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City · 5,988 residents · Florence County, South Carolina

Lake City , South Carolina

In Lake City, a typical home is worth $144,300 and typical rent is $702 a month. Compared with all of Florence County, typical household income is 42% lower, typical rent is 26% lower, and the share of households that own their home is 21 points lower.

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  • Typical home value

    $144,300

    19% below the county

    44% below South Carolina

    • Lake City
    • Florence
    • South Carolina

  • Typical rent

    $702a month

    26% below the county

    41% below South Carolina

    • Lake City
    • Florence
    • South Carolina

  • Typical household income

    $33,600a year

    42% below the county

    52% below South Carolina

    • Lake City
    • Florence
    • South Carolina

  • Households that own their home

    44%

    21 points below the county

    28 points below South Carolina

    • Lake City
    • Florence
    • South Carolina

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$127,366
1.9% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Lake City is in Florence County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Florence County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lake City apart

What this place has that others do not, from public data, most unusual first.

  1. Lake City has the 3rd lowest typical household income of the 101 cities in South Carolina with more than 5,000 people ($33,600).

  2. Lake City has the 4th lowest typical rent of the 100 cities in South Carolina with more than 5,000 people ($702).

  3. 44% of households in Lake City own their home, against 65% in Florence County.

  4. The typical home in Lake City is worth $144,300, 19% less than in Florence County as a whole ($177,900).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lake City

What homes there are in Lake City, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house rules in Lake City: 67% of homes, more than in Florence County (63%).

Year built

Homes in Lake City are older: the typical year built is 1973; in Florence County, 1986.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,139 a month

Florence County: $1,354 a month

Without a mortgage

$453 a month

Florence County: $420 a month

Owners with a mortgage

50%

Florence County: 54%

The typical cost for an owner with a mortgage in Lake City is $1,139 a month, less than in Florence County ($1,354); without one, $453.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Lake City rose 61% since 2015–2019, more than in Florence County (35%).

The typical rent in Lake City stayed about the same over that time: the difference is within the Census margin of error.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLake CityFlorence CountySouth CarolinaUnited States
Rental vacancy Unreliable estimate7.3%8.3%5.5%
Homeowner vacancy Unreliable estimate1.2%0.9%0.9%
More than one person per room Unreliable estimate2.5%2.0%3.4%
People per household 2.282.532.442.53
Drive alone 69%79%76%69%
Carpool Unreliable estimate9%9%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimate1%2%3%
Work from home Unreliable estimate9%12%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes20 to 29 minutes

Households in Lake City are smaller: 2.28 people on average; in Florence County, 2.53.

To get to work, 69% of workers in Lake City drive alone; in Florence County, 79%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lake City?

A typical home costs more than the typical income allows

We start with a typical home in Lake City, worth $144,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Lake City, which is $33,600 a year. For that payment to be 28% of income, a household would need to earn about $48,509 a year.

The calculator's FHA and conventional loan limits are those of all of Florence County.

Your numbers

Local data
$

Starts at the typical home value in Lake City. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,051 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,132

at 7.18% · 30 years

Loan amount
$141,686
Total interest
$203,853
Paid off in
November 2056

Includes $2,437 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $784 a month

  • Tight

    $784 to $1,008 a month

  • Hard

    more than $1,008 a month

    Your payment · 40%

Compared with the typical household income in Lake City ($33,600 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,132
Principal & interest$960
Property tax$48
Home insurance$60
FHA mortgage insurance (MIP)$64

You need at least $5,051 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lake City and Florence County

Lake City is in Florence County, South Carolina. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lake City's own numbers

Typical home value
$144,300
Typical monthly rent
$702
Typical yearly household income
$33,600
Households that own their home
44%
Effective property tax rate
0.4%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Florence County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,121
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Florence County.

Everything about Florence County

Buying

Buying a home in Lake City

A typical home in Lake City is worth $144,300: 19% below the county and 44% below South Carolina. With the typical household income in Lake City ($33,600 a year), a typical home costs 4.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lake City 4.3 years
  • Florence 3.1 years
  • South Carolina 3.7 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Florence County

According to FHFA’s house price index, home prices in Florence County rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Florence County.

Period County South Carolina U.S.
Last year (2025) +8.5% +3.6% +2.9%
5 years (2020–2025) +51% +60% +47%
10 years (2015–2025) +72% +104% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lake City next to Florence County, South Carolina and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lake City $144,300
  • Florence $177,900
  • South Carolina $259,000
  • United States $332,700
Typical monthly rent
  • Lake City $702
  • Florence $954
  • South Carolina $1,180
  • United States $1,413
Typical yearly household income
  • Lake City $33,600
  • Florence $58,305
  • South Carolina $69,324
  • United States $80,734
See the full table
Lake City next to Florence County and South Carolina
Measure Lake City Florence County South Carolina U.S.
Typical home value $144,300 $177,900 $259,000 $332,700
Typical monthly rent $702 $954 $1,180 $1,413
Typical yearly household income $33,600 $58,305 $69,324 $80,734
Households that own their home 44% 65% 72% 65%
Typical yearly property tax $577 $756 $1,251 $3,119
Effective property tax rate 0.4% 0.42% 0.48% 0.94%
Renters with high rent for their income 58% 51% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Florence County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lake City

For a typical $144,300 home in Lake City, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lake City's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,132a month

    Least cash to close
    Down payment
    $5,051
    Cash to close
    $9,380
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $64

  • Conventional, 5% down $1,105a month

    Down payment
    $7,215
    Cash to close
    $11,544
    Rate
    7.18%
    Mortgage insurance
    PMI · $69

  • Conventional, 20% down, no PMI $890a month

    Down payment
    $28,860
    Cash to close
    $33,189
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,024a month

    Down payment
    $21,645
    Cash to close
    $25,974
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lake City and for Florence County.

