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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 $200,019, lower than the Florida average of $396,783.
The average cost of rent is $1,196/mo in Lake Wales, primarily driven by the current value of real estate in the Lake Wales area. In Lake Wales, 30.20% of households rent, and 51.74% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Wales is $4,655 per month. Households that rent pay about 25.70% of their income on rent here. Lake Wales’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
- Highland Park, FL: equally priced homes
- Waverly, FL: equally priced homes
- Babson Park, FL: equally priced homes
- Nalcrest, FL: less expensive homes
- Dundee, FL: higher priced homes
- Alturas, FL: equally priced homes
- Loughman, FL: higher priced homes
- Cypress Gardens, FL: higher priced homes
- Lake Hamilton, FL: higher 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: higher priced homes
- Fairborn, OH: equally priced homes
- Villa Rica, GA: higher priced homes
- Danville, IL: less expensive homes
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