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Lake Park Real Estate Market Facts

  • $182,800Median home price
    16% higher than North Carolina
  • $1,425Median rent asked
    75% higher than North Carolina
  • 89.6%Home owners
    38% higher than North Carolina
  • 3.0People per home
    17% higher than North Carolina
Above, you will see a summary of real estate in Lake Park, NC. On average, homes in Lake Park, NC cost $182,800, a value that is 16% higher than the average in North Carolina. In general terms, this results in Lake Park, NC real estate being less affordable than North Carolina real estate. On average, people who rent houses in Lake Park, NC pay $1,425; this value is 75% higher than the average amount renters pay in North Carolina. 89.6% of Lake Park, NC residents own their own homes and, on average, each of the homes has 3.0 occupants. Lake Park, NC 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 Park, NC 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 Park Home Affordability

  • $182,800Median home price
    16% higher than North Carolina
  • $69,926Median home income
    45% higher than North Carolina
  • 2.6xHome price to income ratio
    20% lower than North Carolina
It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Lake Park, NC. To estimate home affordability, one method is to use the ratio of home price to median household income. The Lake Park, NC’s median home price stands at $182,800 while $69,926 is the value of the average household income. The resulting home price to income ratio, which is 2.6x, differs from the North Carolina average as the ratio is 20% 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 Park, NC 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 Park, NC.

Lake Park Affordability Calculator

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Are you looking for real estate in Lake Park, NC? Be careful not to purchase a home outside of your budget. A home affordability calculator lets you input your income, down payment, and debts to figure out how much you can afford to spend on your new home. If you know further information, such as mortgage term and rate or insurance, taxes, and HOA dues, you can input that as well to get a better estimate of the total cost. The calculator will show you the maximum amount you can afford to spend on a home. With that number in mind, you can start looking for a home in Lake Park, NC and avoid homes that don’t fit in your budget to guard yourself from an emotional, yet costly, decision. Thanks to the home affordability calculator, you can also create a stronger budget plan. Once you know your housing costs, you can figure out how much money you should spend and how much money you can save.

Lake Park Mortgage Calculator

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What will I pay monthly if I buy real estate in Lake Park, NC? Determining the monthly payment amount of a home is based on a number of different factors. Obviously, the most significant variable is the overall price of the house, but there are also other considerations to make such as homeowners insurance, the interest rate, amount of the down payment, property taxes, private mortgage insurance (PMI), and even home owner's association dues. A great way to eliminate the PMI is by paying 20% of the cost of the house as a down payment. The mortgage calculator is filled out with default values for these variables, but they can be reset to give you a more accurate payment amount. The best rule when it comes to house payments is that you want to keep your debt to income ratio at no more than 36%. This means paying no more than 36% of your monthly income on your housse and all other debt payments.

Lake Park Demographics

  • 3,678Population
  • 4,698People / sq mile
  • 41.9Median age
  • 0.8:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Marshville, NC2,598$104,10044%
Wingate, NC3,798$135,60027%
Hemby Bridge, NC1,264$141,70023%
Stanfield, NC1,597$144,60022%
Monroe, NC34,212$146,70021%
Lake Park, NC3,678$182,8001%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Mills, WY3,677$100,40046%
Alturas, FL3,679$89,20052%
Northfield, OH3,679$135,90026%
Stanford, KY3,677$105,90043%
Gentry, AR3,675$113,20039%
Lake Park, NC3,678$182,8001%
Source: The Lake Park, NC housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).