Property tax

Effective rate in Lake City

0.4%of the home’s value each year

$577 a year for the typical owner in Lake City.

  • Lake City 0.4%
  • Florence 0.42%
  • South Carolina 0.48%

What South Carolina publishes Special 4% assessment ratio for your legal residence (South Carolina General Assembly (South Carolina Code of Laws))

Exemptions and deadlines in South Carolina

Flood risk in Florence County

FEMA does not publish these numbers by city: they are for all of Florence County.

Homes in the high-risk zone
1%
478
Of those, with NFIP insurance
29%
County South Carolina U.S.
Homes in the high-risk zone 1% 4% 3.5%
Of those, with NFIP insurance 29% 85% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lake City

Typical rent in Lake City is $702 a month: 26% below the county. In Lake City, 58% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Florence County, by unit size. To pay the 2-bedroom one ($1,121 a month) without spending more than 30% of your income, you would need to earn $21.56 an hour working full time.

HUD fair market rent for all of Florence County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $982 $18.88 $39,280
1 bedroom $987 $18.98 $39,480
2 bedrooms $1,121 $21.56 $44,840
3 bedrooms $1,444 $27.77 $57,760
4 bedrooms $1,545 $29.71 $61,800

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lake City

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lake City is in ZIP code 29560.

For 2 bedrooms it is $1,010: $111 less than the fair market rent for Florence County ($1,121).

  • 29560 $1,010$1,300

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lake City when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Lake City

HUD lists 10 buildings with rents for lower incomes in Lake City. These are the largest.

  • Mingle Court, Brentwood Circle 398 N Matthews Rd, Lake City 29560 187 low-income homes · For families (843) 374-3541
  • Durant Drive Apt-Lake City HA 398 N Matthews Rd, Lake City 29560 100 low-income homes · For families (843) 374-3541
  • Palmetto Ridge Estates 889 N Matthews Rd, Lake City 29560 56 low-income homes · 2 bd: 38 · 3 bd: 18 · In service since 2010
  • Wren Village 104 N Matthews Rd, Lake City 29560 50 low-income homes · For families (843) 374-3541
  • Highland Pointe 201 Highland Pointe Dr, Lake City 29560 48 low-income homes · 2 bd: 20 · 3 bd: 24 · 4 bd: 4 · In service since 2015 · For families

See all 45 buildings in Florence County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Lake City

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Florence County; none says it serves in Spanish.

A man listens closely, seated at a meeting table.

HUD counseling is free or low-cost

Assistance programs in Lake City

1 program is for Lake City or Florence County, by its own record: they come first, each with what its official page says about being open. The ones below are statewide in South Carolina: they work in Lake City the same as in the rest of the state.

Which programs do I qualify for? All programs in South Carolina

  • County First Initiative

    For Florence County

    South Carolina state agency rural initiative for certain counties: an FHA, USDA or VA mortgage at a special fixed rate with forgivable down payment assistance, for first-time buyers and for people who have owned a home before. Offered by SC Housing (South Carolina State Housing Finance and Development Authority).

    Forgivable

    See the program Official page

  • Palmetto Home Advantage

    Statewide in South Carolina

    South Carolina state agency program with forgivable down payment assistance of 0%, 3% or 4% of the loan, with no monthly payments, for any buyer in all 46 counties. Offered by SC Housing (South Carolina State Housing Finance and Development Authority).

    Forgivable

    See the program Official page

  • SC Housing Homebuyer Program

    Statewide in South Carolina

    South Carolina state agency fixed-rate mortgage with forgivable help for the down payment, closing costs or prepaid expenses: a 0% second mortgage with no monthly payments, forgiven if you live in the home 15 years. Offered by SC Housing (South Carolina State Housing Finance and Development Authority).

    Forgivable

    See the program Official page

Housing counselors near Lake City

The HUD-approved agencies closest to the center of Lake City, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • City of Florence

    324 W Evans St, Florence · 23 miles away

    • Fair housing pre-purchase workshops
    • Pre-purchase counseling
    • and 2 more
    (843) 665-3175

  • Increasing H.o.p.e. Financial Training Center

    8570 Rivers Ave, North Charleston · 65 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (843) 225-4343

  • Origin SC

    8084 Rivers Ave, North Charleston · 65 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (843) 628-3000

Every agency in Florence County All counseling agencies in South Carolina

Help in Spanish near Lake City

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lake City

HUD’s record names them for Lake City or Florence County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of Lake City Public housing and Section 8 vouchers (843) 374-4048

One other authority has an office in Florence County: see the list Source: HUD

Cities

Other cities in Florence County

These cities are also in Florence County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Florence County Housing in South Carolina

Nearby cities

The cities closest to Lake City, with the typical home value.

Neighboring counties

If Florence County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lake City.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Lake City

Short answers with the numbers for Lake City and all of Florence County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lake City?

The typical home value in Lake City is $144,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Florence County it is $177,900.

How much does it cost to rent in Lake City?

Typical rent in Lake City is $702 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Florence County is $1,121.

What is the FHA loan limit in Lake City?

Lake City uses the FHA limit for all of Florence County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Lake City?

The typical homeowner in Lake City pays $577 a year, according to the U.S. Census Bureau. That is 0.4% of the home’s value; in Florence County, the rate is 0.42%.

Where can I find free help to buy or rent in Lake City?

There is 1 HUD-approved counseling agency with an office in Florence County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).