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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 $136,944, lower than the South Dakota average of $268,202.
The average cost of rent is $773/mo in Lake City, primarily driven by the current value of real estate in the Lake City area. In Lake City, 20.94% of households rent, and 75.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake City is $6,404 per month. Households that rent pay about 12.07% 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
- Eden, SD: equally priced homes
- Veblen, SD: less expensive homes
- Roslyn, SD: higher priced homes
- Marlow, SD: less expensive homes
- Spain, SD: higher priced homes
- Britton, SD: higher priced homes
- Kidder, SD: higher priced homes
- Grenville, SD: higher priced homes
- Claire City, SD: less expensive homes
- Sisseton, SD: equally priced homes
Cities with Similar Populations
- Maple Hill, MN: higher priced homes
- Locust Ridge, OH: higher priced homes
- London, CA: higher priced homes
- London, IN: higher priced homes
- Long Lake, WI: higher priced homes
- Makinen, MN: higher priced homes
- Malmo, NE: higher priced homes
- Manalapan, FL: higher priced homes
- Mansfield, TN: less expensive homes
- Aberdeen, KY: less expensive homes
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