Lake City, TN—37769
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake City, TN
As of Oct '25, the median home price in Lake City, TN is $232,000, with a year-over-year change of 0.4%. This indicates that home prices in Lake City, TN are flat. According to Zillow, the 1-year price projection is 4.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $232,000 | 0.4% |
| Single Family | $231,000 | 0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $291,000 | 3.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake City, TN
As of July '25, Rentcast reports the average rent in Lake City, TN is $2,150, with a year-over-year rent change of 88.6%. Per bedroom, the median rent as of July '25 in Lake City, TN is 4-bedrooms: $2,150. The most common rental property sizes in Lake City, TN are 2-bedroom and 1-bedroom, accounting for 41.4% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $2,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $2,150 | $2,150 |
% of Rental Stock
Property Listings — Lake City, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake City, TN is 70. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $300,000 | 14.0% |
Listing Count | 35 | 5.0% |
| Listings as % of Homes | 0.6% | 5.0% |
Days on Market | 70 | -23.0% |
Demographics — Lake City, TN
As of the latest ACS Survey released in 2023, Lake City, TN has a population of 5,670, which has decreased by -1.6% over the past 5 years. Lake City, TN is a moderately popular place for families, as children make up 17.1% of the population. The area has a poorly educated workforce, with 11.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,670 | -1.6% |
% Under 18 | 17.1% | -7.1% |
% Seniors | 19.7% | -5.7% |
% WFH | 4.9% | 345.5% |
% w/ College Degree | 11.4% | 65.2% |
As of the latest ACS Survey released in 2023, Lake City, TN is a predominantly white area, with 93.1% of the population identifying as white. The white population has shrunk by 4.9% in the last 5 years. The second most common race or ethnicity in Lake City, TN is hispanic, making up 2.3% of the population. Foreign-born residents account for 1.4% of the population in Lake City, TN, and this percentage has increased by 600.0% 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 | 93.1% | -4.9% |
% Black | 0.7% | 250.0% |
% Hispanic | 2.3% | 228.6% |
% Asian | 1.5% | 1,400.0% |
% Foreign Born | 1.4% | 600.0% |
Mortgage and Risk — Lake City, TN
According to HUD data as of 2023, there were 78 mortgage originations in Lake City, TN, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Lake City, TN. Investor activity is low, as 5.0% of loans were by investors. 23.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 78 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 23.0% |
Loan Activity
Rentals and Section 8 — Lake City, TN
Lake City, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 192 |
Total Units Section 8 | 64 |
% Rentals under Section 8 | 7.8% |
% Occupied Section 8 | 67.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $900 |
| 2 Bedroom | N/A | N/A | $1,100 |
| 3 Bedroom | N/A | N/A | $1,430 |
| 4 Bedroom | -$500 | $2,150 | $1,650 |
Affordability — Lake City, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $232,000 |
| Median Household Income | $51,700 |