Lake Mary, FL—32746
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Mary, FL
As of Nov '25, the median home price in Lake Mary, FL is $457,000, with a year-over-year change of -4.0%. This indicates that home prices in Lake Mary, FL are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $457,000 | -4.0% |
| Single Family | $485,000 | -3.6% |
| Condos | $187,000 | -11.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $143,000 | -13.3% |
2 Bed | $225,000 | -8.5% |
3 Bed | $397,000 | -5.0% |
4 Bed | $590,000 | -2.0% |
| 5 Bed | $881,016 | -0.5% |
% of Housing Stock
Rental Trends — Lake Mary, FL
As of July '25, Rentcast reports the average rent in Lake Mary, FL is $2,430, with a year-over-year rent change of -1.6%. Per bedroom, the median rent as of July '25 in Lake Mary, FL is studios: $1,540, 1-bedrooms: $1,420, 2-bedrooms: $1,920, 3-bedrooms: $2,390, 4-bedrooms: $3,100. The most common rental property sizes in Lake Mary, FL are 2-bedroom and 1-bedroom, accounting for 37.9% and 31.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,430 |
| Studio Rent | $1,440 | $1,540 |
| 1 Bed Rent | $1,390 | $1,420 |
| 2 Bed Rent | $1,780 | $1,920 |
| 3 Bed Rent | $2,430 | $2,390 |
| 4 Bed Rent | $2,950 | $3,100 |
% of Rental Stock
Property Listings — Lake Mary, FL
As of Nov '25, Realtor.com reports that the median days on market for a home in Lake Mary, FL is 75. This is a increase of 33.0% 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 | $424,000 | -12.0% |
Listing Count | 219 | -3.0% |
| Listings as % of Homes | 0.6% | -3.0% |
Days on Market | 75 | 33.0% |
Demographics — Lake Mary, FL
As of the latest ACS Survey released in 2023, Lake Mary, FL has a population of 46,000, which has increased by 6.3% over the past 5 years. Lake Mary, FL is a moderately popular place for families, as children make up 19.2% of the population. The area has a highly educated workforce, with 53.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 46,000 | 6.3% |
% Under 18 | 19.2% | -5.9% |
% Seniors | 17.0% | -1.7% |
% WFH | 25.4% | 146.6% |
% w/ College Degree | 53.3% | 10.8% |
As of the latest ACS Survey released in 2023, Lake Mary, FL is a predominantly white area, with 63.7% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Lake Mary, FL is hispanic, making up 17.1% of the population. Foreign-born residents account for 18.1% of the population in Lake Mary, FL, and this percentage has increased by 4.0% 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 | 63.7% | -2.9% |
% Black | 7.7% | -7.2% |
% Hispanic | 17.1% | 11.8% |
% Asian | 8.6% | 7.5% |
% Foreign Born | 18.1% | 4.0% |
Mortgage and Risk — Lake Mary, FL
According to HUD data as of 2023, there were 691 mortgage originations in Lake Mary, FL, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Lake Mary, 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 | 691 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Rentals and Section 8 — Lake Mary, FL
As of 2024, the percent of homes in Lake Mary, FL under the Section 8 program is 0.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lake Mary, FL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 10 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | 83.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $580 | $1,390 | $1,970 |
| 2 Bedroom | $450 | $1,780 | $2,230 |
| 3 Bedroom | $400 | $2,430 | $2,830 |
| 4 Bedroom | $420 | $2,950 | $3,370 |
Affordability — Lake Mary, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $457,000 |
| Median Household Income | $112,000 |