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Affordable
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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 $288,040, lower than the Minnesota average of $345,793.
The average cost of rent is $951/mo in Lake City, primarily driven by the current value of real estate in the Lake City area. In Lake City, 18.15% of households rent, and 43.71% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake City is $7,167 per month. Households that rent pay about 13.27% of their income on rent here. Lake City’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Stockholm, WI: equally priced homes
- Frontenac, MN: higher priced homes
- Pepin, WI: less expensive homes
- Oak Center, MN: higher priced homes
- Reads Landing, MN: less expensive homes
- Warrentown, WI: equally priced homes
- Wacouta, MN: higher priced homes
- Theilman, MN: higher priced homes
- Maiden Rock, WI: equally priced homes
- Bellechester, MN: higher priced homes
Cities with Similar Populations
- Mineral, VA: higher priced homes
- Pinconning, MI: less expensive homes
- Montrose, VA: less expensive homes
- Monticello, IL: less expensive homes
- Montesano, WA: higher priced homes
- Monterey, TN: less expensive homes
- Moneta, VA: higher priced homes
- Mohave Valley, AZ: less expensive homes
- Mitchell, IN: less expensive homes
- Miramar Beach, FL: higher priced homes
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