Lake City, FL—32055
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 $217,000, with a year-over-year change of -1.8%. This indicates that home prices in Lake City, FL are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $217,000 | -1.8% |
| Single Family | $218,000 | -1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $123,000 | -4.7% |
3 Bed | $206,000 | -2.4% |
4 Bed | $391,000 | 2.1% |
| 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 $1,440, with a year-over-year rent change of 1.4%. Per bedroom, the median rent as of July '25 in Lake City, FL is 1-bedrooms: $1,040, 2-bedrooms: $1,240, 3-bedrooms: $1,920, 4-bedrooms: $1,300. The most common rental property sizes in Lake City, FL are 2-bedroom and 3-bedroom, accounting for 46.0% and 40.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $900 | $1,040 |
| 2 Bed Rent | $1,150 | $1,240 |
| 3 Bed Rent | $1,600 | $1,920 |
| 4 Bed Rent | $1,300 | $1,300 |
% 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 92. This is a increase of 41.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $382,000 | -4.0% |
Listing Count | 76 | 19.0% |
| Listings as % of Homes | 0.8% | 19.0% |
Days on Market | 92 | 41.0% |
Demographics — Lake City, FL
As of the latest ACS Survey released in 2023, Lake City, FL has a population of 16,800, which has decreased by -1.9% over the past 5 years. Lake City, FL is a popular place for families, as children make up 26.7% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,800 | -1.9% |
% Under 18 | 26.7% | 12.7% |
% Seniors | 18.4% | -3.2% |
% WFH | 3.7% | 23.3% |
% w/ College Degree | 18.2% | 23.8% |
As of the latest ACS Survey released in 2023, Lake City, FL is a predominantly white area, with 61.4% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Lake City, FL is black, making up 28.6% of the population. Foreign-born residents account for 3.3% of the population in Lake City, FL, and this percentage has increased by 26.9% 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 | 61.4% | -3.0% |
% Black | 28.6% | -8.9% |
% Hispanic | 4.1% | 10.8% |
% Asian | 0.9% | 350.0% |
% Foreign Born | 3.3% | 26.9% |
Mortgage and Risk — Lake City, FL
According to HUD data as of 2023, there were 167 mortgage originations in Lake City, FL, of which 57.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Lake City, FL. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 167 |
% Conventional Loans | 57.0% |
% Government Loans | 43.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 16.0% |
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 | 170 |
Total Units Section 8 | 130 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $900 | $780 |
| 2 Bedroom | -$130 | $1,150 | $1,020 |
| 3 Bedroom | -$360 | $1,600 | $1,240 |
| 4 Bedroom | $50 | $1,300 | $1,350 |
Affordability — Lake City, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $217,000 |
| Median Household Income | $57,300 |