Cost of Living in Lake County, Florida
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake County ranks #1,993 of 3,144 counties for affordability (bottom 37%)
Data Story
About Cost of Living in Lake County, Florida
Lake County renters stretch their budgets
Lake County's rent-to-income ratio of 25.2% exceeds the national average, meaning local renters dedicate roughly a quarter of their earnings to housing. At $1,468 monthly rent versus a median income of $69,956, the affordability gap is noticeable but still manageable compared to Florida's priciest metro areas.
Above average cost in Florida
Lake County's 25.2% rent-to-income ratio places it above Florida's state average of 22.5%, signaling tighter housing affordability across the county. Median rent of $1,468 reflects Lake County's position as a growth-oriented region with increasing demand and property costs.
Pricier than rural neighbors
Lake County's $1,468 median rent substantially exceeds neighboring rural counties like Levy ($826) and Marion County areas, though it remains cheaper than coastal hotspots like Lee ($1,597) and Manatee ($1,549). This reflects Lake's status as a regional hub with more urban amenities and job opportunities than surrounding counties.
Owners pay more, renters stretch further
Lake County renters spend $1,468 monthly (25.2% of income), while homeowners face $1,096 mortgage costs on median homes valued at $287,900. For renters, nearly one-quarter of take-home pay goes to housing; homeowners with substantial down payments enjoy better equity-building but still carry significant monthly obligations.
Lake County: growth with housing trade-offs
Lake County offers job growth and urban conveniences at the cost of higher housing burden than rural alternatives—renters here spend 25.2% of income on rent versus Lafayette's 17.4%. If you prioritize career opportunities and don't mind a tighter housing budget, Lake's median home value of $287,900 and active market may justify the trade.
Cost of Living Advisory: Lake County
Affordability Verdict
Lake County is moderately affordable for renters, with a median gross rent of $1,468/month representing approximately 25.2% of median household income. The rent burden (GRAPI) stands at 33.0%.
Rent vs. Own
At $1,468/month rent versus $1,096/month in owner costs, owning is roughly $372/month cheaper — a 25% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $58,720/year. For owner costs at the 28% rule, the required income is roughly $46,971/year. With a median household income of $69,956, most households can comfortably afford rent here. Notably, 33.0% of renter households in Lake County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Pinellas County where rent averages $1,525/month, Lake County is approximately 4% less expensive.
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
25.2%
of gross income
Max Housing (28% Rule)
$1,632
per month
Owner Cost Burden
18.8%
of gross income
The median home in Lake County may be a stretch
Median home value is $287,900. Estimated monthly cost: $2,298 vs. your max of $1,632.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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