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These days, finding an affordable place to live in the Lake Placid area can be challenging. Home prices in Lake Placid are now at a median cost of $226,501, lower than the Florida average of $396,783.
The average cost of rent is $1,101/mo in Lake Placid, primarily driven by the current value of real estate in the Lake Placid area. In Lake Placid, 18.86% of households rent, and 64.39% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Placid is $4,784 per month. Households that rent pay about 23.01% of their income on rent here. Lake Placid’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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- Nocatee, FL: higher priced homes
- Okeechobee, FL: equally priced homes
Cities with Similar Populations
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- Columbia Heights, MN: higher priced homes
- Cameron Park, CA: higher priced homes
- Anderson, CA: higher priced homes
- Amherst, OH: higher priced homes
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