Total monthly cost of ownership
Cost to Own a Home in Lake Placid, Florida
A $253,000 home here costs
$1,997per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,301. The real number is $696 higher every month — 54% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Lake Placid against Highlands County and Florida
| Measure | Lake Placid | Highlands County |
|---|---|---|
| Median home value | $253,200 | $177,900 |
| Median property tax | $1,542 | $1,295 |
| Effective tax rate | 0.609% | 0.728% |
| Median gross rent | $975 | $980 |
| Population | 2,438 | 103,808 |
The weather behind that power bill
Lake Placid sits in Highlands County, which averages a high of 91.4°F in its hottest month and a low of 49.3°F in its coldest, with 52.27" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 3,337 cooling and 478 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Highlands County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Highlands County
Full Highlands County cost breakdown · Every county in Florida
Common questions
How much does it cost to own a home in Lake Placid?
A $253,000 home in Lake Placid, Florida costs approximately $1,997 per month with 20% down at 6.66%. That is $1,301 principal and interest, $128 property tax, $153 homeowners insurance, $204 utilities and $211 set aside for maintenance.
What is the property tax rate in Lake Placid?
Lake Placid has an effective property tax rate of 0.609%, based on a median home value of $253,200 and median real estate taxes of $1,542. That is lower than the Highlands County average of 0.728%.
What is the average home price in Lake Placid?
The median owner-occupied home value in Lake Placid, Florida is $253,200, against $177,900 across Highlands County.
Is it cheaper to rent or buy in Lake Placid?
Median gross rent in Lake Placid is $975 a month, against $1,997 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Placid — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Florida.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.