Lake Wales is located almost in the center of the Florida peninsula, on the Lake Wales Ridge which is the highest land in the entire state. Even though it's not on the coast, it has its own lake, and is close enough to salt water to satisfy its approximately 12,000 residents. Lake Wales Ridge State Forest encompasses the sandy highlands and offers protection for many of Florida's rare plants and animals.
Lake Wales, FL is a great place for affordable rent-to-own homes! With a median household income of over $48,145 and a median rent of $883, the Lake Wales, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Lake Wales, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Lake Wales, FL is seeing rapid growth and Lake Wales, FL's' housing market remains optimal with an average home price that is -17% below the 2022 national average. Lake Wales, FL is part of Polk county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Polk is 0.9% which is below the national average, which is 0.99%.
Lake Wales, FL has a walk score of
Lake Wales, FL has a bike score of
The state tax rate is 0% on top of the federal tax rate of 10 to 37%.