Lake City, FL—32025
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake City, FL
As of Oct '25, the median home price in Lake City, FL is $231,000, with a year-over-year change of -0.5%. This indicates that home prices in Lake City, FL are flat. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $231,000 | -0.5% |
| Single Family | $231,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $173,000 | -1.1% |
3 Bed | $232,000 | -0.4% |
4 Bed | $293,000 | 0.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake City, FL
As of July '25, Rentcast reports the average rent in Lake City, FL is $1,790, with a year-over-year rent change of 27.0%. Per bedroom, the median rent as of July '25 in Lake City, FL is studios: $1,500, 1-bedrooms: $896, 2-bedrooms: $1,390, 3-bedrooms: $1,920, 4-bedrooms: $3,680. The most common rental property sizes in Lake City, FL are 2-bedroom and 3-bedroom, accounting for 45.2% and 28.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,790 |
| Studio Rent | $1,500 | $1,500 |
| 1 Bed Rent | $890 | $896 |
| 2 Bed Rent | $1,400 | $1,390 |
| 3 Bed Rent | $1,700 | $1,920 |
| 4 Bed Rent | $2,200 | $3,680 |
% of Rental Stock
Property Listings — Lake City, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake City, FL is 101. This is a increase of 29.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $270,000 | 3.0% |
Listing Count | 111 | 35.0% |
| Listings as % of Homes | 0.8% | 35.0% |
Days on Market | 101 | 29.0% |
Demographics — Lake City, FL
As of the latest ACS Survey released in 2023, Lake City, FL has a population of 23,300, which has increased by 4.0% over the past 5 years. Lake City, FL is a moderately popular place for families, as children make up 19.7% of the population. The area has a poorly educated workforce, with 16.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | 4.0% |
% Under 18 | 19.7% | -3.9% |
% Seniors | 18.3% | 12.3% |
% WFH | 5.5% | 25.0% |
% w/ College Degree | 16.4% | 8.6% |
As of the latest ACS Survey released in 2023, Lake City, FL is a predominantly white area, with 66.6% of the population identifying as white. The white population has grown by 1.4% in the last 5 years. The second most common race or ethnicity in Lake City, FL is black, making up 20.6% of the population. Foreign-born residents account for 3.5% of the population in Lake City, FL, and this percentage has decreased by 25.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.6% | 1.4% |
% Black | 20.6% | -5.1% |
% Hispanic | 7.8% | -1.3% |
% Asian | 0.4% | -71.4% |
% Foreign Born | 3.5% | -25.5% |
Mortgage and Risk — Lake City, FL
According to HUD data as of 2023, there were 304 mortgage originations in Lake City, FL, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Lake City, FL. Investor activity is low, as 2.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 304 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Lake City, FL
Lake City, FL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 207 |
Total Units Section 8 | 154 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 70.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $890 | $850 |
| 2 Bedroom | -$290 | $1,400 | $1,110 |
| 3 Bedroom | -$350 | $1,700 | $1,350 |
| 4 Bedroom | -$730 | $2,200 | $1,470 |
Affordability — Lake City, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $231,000 |
| Median Household Income | $47,100 |