Quick facts: Lake butler, FL

Quick Facts

107.5
Cost of Living
above US average
17,765
Population
1.41
Crime Rate per 1000
below US average
$150,316
Median Income
above US average
$205,000
Median House Price
above US average
$1250.0
Average Rent
below US average
10%
Poverty Rate
below US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $150,316.

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Income Needed to Buy

βœ“ Affordable
$64k/year
Based on $205,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($150,316) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$54k/year
Based on $1250.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($150,316) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lake butler, FL

Lake Butler is a charming city located in Union County, Florida. With a population of approximately 1,900 residents, it exudes a small-town atmosphere that is characteristic of many rural communities in the Sunshine State. Nestled amidst beautiful natural surroundings, Lake Butler is well-known for its picturesque lakes and parks, making it an ideal location for outdoor activities like fishing, hiking, and camping. The city serves as a focal point for the local community with its close-knit neighborhoods and friendly residents. Lake Butler is also home to several historical sites, reflecting its rich cultural heritage. The Union County Historical Society plays a vital role in preserving local history. Local amenities include schools, shops, and dining options that cater to residents. Lake Butler hosts various events throughout the year, fostering a sense of community and bringing people together. Its proximity to larger cities, such as Gainesville and Jacksonville, provides residents with easy access to urban amenities while enjoying the tranquility of rural life. Overall, Lake Butler is a serene locale with a unique blend of history, nature, and community spirit.

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