Lake Park, IA—51347
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Park, IA
As of Oct '25, the median home price in Lake Park, IA is $237,000, with a year-over-year change of 0.4%. This indicates that home prices in Lake Park, IA are flat. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $237,000 | 0.4% |
| Single Family | $236,000 | 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 | $174,000 | 0.6% |
3 Bed | $242,000 | 0.8% |
4 Bed | $308,000 | 2.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake Park, IA
As of July '25, Rentcast reports the average rent in Lake Park, IA is $1,340, with a year-over-year rent change of -25.6%. Per bedroom, the median rent as of July '25 in Lake Park, IA is 3-bedrooms: $1,340. The most common rental property sizes in Lake Park, IA are 2-bedroom and 1-bedroom, accounting for 35.7% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,340 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,600 | $1,340 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake Park, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake Park, IA is 59. This is a increase of 56.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $299,000 | 4.0% |
Listing Count | 8 | -35.0% |
| Listings as % of Homes | 0.7% | -35.0% |
Days on Market | 59 | 56.0% |
Demographics — Lake Park, IA
As of the latest ACS Survey released in 2023, Lake Park, IA has a population of 1,520, which has remained stable by -0.1% over the past 5 years. Lake Park, IA is a moderately popular place for families, as children make up 24.7% of the population. The area has a poorly educated workforce, with 21.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,520 | -0.1% |
% Under 18 | 24.7% | 10.3% |
% Seniors | 24.3% | 14.6% |
% WFH | 5.7% | 200.0% |
% w/ College Degree | 21.4% | -7.8% |
As of the latest ACS Survey released in 2023, Lake Park, IA is a predominantly white area, with 93.7% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Lake Park, IA is hispanic, making up 3.1% of the population. Foreign-born residents account for 2.2% of the population in Lake Park, IA, and this percentage has increased by 266.7% 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 | 93.7% | -3.5% |
% Black | 0.0% | N/A |
% Hispanic | 3.1% | 121.4% |
% Asian | 0.9% | 12.5% |
% Foreign Born | 2.2% | 266.7% |
Mortgage and Risk — Lake Park, IA
According to HUD data as of 2023, there were 45 mortgage originations in Lake Park, IA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Lake Park, IA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 45 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lake Park, IA
Lake Park, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 13 |
Total Units Section 8 | 13 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $860 |
| 2 Bedroom | N/A | N/A | $1,130 |
| 3 Bedroom | -$240 | $1,600 | $1,360 |
| 4 Bedroom | N/A | N/A | $1,500 |
Affordability — Lake Park, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $237,000 |
| Median Household Income | $81,700 |