Three Lakes South median real estate price is $863,067, which is more expensive than 89.4% of the neighborhoods in Florida and 87.2% of the neighborhoods in the U.S.
The average rental price in Three Lakes South is currently $6,420, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.2% of the neighborhoods in Florida.
Three Lakes South is an urban neighborhood (based on population density) located in Miami, Florida.
Three Lakes South real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Three Lakes South neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.
In Three Lakes South, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Three Lakes South is very tight compared to the demand for property here.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the Three Lakes South neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.
Of note is NeighborhoodScout's research finding that the Three Lakes South neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Three Lakes South community truly stands out from the rest in this regard.
In addition, a majority of the adults in the Three Lakes South neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Florida by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 95.3% of the neighborhoods in Florida. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for families with school-aged children.
Did you know that the Three Lakes South neighborhood has more South American and Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 25.0% of this neighborhood's residents have South American ancestry and 20.0% have Cuban ancestry.
Three Lakes South is also pretty special linguistically. Significantly, 58.6% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.4% of all U.S. neighborhoods.
Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Three Lakes South neighborhood. What is interesting to note, is that the Three Lakes South neighborhood has a greater percentage of residents born in another country (48.1%) than are found in 97.1% of all U.S. neighborhoods.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the Three Lakes South neighborhood in Miami are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 80.7% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America'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 South neighborhood, 65.5% 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 18.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.6%), and 2.1% in government jobs, whether they are in local, state, or federal positions.
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 South neighborhood is Spanish, spoken by 58.6% of households. Other important languages spoken here include English and Chinese.
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 South neighborhood in Miami, FL, residents most commonly identify their ethnicity or ancestry as South American (25.0%). There are also a number of people of Cuban ancestry (20.0%), and residents who report Italian roots (8.6%), and some of the residents are also of German ancestry (4.0%), along with some Asian ancestry residents (3.1%), among others. In addition, 48.1% of the residents of this neighborhood were born in another country.
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 South neighborhood spend between 30 and 45 minutes commuting one-way to work (33.5% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.
Here most residents (68.5%) 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 (7.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.