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)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Lake County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lake County ranks #54 of 3,142 counties for affordability (top 2%)
Sourced county brief
Lake County Median Home Value Estimated at 97,900 Dollars
The median home value in Lake County is $97,900, a figure that is $125,485 below the Tennessee unweighted county mean of $223,385. The county's median gross rent as a percentage of household income (GRAPI) is 28.3 percent, which is 1.4 percentage points higher than the state unweighted county mean of 26.9 percent for the official B25071 table. Median renter-household income was recorded at $15,833. For those paying rent, the median gross rent was estimated at $532 per month, below the Tennessee unweighted county mean of $893. The median selected monthly owner cost for owner-occupied units is $551, while the state unweighted county mean is $788. These figures provide a statistical overview of the county's housing cost structure and median incomes for renter-occupied households. See ACS table B25077 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Lake County
Affordability Verdict
ACS B25071 estimates median gross rent at 28.3% of renter household income in Lake County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $532 per month; median selected monthly owner costs are $551. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $21,280 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Tennessee unweighted mean of county median rents is $893 per month. Lake County's $532 median is 40.4% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Lake County
Rent Burden
22.2%
of gross income
Max Housing (28% Rule)
$672
per month
Owner Cost Burden
22.9%
of gross income
The median home in Lake County may be a stretch
Median home value is $97,900. Estimated monthly cost: $782 vs. your max of $672.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
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
What is the cost of living in Lake County, Tennessee?
What is the median rent in Lake County?
Is Lake County affordable?
How does Lake County's rent compare to the state average?
What is the median home value in Lake County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Lake County, Tennessee? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Lake County
Whether you're buying in Lake County, Tennessee, or refinancing, compare rates from top lenders using the terms each lender provides.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). Data is informational only and is not personalized financial advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.