Real Estate Investing in Lake City, Pennsylvania (16423)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 16423 (Lake City, PA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Lake City, PA (16423)?
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Market Analysis: 16423 Lake City
ZIP 16423 in Lake City, PA carries a substantial set of headwinds. Home values near $214K and rents of $1,008/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 16423 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 16423 and stronger Lake City ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A notable renter share of 10% in 16423 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 16423 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Lake City:
Property Strategy for 16423
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $162,204 | $1,120 | 5.0% | +8.4% | $81,102 |
| 3BR | $209,702 | $1,390 | 4.8% | +8.2% | $69,901 |
| 4BR | $236,242 | $1,560 | 4.8% | +8.5% | $59,060 |
Market Trends
Home Value History (with trend line)
📊 How Does 16423 Compare?
| Metric | 16423 | Lake City | Erie, PA | Pennsylvania |
|---|---|---|---|---|
| Home Value | $213,571 | $213,571 | N/A | $278,018 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 6.3% |
| Avg Rent | $1,008 | $1,008 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 16423 (Lake City, PA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $213,571 |
| Monthly Rent | $1,008 |
| Price-to-Rent | 17.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +8.8% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 16423
Population: 3,880
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 16423
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the best play in Lake City, PA?
For Lake City, PA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How deep is the rental pool in Lake City, PA?
Expect a solid tenant pool in Lake City, PA. The rental market absorbs $1,008/mo rents without meaningful friction.
Does Lake City, PA favor landlords or tenants?
Lake City, PA operates under PA law, which is landlord-friendly overall for landlords. Expect stable treatment in typical lease and eviction cases.
Is Lake City, PA a smart market for rental property?
With a 3.0/5 investability score, Lake City, PA ranks as a solid market for rental property investors. Median prices of $214K and rents of $1,008/mo drive the underlying numbers.
What is the typical home price in Lake City, PA?
In Lake City, PA the median home value sits at $214K. Against the broader PA market, that reads as reasonable for most investors.
You know 16423 now. You don’t know where it ranks.
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How 16423 ranks in Erie, PA
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Community Ratings
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