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Featured local agent — Lake Wales, FL
Sarah Mitchell
Compass Real Estate · Lake Wales, FL
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lake Wales, FL Housing Market & Real Estate
Housing market overview · Updated monthly ·
$260,000median sale price
How is the Lake Wales, FL housing market right now?
The median home sale price in Lake Wales, FL is $260,000, down 13.0% year-over-year. Homes sell in an average of 53 days with 134 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lake Wales a buyer's or seller's market?
Lake Wales, FL is currently a leaning buyer's, based on 5.0 months of supply and homes selling in about 53 days. How we determine this →
Homes sold
27
Last 12 weeks
Days on market
53
Average pace
Active listings
134
5.0 months supply
Sale-to-list
99.0%
Below asking
What does the Lake Wales housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $260,000 |
| Median list price | $259,240 |
| Year-over-year price change | -13.0% |
| Average days on market | 53 days |
| Active inventory | 134 listings |
| Months of supply | 5.0 months |
| Sale-to-list price ratio | 99.0% |
| Median price per sq ft | $160/sq ft |
| Homes sold (latest month) | 27 |
| New listings (latest month) | 37 |
| Listings with a price cut | 32.1% |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
How much do homes cost in Lake Wales by property type?
How the Lake Wales, FL market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $262,500 | $160/sq ft | 26 | 54 days |
| Condo / Co-op | $119,000 | $122/sq ft | 1 | 94 days |
| Townhouse | $140,000 | $163/sq ft | 1 | 146 days |
Source: Redfin · Updated monthly
The Lake Wales housing market is currently classified as a leaning buyer's with a median sale price of $260,000. Prices have fallen 13.0% compared to last year, with homes spending an average of 53 days on market, indicating 5.0 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.4x provides context for how home values compare to local earning capacity.
Market trends
Homes for sale in Lake Wales
There are currently 134 homes listed for sale in Lake Wales, Florida. The median listing price is $259K.
Active listings
134
Homes on market
Median list price
$259K
Avg. days on market
53
Days until sale
New this week
37
Newly listed
Who lives in Lake Wales?
Population
16,365
Median income
$55,799/yr
Median age
41.1 years
Owner-occupied
61.0%
College grads
22.0%
Avg commute
26.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Lake Wales?
Zillow home value
$244,740
Zillow rent index
$1,462/mo
Price-to-rent ratio
14.0x
Price-to-income
4.4x
Source: Zillow Research
What is it like to live in Lake Wales?
Lake Wales is a community of approximately 16K residents with a median age of 41.1 years.The median household income is $55,799, which represents a working-class community with solid middle-income opportunities. 22.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 61.0%, showing a blend of owner and renter-occupied properties. The average commute time is 26.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Lake Wales offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Lake Wales?
10 schools tracked · 6,329 students
The largest public schools serving Lake Wales, FL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
LAKE WALES SENIOR HIGH SCHOOL
Grades 9-12 · 1,599 students
EDWARD W BOK ACADEMY NORTH
Grades 6-8 · 670 students
MCLAUGHLIN ACADEMY OF EXCELLENCE
Grades 6-10 · 666 students
HILLCREST ELEMENTARY SCHOOL
Grades PK-5 · 665 students
BOK ACADEMY
Grades 6-8 · 627 students
SPOOK HILL ELEMENTARY SCHOOL
Grades PK-5 · 547 students
POLK AVENUE ELEMENTARY SCHOOL
Grades PK-5 · 534 students
JANIE HOWARD WILSON SCHOOL
Grades PK-5 · 430 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Lake Wales, FL?
Want a head-to-head view? Compare Lake Wales side-by-side with any other U.S. city using our market-comparison tool.
Is Lake Wales a good real estate investment market?
For investors evaluating Lake Wales, the price-to-rent ratio of 14.0x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 13.0% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Lake Wales's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Lake Wales's median home price.
Frequently asked questions
What is the average home price in Lake Wales?
The median home sale price in Lake Wales is $260,000, down 13.0% from last year.
How long do homes stay on market in Lake Wales?
Homes typically spend 53 days on market before going under contract.
What is the median income in Lake Wales?
The median household income is $55,799 per year.
Is Lake Wales a buyer's or seller's market?
With 5.0 months of supply, Lake Wales is currently a leaning buyer's.
What is the Zillow home value estimate for Lake Wales?
The Zillow Home Value Index (ZHVI) for Lake Wales is $244,740, representing the typical home value in the area.
What is the median condo price in Lake Wales?
The median condo/co-op sale price in Lake Wales, FL is $119,000, compared to $262,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Lake Wales?
The median single-family home price in Lake Wales, FL is $262,500 (about $160 per square foot).
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