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City Report · FL

Lake City

Pop. 12,515·282nd most expensive in Florida·Rental market data updated monthly for Lake City, FL
Median rent (all units)
$1,540/mo
Year-over-Year
+0.7%
Month-over-Month
+2.9%
vs US Median
-$425
Rising (Monthly)
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Most AffordableMost Expensive
Lake City · $1,540
More affordable than 73% of US cities · National median $1,965/mo
Rent Reality Score
60/100
Good value
OverheatedFairGreat value

Rents are 5% below what Lake City's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,540/mo
Expected by trend
$1,619/mo
The Rent Reality Score compares today's median rent to where Lake City's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$840
1 BR
$850
2 BR
$1,110
3 BR
$1,350
4 BR+
$1,470
Research median
$1,110/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$18,480/yr
At $1,540/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.7% YoY, +2.9% MoM), not inventory.
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Demographics

Who lives here

Lake City, FL is majority renter-occupied, has a large share of families with children, has a median income below the national average, 23.7% of residents hold a bachelor's degree or higher.

Population
12,515
Median income
$56,472
Median age
36.9
Renters
60.1%
Age distribution
25.8%
21.4%
26.3%
17.9%
Under 1825.8%
18–3421.4%
35–5426.3%
55–648.6%
65+17.9%
Gender
50.4%
49.6%
Male50.4%
Female49.6%
Race & ethnicity
57.5%
32.5%
White57.5%
Black32.5%
Hispanic4.7%
Asian1.3%
Other3.9%
Education (25+)
32.3%
33%
23.7%
No HS diploma11%
HS diploma32.3%
Some college33%
Bachelor's+23.7%
Housing tenure
39.9%
60.1%
Owner39.9%
Renter60.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lake City, FL has changed in 5 years

Income
$43,396 → $56,472
up 30.1%
Population
12,325 → 12,515
up 1.5%
Renter share
58.1% → 60.1%
+2.0 pts
Bachelor's+
24.1% → 23.7%
-0.4 pts
Median age
35.9 → 36.9
+1.0 yrs

Household income in the area moved from $43,396 to $56,472 across the same window, up 30.1% versus 2021. The population has grown by 1.5% since 2021, moving from about 12,325 residents to roughly 12,515. Renters now make up 60.1% of households, compared with 58.1% five years ago.

Community

Discussions about Lake City

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View Lake City rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lake City on your salary?

At $1,540/mo, how Lake City rent compares to typical pay (30% rule).

By apartment size

Lake City rent by bedroom count

Median rent for each apartment size in Lake City. Click any size for full breakdown.

Local insights

Tips for renters in Lake City

About renting in Lake City, FL

Last updated: July 20, 2026

The median rent in Lake City is $1,540/mo as of July 2026. A studio apartment averages $840/mo while a 2-bedroom runs $1,110/mo. One-bedroom apartments average $850/mo and 3-bedroom units go for $1,350/mo.

At 33% of local median household income ($56,472/yr), Lake City ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.7% over the past year.

FAQ

Frequently asked questions

Is Lake City an affordable city for renters?

Lake City is considered moderate for renters. At $1,540/mo, rent takes approximately 33% of the local median household income ($56,472/yr). The standard benchmark is 30%. Lake City slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Lake City?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,540/mo in Lake City. The local median household income is $56,472/yr, meaning the typical Lake City household falls short of that threshold.

Is rent going up or down in Lake City?

Rent in Lake City has increased 0.7% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Lake City rent compare to other cities in Florida?

Lake City is one of the more affordable cities in Florida for rent, ranking #282 out of 288 tracked cities at $1,540/mo.

What percentage of Lake City residents rent vs. own?

According to Census data, approximately 60.1% of Lake City households are renters, while 39.9% are owner-occupied. With a majority renter population, Lake City has a strong rental market.

How does Lake City rent compare to the national average?

Lake City's median rent of $1,540/mo is $425 (22%) below the US national median of $1,965/mo. Within Florida, it ranks #282 out of 288 tracked cities.
Income Affordability
33%
MODERATE

At $1,540/mo, rent takes ~33% of Lake City's median household income ($56,472/yr). The standard benchmark is 30%.

Lake City 33%Benchmark 30%
State income taxNone
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lake City, FL

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