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These days, finding an affordable place to live in the Lake Royale area can be challenging. Home prices in Lake Royale are now at a median cost of $295,783, lower than the North Carolina average of $323,314.
The average cost of rent is $1,136/mo in Lake Royale, primarily driven by the current value of real estate in the Lake Royale area. In Lake Royale, 8.71% of households rent, and 31.47% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Royale is $9,001 per month. Households that rent pay about 12.62% of their income on rent here. Lake Royale’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Bunn, NC: less expensive homes
- Pine Ridge, NC: less expensive homes
- Spring Hope, NC: less expensive homes
- Frazier Crossroads, NC: less expensive homes
- Justice, NC: less expensive homes
- Samaria, NC: less expensive homes
- Momeyer, NC: less expensive homes
- Louisburg, NC: less expensive homes
- Mapleville, NC: less expensive homes
- Rocky Cross, NC: less expensive homes
Cities with Similar Populations
- Augusta, MI: higher priced homes
- Woodbourne, NY: less expensive homes
- Turbeville, SC: less expensive homes
- Thermopolis, WY: less expensive homes
- Sugarloaf, PA: equally priced homes
- Stockholm, NJ: higher priced homes
- Spring Valley, MN: less expensive homes
- Sherburne, NY: less expensive homes
- Seven Fields, PA: higher priced homes
- Mount Penn, PA: less expensive homes
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