Miami Lakes renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Miami Lakes is about $1,803 per month. This puts it in the 91st percentile compared to the state average cost of rent, which is $1,453. Households in Miami Lakes have a median income of $8,019 per month so the average renter in Miami Lakes is spending roughly 22% of their earnings on housing.
Nationally, and in Miami Lakes, home values are the data point most closely correlated with the cost of rent. The median price of a home in Miami Lakes is $452,684 right now, which is higher than nearby cities, meaning that rents in Miami Lakes also tend to be higher versus these nearby cities.
Higher rent prices are common in the southern parts of Miami Lakes while lower rent rates are often available in northern areas.
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