The typical owner-occupied home in Lake County is worth about $219,500, 54% below the Oregon median of $477,600 and 34% below the national median of $332,700. Owners pay a median $1,563 a year in property taxes, about 0.71% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $62,787 a year, so the median home costs 3.5 times the median income (5.8 times for Oregon). 67% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Lake County at a glance
| Lake County | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $219,500 | $477,600 | $332,700 |
| Median property tax paid per year | $1,563 | $3,876 | $3,119 |
| Property tax as a share of value | 0.71% | 0.81% | 0.94% |
| Median household income | $62,787 | $83,011 | $80,734 |
| Homes lived in by their owners | 67% | 63% | 65% |
| Owner homes with a mortgage | 46% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,411 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 20.4% | 22.4% | 21.0% |
| Median rent | $878 | $1,525 | $1,413 |
| Rent as a share of renters' income | 31.0% | 31.3% | 30.6% |
| Median year homes were built | 1972 | 1981 | 1980 |
| Vacant homes | 17.8% | 7.5% | 10.1% |
| Population | 8,267 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Lake County
At this week's average 30-year rate of 7.11%, buying the median Lake County home of $219,500 with 20% down costs about $1,403 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,768, 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 $60,111 for the 20%-down payment. That payment is 27% of the median Lake County household income of $62,787; at that income and 20% down, the 28% guideline points to a home of about $229,000.
The median rent here is $878 a month, so owning the median home costs about $525 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,900 |
|---|---|
| Loan amount | $175,600 |
| Principal and interest | $1,181 |
| Property taxes (0.71% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $91 |
| PMI | $0 |
| Total per month | $1,403 |
Change the numbers in the calculator
| Down payment | $7,682 |
|---|---|
| Loan amount | $215,524 |
| Principal and interest | $1,450 |
| Property taxes (0.71% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $91 |
| FHA mortgage insurance | $97 |
| Total per month | $1,768 |
Change the numbers in the calculator
Questions about home buying in Lake County
What is the median home value in Lake County?
About $219,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake County?
Homeowners pay a median $1,563 a year, which is about 0.71% 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 County?
For the median home with 20% down at 7.11%, the payment is about $1,403 a month. Keeping that under 28% of gross income takes about $60,111 a year.
More about Lake County
- Mortgage Refinance in Lake County
- Debt Relief in Lake County
- Home Equity Loans in Lake County
- 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