Lake, FL

Very Low · 63

Florida · Population 12,404 · Updated March 2026

$940
Median Rent / Month
$51,175
Median Income
$178,600
Median Home Value
$928
Owner Costs / Month

Affordability

How far your income goes in Lake

22.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$11,280
Annual Rent
$0
State Income Tax
$1,536
Property Tax (est.)

Cost of Living Overview

Lake is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 63 (where 100 equals the national median), Lake residents can expect to pay median rent of $940/month while earning a median household income of $51,175/year.

The median home value in Lake, FL is $178,600, with typical monthly owner costs around $928 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Lake.

Frequently Asked Questions

Common questions about living costs in Lake

What is the cost of living in Lake, FL?
The cost of living index in Lake, FL is 63 (US average = 100). Median monthly rent is $940, median household income is $51,175/year, and the median home value is $178,600.
Is Lake, FL affordable?
Yes, Lake is more affordable than the national average with a cost index of 63. The rent-to-income ratio is 22.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake, FL?
The median gross rent in Lake, FL is $940 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,280.
What is the median household income in Lake?
The median household income in Lake, FL is $51,175 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.