Lake City, FL
Population 12,404 · Florida
About Lake City, FL
Lake City is a mid-sized city located in Florida with a population of 12,404 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,175 per year, which is 32% below the national median of $75,149. The median age of 38.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lake City features a median home value of $178,600, which is 27% below the national median of $244,900. This positions Lake City in a moderately priced market relative to the rest of the country. Median monthly rent is $940, 19% below the national average of $1,163/month. Of the 5,487 total housing units, 40% are owner-occupied (1,943 units) and 60% are renter-occupied (2,936 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Lake City shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 22.6%, above the national average of 12.4%. Workers in Lake City have an average one-way commute time of 22.1 minutes.
Education & Demographics
25.4% 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 0.7% White, 1.2% Hispanic or Latino, 2.5% Black or African American, and 0.7% Asian residents, with 3.6% of the population being foreign-born.
Cost of Living in Lake City, FL
Compared to national averages, Lake City has a median household income of $51,175 (32% below the national median of $75,149). Home values average $178,600, which is 27% below the national median. Monthly rent at $940 is 19% below the US average of $1,163. Within Florida, Lake City's income is 33% below the state average of $75,893, and home values are 50% below the state median of $353,675.
Why Live in Lake City, FL?
Lake City offers affordable housing with a median home value of $178,600, below the US average of $244,900, and rent that’s lower than the national average at $940/month, and short commute times averaging just 22.1 minutes.
Potential considerations include median household income ($51,175) that falls below the national average. However, Lake City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake City has a population of 12,404 with a median age of 38.2 years. Compare Lake City with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Lake City
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Jensen Beach | 12,456 | $63,397 | $363,100 | Compare |
| Doctor Phillips | 12,458 | $101,540 | $484,000 | Compare |
| Goldenrod | 12,603 | $62,410 | $332,700 | Compare |
| Sarasota Springs | 12,669 | $89,646 | $310,400 | Compare |
| Highland City | 12,732 | $88,628 | $301,600 | Compare |
| Key Largo | 12,069 | $78,906 | $626,300 | Compare |
| Goulds | 12,019 | $58,291 | $415,100 | Compare |
| Florida City | 12,791 | $47,754 | $353,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
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, FL?
The population of Lake City, FL is 12,404 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Florida.
What is the median household income in Lake City?
The median household income in Lake City, FL is $51,175 per year, which is 32% below the national median of $75,149.
What is the median home value in Lake City?
The median home value in Lake City, FL is $178,600, which is 27% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Lake City?
The median monthly rent in Lake City, FL is $940, which is 19% below the national average of $1,163/month.
What is the unemployment rate in Lake City?
The unemployment rate in Lake City, FL is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lake City, FL a good place to live?
Lake City offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 12,404 and a median age of 38.2, the city appeals to a broad range of residents.
How educated is Lake City, FL?
25.4% of residents in Lake City aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lake City?
Key cost-of-living indicators for Lake City, FL: median home value is $178,600 (27% below national), median rent is $940/month, and median household income is $51,175. The home-value-to-income ratio is 3.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake City?
The poverty rate in Lake City, FL is 22.6%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lake City, FL?
Lake City's population is 0.7% White, 1.2% Hispanic or Latino, 2.5% Black or African American, 0.7% Asian, and 31.8% two or more races. 3.6% of residents are foreign-born.