Miami Lakes, FL

Very High · 156

Florida · Population 30,731 · Updated March 2026

$2,024
Median Rent / Month
$97,255
Median Income
$577,300
Median Home Value
$1,954
Owner Costs / Month

Affordability

How far your income goes in Miami Lakes

25.0%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$24,288
Annual Rent
$0
State Income Tax
$4,965
Property Tax (est.)

Cost of Living Overview

Miami Lakes has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 156 (where 100 equals the national median), Miami Lakes residents can expect to pay median rent of $2,024/month while earning a median household income of $97,255/year.

The median home value in Miami Lakes, FL is $577,300, with typical monthly owner costs around $1,954 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.0%, Miami Lakes falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Miami Lakes.

Frequently Asked Questions

Common questions about living costs in Miami Lakes

What is the cost of living in Miami Lakes, FL?
The cost of living index in Miami Lakes, FL is 156 (US average = 100). Median monthly rent is $2,024, median household income is $97,255/year, and the median home value is $577,300.
Is Miami Lakes, FL affordable?
No, Miami Lakes is more expensive than the national average with a cost index of 156. The rent-to-income ratio is 25.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Miami Lakes, FL?
The median gross rent in Miami Lakes, FL is $2,024 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,288.
What is the median household income in Miami Lakes?
The median household income in Miami Lakes, FL is $97,255 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.