The typical owner-occupied home in Lake Alfred is worth about $239,900, 33% below the Florida median of $359,000 and 28% below the national median of $332,700. Owners pay a median $1,660 a year in property taxes, about 0.69% of their home's value, lower than the Florida rate of 0.76%. The median household earns $67,202 a year, so the median home costs 3.6 times the median income (4.8 times for Florida). 70% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Lake Alfred at a glance
| Lake Alfred | Florida | U.S. | |
|---|---|---|---|
| Median home value | $239,900 | $359,000 | $332,700 |
| Median property tax paid per year | $1,660 | $2,730 | $3,119 |
| Property tax as a share of value | 0.69% | 0.76% | 0.94% |
| Median household income | $67,202 | $74,568 | $80,734 |
| Homes lived in by their owners | 70% | 68% | 65% |
| Owner homes with a mortgage | 61% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,810 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 17.1% | 23.6% | 21.0% |
| Median rent | $1,349 | $1,669 | $1,413 |
| Rent as a share of renters' income | 41.8% | 35.2% | 30.6% |
| Median year homes were built | 1989 | 1988 | 1980 |
| Vacant homes | 9.0% | 14.7% | 10.1% |
| Population | 7,277 | 22,416,077 | 334,922,499 |
What a typical home costs per month in Lake Alfred
At this week's average 30-year rate of 7.11%, buying the median Lake Alfred home of $239,900 with 20% down costs about $1,529 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,929, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $65,527 for the 20%-down payment. That payment is 27% of the median Lake Alfred household income of $67,202; at that income and 20% down, the 28% guideline points to a home of about $246,000.
The median rent here is $1,349 a month, so owning the median home costs about $180 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,980 |
|---|---|
| Loan amount | $191,920 |
| Principal and interest | $1,291 |
| Property taxes (0.69% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| PMI | $0 |
| Total per month | $1,529 |
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| Down payment | $8,396 |
|---|---|
| Loan amount | $235,555 |
| Principal and interest | $1,585 |
| Property taxes (0.69% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $100 |
| FHA mortgage insurance | $106 |
| Total per month | $1,929 |
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Questions about home buying in Lake Alfred
What is the median home value in Lake Alfred?
About $239,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Alfred?
Homeowners pay a median $1,660 a year, which is about 0.69% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Lake Alfred?
For the median home with 20% down at 7.11%, the payment is about $1,529 a month. Keeping that under 28% of gross income takes about $65,527 a year.
More about Lake Alfred
- Mortgage Refinance in Lake Alfred
- Debt Relief in Lake Alfred
- Home Equity Loans in Lake Alfred
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data