Lake Mary, FL
Population 16,724 · Florida
About Lake Mary, FL
Lake Mary is a mid-sized city located in Florida with a population of 16,724 residents according to the latest US Census Bureau American Community Survey data. The median household income is $116,944 per year, which is 56% above the national median of $75,149. The median age of 43.1 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 Mary features a median home value of $462,200, which is 89% above the national median of $244,900. This places Lake Mary in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,999, 72% above the national average of $1,163/month. Of the 7,319 total housing units, 66% are owner-occupied (4,609 units) and 34% are renter-occupied (2,331 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Lake Mary shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Mary have an average one-way commute time of 24.6 minutes.
Education & Demographics
54.4% of Lake Mary residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.3% White, 1.7% Hispanic or Latino, 4.8% Black or African American, and 6.8% Asian residents, with 17.1% of the population being foreign-born.
Cost of Living in Lake Mary, FL
Compared to national averages, Lake Mary has a median household income of $116,944 (56% above the national median of $75,149). Home values average $462,200, which is 89% above the national median. Monthly rent at $1,999 is 72% above the US average of $1,163. Within Florida, Lake Mary's income is 54% above the state average of $75,893, and home values are 31% above the state median of $353,675.
Why Live in Lake Mary, FL?
Lake Mary offers a strong local economy with a median household income of $116,944, well above the national average, and a strong job market with an unemployment rate of just 2.4%, and a well-educated community where 54.4% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.2%, better than the national average, and short commute times averaging just 24.6 minutes.
Potential considerations include a competitive housing market where the typical home costs $462,200. However, Lake Mary’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Mary has a population of 16,724 with a median age of 43.1 years. Compare Lake Mary with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Lake Mary
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Wildwood | 16,739 | $71,858 | $419,700 | Compare |
| Vero Beach | 16,785 | $67,351 | $392,500 | Compare |
| Myrtle Grove | 16,637 | $63,011 | $182,600 | Compare |
| Mount Dora | 16,812 | $69,931 | $316,100 | Compare |
| Belle Glade | 16,818 | $47,191 | $141,100 | Compare |
| Palmetto Estates | 16,587 | $82,199 | $412,200 | Compare |
| Three Lakes | 16,426 | $91,364 | $434,800 | Compare |
| Safety Harbor | 17,040 | $105,813 | $433,300 | 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 Mary With Other Cities
Frequently Asked Questions about Lake Mary
What is the population of Lake Mary, FL?
The population of Lake Mary, FL is 16,724 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 Mary?
The median household income in Lake Mary, FL is $116,944 per year, which is 56% above the national median of $75,149.
What is the median home value in Lake Mary?
The median home value in Lake Mary, FL is $462,200, which is 89% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Mary?
The median monthly rent in Lake Mary, FL is $1,999, which is 72% above the national average of $1,163/month.
What is the unemployment rate in Lake Mary?
The unemployment rate in Lake Mary, FL is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Mary, FL a good place to live?
Lake Mary offers above-average incomes, a competitive housing market, and a strong job market. With a population of 16,724 and a median age of 43.1, the city appeals to a broad range of residents.
How educated is Lake Mary, FL?
54.4% of residents in Lake Mary 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 Mary?
Key cost-of-living indicators for Lake Mary, FL: median home value is $462,200 (89% above national), median rent is $1,999/month, and median household income is $116,944. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in Lake Mary?
The poverty rate in Lake Mary, FL is 2.2%, 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 Mary, FL?
Lake Mary's population is 0.3% White, 1.7% Hispanic or Latino, 4.8% Black or African American, 6.8% Asian, and 10.2% two or more races. 17.1% of residents are foreign-born.