Miami Lakes at a glance
- Population: 31,238 (US Census Bureau, Vintage 2023 subcounty estimate), the 92nd-largest of 411 places in Florida.
- 2020 Census base: 30,458 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: about 2.6% more residents than the 2020 Census base (US Census Bureau).
- Rank among Florida places: 92nd out of 411 Census places (US Census Bureau).
- Size percentile: roughly 78% of Florida's places have fewer residents (US Census Bureau).
- Coordinates: 25.9127 / -80.3204, per the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Hialeah, FL (3 mi); Miramar, FL (4 mi); Miami Gardens, FL (5 mi); Doral, FL (7 mi); Pembroke Pines, FL (7 mi) (US Census Bureau).
- Nearest smaller communities: Hialeah Gardens, FL (3 mi); Medley, FL (4 mi); Opa-locka, FL (4 mi) (Census populations).
What a personal loan costs in Miami Lakes
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Florida lending rules that apply in Miami Lakes
The table lists the Florida rules that apply to a loan made in Miami Lakes, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Florida Office of Financial Regulation (OFR) Source says: "The Office of Financial Regulation is a state-government agency created by the Governor and Cabinet to provide regulatory oversight for Florida's financial services industry". | Florida Office of Financial Regulation as of 2026-09-16 |
| Deferred presentment fee cap | 10% of the amount provided (transactions not repayable in installments) Source says: "A deferred presentment provider or its affiliate may not charge fees that exceed 10 percent of the currency or payment instrument provided". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 18% per annum simple interest (loans/advances of $500,000 or less; loans above $500,000 are exempt from this cap) Source says: "it shall be usury and unlawful ... to ... charge ... a rate of interest greater than the equivalent of 18 percent per annum simple interest". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred presentment providers; money services business license under chapter 560) Source says: "Businesses intending to engage in deferred presentment transactions must be licensed as a money services business under chapter 560, Florida Statutes". | Florida Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance loan license required (chapter 516) Source says: "A person must not engage in the business of making consumer finance loans ... unless ... the person first obtains a license from the office". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
How to compare offers in Miami Lakes
Before you share your details with a lender in Miami Lakes:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Florida using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.