Lake City, Florida Real Estate & Housing Market

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Lake City Housing Information

Index	Lake City	Florida	National
Median home price	$100,700	$166,800	$184,700
Median rent asked	$772	$1,032	$949
Avg. people per household	2.4	2.6	2.6
Owner occupied households	47.1%	64.8%	63.6%
Renter occupied households	52.9%	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, State	Population	Home Price	National Avg.
Five Points, FL	1,063	$42,800	77%
Watertown, FL	3,451	$94,500	49%
White Springs, FL	871	$97,100	47%
Lake City, FL	12,137	$100,700	45%

Cities with similar population

City, State	Population	Home Price	National Avg.
Neosho, MO	12,144	$95,300	48%
Babylon, NY	12,130	$440,400	138%
Speedway, IN	12,145	$116,200	37%
Palmer Town, MA	12,145	$181,500	2%
Portland, TN	12,125	$128,200	31%
Lake City, FL	12,137	$100,700	45%

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