There are currently 3,233 real estate properties in Lake City, MN, with a median automated valuation model (AVM) price of $302,700.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lake City, MN, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lake City, MN, is $390,330.00, with the most expensive house in Lake City, MN, topping out at $3,035,900.00 and the cheapest home in Lake City, MN, clocking in at $19,900.00. In other words, there’s something for every potential homebuyer or savvy investor in Lake City, MN!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lake City, MN, is on a rollercoaster ride. The average rent price in Lake City, MN, is $1,674.00. Indeed, when looking to rent in Lake City, MN, you can expect to pay as little as $560.00 or as much as $4,160.00, with the average rent median estimated to be $1,590.00. The good news is that finding an affordable and desirable property to rent in Lake City, MN -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Lake City, MN area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Lake City, MN and much more. Save thousands at closing with home foreclosure listings in Lake City, MN — up to 75% off market value!
Lake City is located in Wabasha, Minnesota, with an estimated municipal population of 5,122 residents. All of the best foreclosed homes for sale in Lake City are located in the following zip code areas on Foreclosure.com: 55041. The estimated population per square kilometer (.62 miles) in Lake City is 441.
So, about how much do homes cost in Lake City? The most recent median value of resident-owned homes in Lake City is 169,537. An estimated 67.7 percent of households in Lake City own their homes, with an average family size of 2.7. The median household income in Lake City is 57,853, with22.2 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lake City, the median commute time of resident workers (in minutes) is 18.4. And last, but certainly not least, are you looking for homes to rent in Lake City? If so, the average rent price paid by renters in Lake City is 845, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lake City, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lake City is 50.4, split between 49.1 percent male versus 50.9 female. The percentage of residents who report being married in Lake City is 54.6, with an average family size of 2.7.
The percentage of residents who report their race in Lake City is as follows:
|Black / African American||1.7%|
|American Indian / Alaskan Native||0%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Lake City? Or maybe you are searching for 55+ active adult communities in and/or near Lake City?
The percentage of residents who report their age in Lake City is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lake City with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lake City.
How do you know that living in -- or moving to -- Lake City is right where you need to be? Perhaps you grew up in Lake City or already live nearby; therefore, the decision to buy a home in Lake City is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lake City for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lake City:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lake City.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lake City can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lake City, meanwhile, can field multiple offers from more qualified buyers.
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