Lake City, SC—29560
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake City, SC
As of Nov '25, the median home price in Lake City, SC is $123,000, with a year-over-year change of -3.4%. This indicates that home prices in Lake City, SC are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $123,000 | -3.4% |
| Single Family | $123,000 | -2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $77,000 | -2.5% |
3 Bed | $127,000 | -2.3% |
4 Bed | $186,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake City, SC
As of July '25, Rentcast reports the average rent in Lake City, SC is $899, with a year-over-year rent change of -2.8%. Per bedroom, the median rent as of July '25 in Lake City, SC is 1-bedrooms: $928, 2-bedrooms: $899, 3-bedrooms: $812. The most common rental property sizes in Lake City, SC are 2-bedroom and 3-bedroom, accounting for 42.9% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $899 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,000 | $928 |
| 2 Bed Rent | $899 | $899 |
| 3 Bed Rent | $781 | $812 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake City, SC
As of Nov '25, Realtor.com reports that the median days on market for a home in Lake City, SC is 65. This is a decrease of -29.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $169,000 | -18.0% |
Listing Count | 35 | -12.0% |
| Listings as % of Homes | 0.4% | -12.0% |
Days on Market | 65 | -29.0% |
Demographics — Lake City, SC
As of the latest ACS Survey released in 2023, Lake City, SC has a population of 12,300, which has decreased by -7.6% over the past 5 years. Lake City, SC is a moderately popular place for families, as children make up 17.4% of the population. The area has a poorly educated workforce, with 18.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,300 | -7.6% |
% Under 18 | 17.4% | -37.0% |
% Seniors | 19.6% | 27.3% |
% WFH | 6.8% | 161.5% |
% w/ College Degree | 18.7% | -1.1% |
As of the latest ACS Survey released in 2023, Lake City, SC is a predominantly black area, with 55.4% of the population identifying as black. The black population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Lake City, SC is white, making up 38.8% of the population. Foreign-born residents account for 1.3% of the population in Lake City, SC, and this percentage has decreased by 48.0% 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 | 38.8% | 8.4% |
% Black | 55.4% | -4.8% |
% Hispanic | 1.4% | -68.2% |
% Asian | 0.4% | -75.0% |
% Foreign Born | 1.3% | -48.0% |
Mortgage and Risk — Lake City, SC
According to HUD data as of 2023, there were 62 mortgage originations in Lake City, SC, of which 45.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 58.0% above 90% LTV (very high). This implies large mortgage risk in Lake City, SC. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 62 |
% Conventional Loans | 45.0% |
% Government Loans | 55.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Rentals and Section 8 — Lake City, SC
Lake City, SC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 532 |
Total Units Section 8 | 519 |
% Rentals under Section 8 | 22.9% |
% Occupied Section 8 | 78.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$250 | $1,000 | $750 |
| 2 Bedroom | $31 | $899 | $930 |
| 3 Bedroom | $409 | $781 | $1,190 |
| 4 Bedroom | N/A | N/A | $1,300 |
Affordability — Lake City, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $123,000 |
| Median Household Income | $45,400 |