Rents are 9% below what Lake Mary's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,942 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
March. Asking rents in Lake Mary usually run 0.8% below trend in March and 0.7% above it in June, about $29 a month apart at today's median. Based on 11 years of data.
Rent in Lake Mary is at its highest level since Zillow's records here began in January 2015.
Rent in Lake Mary changed +2.4% over the year to September 2026. Across the 270 Florida cities Zillow tracks, the typical change was +1.8%.
From 2019 to 2024, rent in Lake Mary rose 35.6% while median household income rose 12.6% ($96,983 to $109,173). Rent outpaced income.
Rent in Lake Mary is 37.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 6 of the last 12 months.
30% of the median household income ($109,173) is $2,729 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,230); a 3-bedroom is $2,830.
Altamonte Springs, 8 miles away, rents for 18% less ($1,588/mo), about $4,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Lake Mary. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Lake Mary, FL is majority owner-occupied, has a median income above the national average, 50.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lake Mary, FL has changed in 5 years
Five years ago, renters in Lake Mary, FL paid around $1,500 a month. That figure now sits near $1,942, up 29.5% from the 2021 baseline. Median household income climbed from $94,770 to $109,173 between 2021 and 2024, a 15.2% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Lake Mary, FL adding about 401 residents over the five-year window, up 2.4% on net. The renter share has risen from 31.9% to 37.1%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in Lake Mary, FL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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At $1,942/mo, how Lake Mary rent compares to typical pay (30% rule).
Lake Mary rent by bedroom count
Median rent for each apartment size in Lake Mary. Click any size for full breakdown.
Tips for renters in Lake Mary
Last updated: October 17, 2026
The median rent in Lake Mary is $1,942/mo as of October 2026. A studio apartment averages $1,860/mo while a 2-bedroom runs $2,230/mo. One-bedroom apartments average $1,970/mo and 3-bedroom units go for $2,830/mo.
At 21% of local median household income ($109,173/yr), Lake Mary ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Lake Mary?
At $1,942/mo, rent takes ~21% of Lake Mary's median household income ($109,173/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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