Lake Park, NC—28079
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Park, NC
As of Oct '25, the median home price in Lake Park, NC is $435,000, with a year-over-year change of -1.5%. This indicates that home prices in Lake Park, NC are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $435,000 | -1.5% |
| Single Family | $436,000 | -1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $290,000 | -1.7% |
3 Bed | $380,000 | -2.1% |
4 Bed | $482,000 | -1.6% |
| 5 Bed | $571,000 | -1.4% |
% of Housing Stock
Rental Trends — Lake Park, NC
As of July '25, Rentcast reports the average rent in Lake Park, NC is $2,130, with a year-over-year rent change of -4.9%. Per bedroom, the median rent as of July '25 in Lake Park, NC is studios: $1,900, 1-bedrooms: $1,500, 2-bedrooms: $1,870, 3-bedrooms: $2,110, 4-bedrooms: $2,400. The most common rental property sizes in Lake Park, NC are 3-bedroom and 4-bedroom, accounting for 45.3% and 22.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,060 | $2,130 |
| Studio Rent | $1,900 | $1,900 |
| 1 Bed Rent | $1,500 | $1,500 |
| 2 Bed Rent | $1,850 | $1,870 |
| 3 Bed Rent | $2,100 | $2,110 |
| 4 Bed Rent | $2,360 | $2,400 |
% of Rental Stock
Property Listings — Lake Park, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake Park, NC is 54. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $480,000 | -3.0% |
Listing Count | 260 | 52.0% |
| Listings as % of Homes | 1.0% | 52.0% |
Days on Market | 54 | 10.0% |
Demographics — Lake Park, NC
As of the latest ACS Survey released in 2023, Lake Park, NC has a population of 40,800, which has increased by 11.1% over the past 5 years. Lake Park, NC is a popular place for families, as children make up 25.8% of the population. The area has a moderately educated workforce, with 40.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,800 | 11.1% |
% Under 18 | 25.8% | -4.4% |
% Seniors | 12.3% | 9.8% |
% WFH | 16.9% | 141.4% |
% w/ College Degree | 40.7% | 15.3% |
As of the latest ACS Survey released in 2023, Lake Park, NC is a predominantly white area, with 73.4% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Lake Park, NC is black, making up 9.4% of the population. Foreign-born residents account for 11.5% of the population in Lake Park, NC, and this percentage has increased by 16.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 73.4% | -2.4% |
% Black | 9.4% | -4.1% |
% Hispanic | 9.4% | 6.8% |
% Asian | 3.4% | 25.9% |
% Foreign Born | 11.5% | 16.2% |
Mortgage and Risk — Lake Park, NC
According to HUD data as of 2023, there were 1224 mortgage originations in Lake Park, NC, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Lake Park, NC. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,224 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lake Park, NC
As of 2024, the percent of homes in Lake Park, NC under the Section 8 program is 2.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lake Park, NC, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 70 |
Total Units Section 8 | 70 |
% Rentals under Section 8 | 2.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $670 | $1,500 | $2,170 |
| 2 Bedroom | $550 | $1,850 | $2,400 |
| 3 Bedroom | $860 | $2,100 | $2,960 |
| 4 Bedroom | $1,390 | $2,360 | $3,750 |
Affordability — Lake Park, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $435,000 |
| Median Household Income | $97,600 |