Lake Park, IA 51347 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lake Park, IA—51347

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$236,000

0.2% YoY Growth

Household Income

$81,700

20.9% YoY Growth

Days on Market

3.0% Shorter YoY

Home Price Forecast

1.3%

Median Rent

$1,600

25.6% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$1,600

N/A

Home Price Trends — Lake Park, IA

As of Dec '25, the median home price in Lake Park, IA is $236,000, with a year-over-year change of 0.2%. This indicates that home prices in Lake Park, IA are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$236,000	0.2%
Single Family	$234,000	0.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

27.1%

2 Bedrooms

35.7%

3 Bedrooms

24.3%

4 Bedrooms

4.3%

5+ Bedrooms

8.6%

Property Listings — Lake Park, IA

As of Dec '25, Realtor.com reports that the median days on market for a home in Lake Park, IA is 44. This is a increase of 32.0% 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 44.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$244,000	-32.0%
Listing Count	9	-16.0%
Listings as % of Homes	0.7%	-16.0%
Days on Market	76	-3.0%

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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%

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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%

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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%

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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

Lake Park, IA—51347

Key Metrics at a Glance

Home Price Trends — Lake Park, IA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake Park, IA

% of Rental Stock

Property Listings — Lake Park, IA

Demographics — Lake Park, IA

Race and Ethnicity

Mortgage and Risk — Lake Park, IA

Mortgages

Rentals and Section 8 — Lake Park, IA

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake Park, IA

Home Price to Income Ratio

Lake Park, IA — ZIP Code Boundary Map

Nearby ZIP Codes

Harris, IA

Round Lake, MN

West Okoboji, IA

Okoboji, IA

Arnolds Park, IA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.5
Median Home Price	$236,000
Median Household Income	$81,700

Lake Park, IA—51347

Key Metrics at a Glance

Home Price Trends — Lake Park, IA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake Park, IA

% of Rental Stock

Property Listings — Lake Park, IA

Demographics — Lake Park, IA

Race and Ethnicity

Mortgage and Risk — Lake Park, IA

Mortgages

Rentals and Section 8 — Lake Park, IA

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake Park, IA

Home Price to Income Ratio

Lake Park, IA — ZIP Code Boundary Map

Nearby ZIP Codes

Harris, IA

Round Lake, MN

West Okoboji, IA

Okoboji, IA

Arnolds Park, IA

Frequently Asked Questions

What is the average home price in Lake Park, IA 51347?

How have home prices in Lake Park, IA 51347 changed over the past year?

What is the home price projection for Lake Park, IA 51347?

What are the demographics of Lake Park, IA 51347?

How long does it take homes to sell in Lake Park, IA 51347?

What is the average rent price in Lake Park, IA 51347?