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These days, finding an affordable place to live in the Lake City area can be challenging. Home prices in Lake City are now at a median cost of $126,454, lower than the Kentucky average of $219,615.
The average cost of rent is $816/mo in Lake City, primarily driven by the current value of real estate in the Lake City area. In Lake City, 35.36% of households rent, and 51.97% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake City is $4,706 per month. Households that rent pay about 17.34% of their income on rent here. Lake City’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Grand Rivers, KY: higher priced homes
- Suwanee, KY: higher priced homes
- Iuka, KY: higher priced homes
- Gilbertsville, KY: higher priced homes
- Kuttawa, KY: higher priced homes
- Calvert City, KY: higher priced homes
- Tiline, KY: higher priced homes
- Sherwood Shores, KY: higher priced homes
- Dycusburg, KY: equally priced homes
- Possum Trot, KY: higher priced homes
Cities with Similar Populations
- Ottumwa Junction, IA: higher priced homes
- Powell, WI: higher priced homes
- Port Graham, AK: higher priced homes
- Pontotoc, OK: equally priced homes
- Ponca, AR: higher priced homes
- Polk, TN: less expensive homes
- Painter Run, PA: higher priced homes
- Owassa, AL: higher priced homes
- Outlook, MT: equally priced homes
- Powells Crossroads, AL: higher priced homes
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