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Real Estate Prices & Overview

Three Lakes East median real estate price is $631,785, which is more expensive than 76.8% of the neighborhoods in Florida and 76.8% of the neighborhoods in the U.S.

The average rental price in Three Lakes East is currently $4,256, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.7% of the neighborhoods in Florida.

Three Lakes East is an urban neighborhood (based on population density) located in Miami, Florida.

Three Lakes East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Three Lakes East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 9.6% in Three Lakes East. NeighborhoodScout analysis shows that this rate is lower than 40.3% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Diversity

Did you know that the Three Lakes East neighborhood has more Cuban and South American ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 17.7% of this neighborhood's residents have Cuban ancestry and 13.1% have South American ancestry.

Three Lakes East is also pretty special linguistically. Significantly, 2.4% of its residents five years old and above primarily speak Vietnamese at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Three Lakes East neighborhood in Miami are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 58.7% of the neighborhoods in America. With 22.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 72.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Three Lakes East neighborhood, 35.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 33.2% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (16.3%), and 15.2% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Three Lakes East neighborhood is Spanish, spoken by 58.1% of households. Other important languages spoken here include English, French, Vietnamese and Chinese.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Three Lakes East neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as Cuban (17.7%). There are also a number of people of South American ancestry (13.1%), and residents who report Dominican roots (6.0%), and some of the residents are also of Asian ancestry (4.1%), along with some Jamaican ancestry residents (3.2%), among others. In addition, 39.1% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Three Lakes East neighborhood spend between 30 and 45 minutes commuting one-way to work (37.6% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (79.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (10.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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