Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lake Wales area can be challenging. Home prices in Lake Wales are now at a median cost of $165,168, lower than the Florida average of $278,762.
The average cost of rent is $1,040/mo in Lake Wales, primarily driven by the current value of real estate in the Lake Wales area. While nearly 53.84% of residents own their homes outright in Lake Wales, 29.59% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lake Wales is $3,967 per month. Households that rent pay about 26.22% of their income on rent here. Lake Wales's most expensive areas are in the eastern regions, while the cheapest areas are in the northern parts of the city.
Nearby Cities
- Highland Park, FL: higher priced homes
- Waverly, FL: equally priced homes
- Babson Park, FL: less expensive homes
- Nalcrest, FL: less expensive homes
- Dundee, FL: equally priced homes
- Alturas, FL: less expensive homes
- Loughman, FL: higher priced homes
- Cypress Gardens, FL: higher priced homes
- Lake Hamilton, FL: equally priced homes
- Fedhaven, FL: less expensive homes
Cities with Similar Populations
- Atlantic City, NJ: equally priced homes
- Rome, NY: less expensive homes
- Schertz, TX: higher priced homes
- Shawnee, OK: less expensive homes
- Somerset, KY: less expensive homes
- Fort Washington, MD: higher priced homes
- Summit, AZ: equally priced homes
- Fairborn, OH: less expensive homes
- Villa Rica, GA: higher priced homes
- Danville, IL: less expensive homes
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