Similar to its surrounding areas, it is substantially less expensive compared to the entire country. Compared to the city of Cleveland however, it's a lot more expensive.
Home prices
The cost of the median home in Lake City is $120,200. This is approximately $4,740 (3%) lower in comparison to its surrounding areas.It is roughly $97,300 (44%) lower compared to the United States as a whole, and it is about $50,600 (72%) higher compared to the city of Cleveland.
Rents
Lake City's median monthly rent is $823. Compared to the surrounding areas it is roughly $43 (5%) higher.It is roughly $239 (22%) lower compared to the US as a whole, and in comparison to the city of Cleveland it is approximately $104 (14%) higher.
Nearby places
Girard
Girard is Lake City's neighbor to the southeast. Real estate prices there are a little more expensive. The median home in Girard costs $129,800, which works out to $9,600 (7%) higher than Lake City. Rents there are significantly less expensive. In Girard the median monthly rent is $587, which works out to $236 (40%) lower than Lake City.
Avonia
Avonia is roughly 3 miles northeast of Lake City. The housing prices there are somewhat more expensive. Avonia's median home cost is $170,600, which works out to $50,400 (29%) higher than Lake City. Its rents are a little more expensive. Avonia's median monthly rent is $1,073, which works out to $250 (23%) higher than Lake City.
Platea
Platea is approximately 4 miles south of Lake City. Its housing prices are a little more expensive. The value of the median home in Platea is $139,700, which is $19,500 (13%) higher than Lake City. Rents there are a little more expensive. Platea's median rent is $975 a month, which comes out to $152 (15%) higher than Lake City.
Cranesville
Cranesville is roughly 7 miles south of Lake City. Housing prices there are substantially less expensive. Cranesville's median home value is $88,700, which is $31,500 (35%) lower than Lake City. Rent there is somewhat less expensive. In Cranesville the median rent is $725 a month, which comes out to $98 (13%) lower than Lake City.
Albion
Albion is approximately 8 miles south from Lake City. Real estate prices there are somewhat less expensive. Albion's median home price is $95,900, which works out to $24,300 (25%) lower than Lake City. Rents there are substantially less expensive. In Albion the median rent is $540 per month, which works out to $283 (52%) lower than Lake City.
