Lake Wales, FL
Population 16,365 · Florida
About Lake Wales, FL
Lake Wales is a mid-sized city in Florida with a population of 16,365 residents. The median household income is $55,799 per year, which is near the national average. The median age in Lake Wales is 41.1 years.
Housing in Lake Wales has a median home value of $225,900 and median monthly rent of $1,060. Of the 7,961 total housing units, the majority are owner-occupied, with 3,999 owner-occupied and 2,561 renter-occupied units.
The unemployment rate in Lake Wales is 6.3% and the poverty rate is 24.4%. 22.0% of residents hold a bachelor's degree or higher. The average commute time is 26.4 minutes.
Cost of Living in Lake Wales, FL
Compared to national averages, Lake Wales has a median household income of $55,799 (26% below the national median of $75,149). Home values average $225,900, which is 8% below the national median. Monthly rent at $1,060 is 9% below the US average of $1,163. Within Florida, Lake Wales's income is 26% below the state average of $75,893, and home values are 36% below the state median of $353,675.
Why Live in Lake Wales, FL?
Lake Wales offers affordable housing with a median home value of $225,900, below the US average of $244,900, and rent that’s lower than the national average at $1,060/month.
Potential considerations include median household income ($55,799) that falls below the national average. However, Lake Wales’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Wales has a population of 16,365 with a median age of 41.1 years. Compare Lake Wales with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Lake Wales
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Brownsville | 16,391 | $38,460 | $285,100 | Compare |
| Lady Lake | 16,337 | $47,260 | $217,900 | Compare |
| Three Lakes | 16,426 | $91,364 | $434,800 | Compare |
| Palmetto Estates | 16,587 | $82,199 | $412,200 | Compare |
| Azalea Park | 16,110 | $64,585 | $255,000 | Compare |
| Opa-locka | 16,097 | $31,680 | $281,000 | Compare |
| Myrtle Grove | 16,637 | $63,011 | $182,600 | Compare |
| Niceville | 16,043 | $96,611 | $381,700 | 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.
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Frequently Asked Questions about Lake Wales
What is the population of Lake Wales, FL?
The population of Lake Wales, FL is 16,365 according to the latest Census data.
What is the median household income in Lake Wales?
The median household income in Lake Wales, FL is $55,799 per year.
What is the median home value in Lake Wales?
The median home value in Lake Wales, FL is $225,900.
What is the average rent in Lake Wales?
The median monthly rent in Lake Wales, FL is $1,060.
What is the unemployment rate in Lake Wales?
The unemployment rate in Lake Wales, FL is 6.3%.