Coral Gables, FL vs Three Lakes, FL

There is a significant gap in the cost of living between these two cities. Three Lakes is 29.9% cheaper than Coral Gables. With a cost index of 143 vs 186, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Three Lakes to Coral Gables should plan for substantially higher expenses across most categories.

On the housing front, median rent in Coral Gables is $2,121/month compared to $2,255/month in Three Lakes — a 6% difference. Interestingly, home values tell a different story: while Coral Gables has cheaper rent, Three Lakes actually has lower median home values ($434,800 vs $1,007,500).

Median household income in Coral Gables is $130,803 compared to $91,364 in Three Lakes (+43.2%). While Coral Gables is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Coral Gables spend roughly 19.5% of their income on rent, less than the 29.6% in Three Lakes.