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Affordable
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These days, finding an affordable place to live in the Lake area can be challenging. Home prices in Lake are now at a median cost of $90,002, lower than the West Virginia average of $177,366.
The average cost of rent is $652/mo in Lake, primarily driven by the current value of real estate in the Lake area. In Lake, 20.53% of households rent, and 60.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake is $4,605 per month. Households that rent pay about 14.17% of their income on rent here. Lake’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Hewett, WV: higher priced homes
- Pecks Mill, WV: higher priced homes
- Henlawson, WV: higher priced homes
- Sodom, WV: higher priced homes
- Mitchell Heights, WV: higher priced homes
- Ethel, WV: less expensive homes
- Peach Creek, WV: less expensive homes
- Sharples, WV: higher priced homes
- Manila, WV: higher priced homes
- Clothier, WV: less expensive homes
Cities with Similar Populations
- Somers Lane, PA: higher priced homes
- Lynnville, KY: higher priced homes
- Mackay, ID: higher priced homes
- Malta, ID: higher priced homes
- Mambrino, TX: higher priced homes
- Merritt, NC: higher priced homes
- Samaria, MI: higher priced homes
- Sayner, WI: higher priced homes
- Searles, MN: higher priced homes
- Shamrock Lakes, IN: higher priced homes
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