Lake County, Tennessee Housing Market Prices
Lake County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 80% below the Tennessee median Cheaper than 93% of counties in Tennessee$51,364
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Median rent 55% below the Tennessee median Cheapest county in Tennessee$531
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,364 | $255,786 | $248,835 |
| Price Trend (Annual %) | 29.1% | 9.9% | 7.5% |
| Median Gross Rent | $531 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 1.0% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lake County is about 80% lower than in Tennessee. Rent is about 55% lower than the Tennessee average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lake County, up about 29.1% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Lake County rose about 11.3% between 2015 and 2024, from $477 to $531. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Lake County.
Buying the median-priced home in Lake County costs roughly 8.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $51,364 | $255,786 | $248,835 |
| Median Household Income | $29,158 | $69,901 | $80,455 |
| Price-to-Income Ratio | 1.8 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lake County fell about 21.9%, while median household income rose about 35.6% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 39.6% | 60.1% | 58.5% |
| Rental Rate | 43.3% | 29.7% | 31.2% |
| Vacancy Rate | 17.1% | 10.2% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Lake County has a homeownership rate of 39.6%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 17.1%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Lake County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.15 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1976 | 1986 | 1978 |
| Median Number of Rooms | 5.1 | 5.7 | 5.5 |
The typical housing unit in Lake County was built around 1976. On average, 2.1 people live in a home with about 5.1 rooms, staying for about 17.0 years on average.
Lake County, TN Housing Compared With Nearby Counties
Lake County, TN is the smallest of the 4 counties compared here, 6,577 residents against a local median of 30,444. Lake County, TN's median home price, at $51,364, runs 55% below the $115,187 typical of the counties around it.
Median rent tells the same story from another angle: $531 against a local median of $770, 31% below it. The one measure here that carries a verdict is homeownership, and at 23% below the local median it puts Lake County, TN at the weaker end of the local range. The counties themselves spread $139,055 on median home price, so Lake County, TN sits at one end of an already wide local range rather than apart from it. Lake County, TN has the 3rd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lake County, TN | 6,577 | $51,364 #3/4 | $531 #4/4 | 47.7% #4/4 |
| Dyer County, TN | 36,498 | $173,212 | $782 | 61.9% |
| Pemiscot County, MO | 14,958 | $34,156 | $694 | 55.2% |
| Obion County, TN | 30,444 | $115,187 | $770 | 68.1% |
Frequently Asked Questions
Common questions about the housing market in Lake County, Tennessee.
What is the median home price in Lake County, Tennessee?
The median home price in Lake County, Tennessee is $51,364, lower than the Tennessee average of $255,786.
What is the average home price in Lake County, Tennessee?
The typical home price in Lake County, Tennessee, reported as the median sale price, is $51,364. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lake County, Tennessee?
The median gross rent in Lake County, Tennessee is $531 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Lake County in 2020?
In 2020, the median gross rent in Lake County, Tennessee was $434 per month.
What is the price-to-rent ratio in Lake County, Tennessee?
The price-to-rent ratio in Lake County, Tennessee is about 8.1, meaning it would take roughly 8.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lake County.
Are home prices or rent rising faster in Lake County, Tennessee?
Both home prices and rent are rising in Lake County, up about 29.1% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lake County, Tennessee?
39.6% of households in Lake County, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Lake County, Tennessee?
The housing vacancy rate in Lake County, Tennessee is 17.1%, higher than the Tennessee average of 10.2%.
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