Lake City, CO
Population 474 · Colorado
About Lake City, CO
Lake City is a small community located in Colorado with a population of 474 residents according to the latest US Census Bureau American Community Survey data. The median household income is $62,422 per year, which is 17% below the national median of $75,149. The median age of 54.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake City features a median home value of $409,300, which is 67% above the national median of $244,900. This places Lake City in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $965, 17% below the national average of $1,163/month. Of the 493 total housing units, 79% are owner-occupied (196 units) and 21% are renter-occupied (53 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake City shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake City have an average one-way commute time of 7.1 minutes, one of the shorter commutes in the region.
Education & Demographics
43.1% of Lake City residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 3.4% White, 3.8% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.3% of the population being foreign-born.
Cost of Living in Lake City, CO
Compared to national averages, Lake City has a median household income of $62,422 (17% below the national median of $75,149). Home values average $409,300, which is 67% above the national median. Monthly rent at $965 is 17% below the US average of $1,163. Within Colorado, Lake City's income is 29% below the state average of $88,514, and home values are 10% below the state median of $457,127.
Why Live in Lake City, CO?
Lake City offers rent that’s lower than the national average at $965/month, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 43.1% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.8%, better than the national average, and short commute times averaging just 7.1 minutes.
Potential considerations include median household income ($62,422) that falls below the national average, and a competitive housing market where the typical home costs $409,300. However, Lake City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake City has a population of 474 with a median age of 54.4 years. Compare Lake City with other cities to see how it stacks up, or explore all cities in Colorado.
Similar Cities Near Lake City
Cities in Colorado with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Downieville-Lawson-Dumont | 478 | $68,214 | $366,000 | Compare |
| De Beque | 466 | $63,646 | $215,000 | Compare |
| St. Ann Highlands | 483 | $182,568 | $880,700 | Compare |
| Westcliffe | 459 | $65,074 | $326,000 | Compare |
| Granada | 492 | $46,685 | $100,000 | Compare |
| Pine Brook Hill | 497 | $0 | $1,294,300 | Compare |
| Chacra | 449 | $0 | $1,019,000 | Compare |
| Mountain View | 500 | $108,269 | $554,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Colorado
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake City With Other Cities
Frequently Asked Questions about Lake City
What is the population of Lake City, CO?
The population of Lake City, CO is 474 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Colorado.
What is the median household income in Lake City?
The median household income in Lake City, CO is $62,422 per year, which is 17% below the national median of $75,149.
What is the median home value in Lake City?
The median home value in Lake City, CO is $409,300, which is 67% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake City?
The median monthly rent in Lake City, CO is $965, which is 17% below the national average of $1,163/month.
What is the unemployment rate in Lake City?
The unemployment rate in Lake City, CO is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake City, CO a good place to live?
Lake City offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 474 and a median age of 54.4, the city appeals to established professionals and retirees.
How educated is Lake City, CO?
43.1% of residents in Lake City aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lake City?
Key cost-of-living indicators for Lake City, CO: median home value is $409,300 (67% above national), median rent is $965/month, and median household income is $62,422. The home-value-to-income ratio is 6.6x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Lake City?
The poverty rate in Lake City, CO is 3.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake City, CO?
Lake City's population is 3.4% White, 3.8% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 1.3% of residents are foreign-born.