Quick facts: Lake city, FL

Quick Facts

90.5
Cost of Living
below US average
12,449
Population
69.24
Crime Rate per 1000
above US average
$46,172
Median Income
below US average
$224,500
Median House Price
above US average
$1484.12
Average Rent
above US average
14%
Poverty Rate
above US average
3.0%
Unemployment Rate
below 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 $46,172.

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Income Needed to Buy

βœ— Stretch
$70k/year
Based on $224,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $70k vs median $46,172
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Income Needed to Rent

⚠ Stretch
$64k/year
Based on $1484.12/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $64k vs median $46,172
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lake city, FL

Lake City, located in north-central Florida, serves as the county seat of Columbia County. Nestled between the Ichetucknee River and the scenic Osceola National Forest, this small city is known for its natural beauty and outdoor recreational opportunities. Founded in the 19th century, Lake City boasts a rich history with several historic landmarks, including the Columbia County Courthouse and the old train depot. The city is also home to various parks and recreational areas, such as Alligator Lake Park, offering fishing, boating, and hiking options. Lake City is strategically positioned near major highways, making it a convenient stop for travelers heading to larger cities like Gainesville and Jacksonville. The local economy is diverse, with industries ranging from agriculture to retail and healthcare. With a population of approximately 12,000 residents, Lake City embodies a tight-knit community atmosphere, celebrating local events and festivals throughout the year. Its proximity to natural attractions like the Suwannee River and nearby springs makes it an ideal spot for nature enthusiasts. Overall, Lake City is a charming destination that combines small-town warmth with access to Florida's natural wonders.

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