Cost of Living in Lake County, Tennessee
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 #1,892 of 3,144 counties for affordability (bottom 40%)
Data Story
About Cost of Living in Lake County, Tennessee
Lake County faces extreme national poverty
Lake County's median household income of $30,500 is less than 41% of the national average, making it one of America's poorest counties. The 18.6% rent-to-income ratio masks severe underlying deprivation: despite the lowest median rent ($472/month) in the region, residents struggle with the lowest incomes and most limited economic opportunity.
Tennessee's poorest county with strained housing
Lake County's $30,500 median household income ranks as Tennessee's lowest among counties studied, while its 18.6% rent-to-income ratio sits above the state average of 17.6%. This combination reflects a poverty crisis where even modest rents ($472/month) consume disproportionate shares of severely limited household earnings.
Cheapest rent, but bleakest economic picture
Lake's $472 median rent is the region's lowest by far—$213 below Houston and $332 below Jefferson—yet the county's $30,500 income dwarfs all neighbors by 37-52%. No amount of low rent compensates for the county's systemic poverty and lack of robust employment options.
Renters stretched despite lowest rents anywhere
Lake County renters dedicate 18.6% of the $30,500 median income to $472/month rent—a theoretical bargain that nonetheless consumes nearly a fifth of severely limited earnings. Homeowners fare comparatively better at 22% ($559/month), and the $107,000 median home value represents 3.5 years of gross income—daunting for a county with minimal economic mobility.
Lake County requires careful economic assessment
While Lake County offers the region's cheapest rent ($472/month), its extreme poverty and limited job market create serious relocation risks. Consider this county only if you have secure outside income, remote employment, or strong ties to a specific employer—low rent alone cannot offset systemic economic challenges.
Cost of Living Advisory: Lake County
Affordability Verdict
For renters in Lake County, the market is affordable. Expect to pay around $472/month in gross rent, with 28.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Lake County is $472/month, while owner costs run $559/month. Renting saves approximately $87/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $18,880/year. For owner costs at the 28% rule, the required income is roughly $23,957/year. With a median household income of $30,500, most households can comfortably afford rent here. Notably, 28.0% of renter households in Lake County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Clay County where rent averages $546/month, Lake County is approximately 14% less expensive.
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
18.6%
of gross income
Max Housing (28% Rule)
$712
per month
Owner Cost Burden
22.0%
of gross income
The median home in Lake County may be a stretch
Median home value is $107,000. Estimated monthly cost: $854 vs. your max of $712.
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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