 years age group (24%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Miami Lakes, Florida | Renter-occupied housing units by family type**
Miami Lakes, Florida | Renter-occupied housing units by the presence of own children**
A total of 2,398 apartments for rent in Miami Lakes, Florida, or 60% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 1,413 units. All in all, the median size of a renter-occupied household in Miami Lakes, Florida is 2.57.
Miami Lakes, Florida | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 41% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Miami Lakes, Florida.
Miami Lakes, Florida | Renter-occupied units by year structure built**
The highest share of Miami Lakes, Florida apartment rentals, namely 25% or 1,006 units, were Built 1980 - 1989, followed by those Built 1990 - 1999 (24%, 944 units), and the ones Built 1970 - 1979 (17%, 667 units).
Miami Lakes, Florida | Renter-occupied units by year householder moved in**
Median year renter moved into unit2018
Most Miami Lakes, Florida renters (47%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Miami Lakes, Florida condos for rent is 2018.
Miami Lakes, Florida | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 40% of Miami Lakes, Florida renters have 2 vehicles available per household, 40% of them have 1 vehicle available, and 12% have 3 vehicles available.
Miami Lakes, Florida | Means of transportation to work of householders living in renter-occupied housing units**
Miami Lakes, Florida |Geographical mobility in the past year for householders living in renter-occupied housing units**
Miami Lakes, Florida | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Miami Lakes, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates