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Lake City Housing Information

IndexLake CityFloridaNational
Median home price$100,700$166,800$184,700
Median rent asked$772$1,032$949
Avg. people per household2.42.62.6
Owner occupied households47.1%64.8%63.6%
Renter occupied households52.9%35.2%36.4%
Above, you will see a summary of real estate in Lake City, FL. On average, homes in Lake City, FL cost $100,700, a value that is 40% lower than the average in Florida. In general terms, this results in Lake City, FL real estate being more affordable than Florida real estate. On average, people who rent houses in Lake City, FL pay $772; this value is 25% lower than the average amount renters pay in Florida. 47.1% of Lake City, FL residents own their own homes and, on average, each of the homes has 2.4 occupants. Lake City, FL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Lake City, FL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Lake City Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Lake City, FL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Lake City, FL’s median home price stands at $100,700 while $35,385 is the value of the average household income. The resulting home price to income ratio, which is 2.8x, differs from the Florida average as the ratio is 17% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Lake City, FL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Lake City, FL.

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Five Points, FL1,063$42,80077%
Watertown, FL3,451$94,50049%
White Springs, FL871$97,10047%
Lake City, FL12,137$100,70045%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Neosho, MO12,144$95,30048%
Babylon, NY12,130$440,400138%
Speedway, IN12,145$116,20037%
Palmer Town, MA12,145$181,5002%
Portland, TN12,125$128,20031%
Lake City, FL12,137$100,70045%

Source: The Lake City, FL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).
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