The typical owner-occupied home in Lake Park is worth about $258,100, 15% below the Georgia median of $303,300 and 22% below the national median of $332,700. Owners pay a median $2,318 a year in property taxes, about 0.90% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $51,813 a year, so the median home costs 5.0 times the median income (3.9 times for Georgia). 59% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Lake Park at a glance
| Lake Park | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $258,100 | $303,300 | $332,700 |
| Median property tax paid per year | $2,318 | $2,341 | $3,119 |
| Property tax as a share of value | 0.90% | 0.77% | 0.94% |
| Median household income | $51,813 | $77,353 | $80,734 |
| Homes lived in by their owners | 59% | 66% | 65% |
| Owner homes with a mortgage | 71% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,736 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 20.0% | 21.0% |
| Median rent | $797 | $1,393 | $1,413 |
| Rent as a share of renters' income | 51.0% | 31.3% | 30.6% |
| Median year homes were built | 2005 | 1992 | 1980 |
| Vacant homes | 13.0% | 10.3% | 10.1% |
| Population | 1,234 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Lake Park
At this week's average 30-year rate of 7.11%, buying the median Lake Park home of $258,100 with 20% down costs about $1,690 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,120, 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 $72,434 for the 20%-down payment. That payment is 39% of the median Lake Park household income of $51,813; at that income and 20% down, the 28% guideline points to a home of about $185,000.
The median rent here is $797 a month, so owning the median home costs about $893 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $51,620 |
|---|---|
| Loan amount | $206,480 |
| Principal and interest | $1,389 |
| Property taxes (0.90% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| PMI | $0 |
| Total per month | $1,690 |
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| Down payment | $9,034 |
|---|---|
| Loan amount | $253,425 |
| Principal and interest | $1,705 |
| Property taxes (0.90% a year) | $194 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| FHA mortgage insurance | $114 |
| Total per month | $2,120 |
Change the numbers in the calculator
Questions about home buying in Lake Park
What is the median home value in Lake Park?
About $258,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Park?
Homeowners pay a median $2,318 a year, which is about 0.90% 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 Park?
For the median home with 20% down at 7.11%, the payment is about $1,690 a month. Keeping that under 28% of gross income takes about $72,434 a year.
More about Lake Park
- Mortgage Refinance in Lake Park
- Debt Relief in Lake Park
- Home Equity Loans in Lake Park
- 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