US5.com
  1. Home
  2. States
  3. Iowa
  4. ZIP 51347
  5. Housing & Real Estate
Lake Park city, IA

ZIP 51347 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 51347

Median Home Value
$180,600
Median Rent
$660
Affordability Snapshot
$50,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,160/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.2x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

22.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 51347 in Lake Park city, IA, a household would need roughly $50,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,160. That sits below the local median household income ($81,736), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 16% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
88.8%+36% vs US avg
x
Vacancy Rate
16.1%+56% vs US avg
x
Broadband Access
90.9%+4% vs US avg
x
4+ Bedrooms
9.0%-39% vs US avg
x
Built Pre-1939
6.3%-51% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
25.7%-48% vs US avg
x
Mortgage-Free
38.8%+2% vs US avg
x
$180,600
Home Value
$660
Rent
1963
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached92.1%
  • 1-unit attached2.4%
  • 2-9 units3.1%
  • 10+ units0.8%
  • Mobile home & other1.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$180,600
Median rent$660
Owner-occupied88.8%
Vacant16.1%
Price-to-income2.2x
Est. income to buy$50,000