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Lake Grove

Learn about the people, housing, costs and businesses in Lake Grove, New York

Median Home$596,567
Median Rent$1,753/month
Population11,061
Leading IndustriesArts, Food & Hospitality · Public Administration · Healthcare12% arts, food & hospitality
Home Value Growth⬆⬆+18.1% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners77% of occupied units
NotableHighly Educated29% bachelor's · 16% graduate · top 10% nationally
NotableHigh Incomes$113k/year · top 11% nationally
Lake Grove
NY

Frequently Asked Questions

What are today's mortgage rates in Lake Grove?

As of today, the 30-year fixed mortgage rate for Lake Grove is approximately 6.830% (6.864% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lake Grove?

The median home value in Lake Grove is $597k. The median monthly rent is $1,753. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Grove?

Home values in Lake Grove have increased 18.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lake Grove?

Based on a typical all-in ownership cost of $2,496/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $107k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Grove is $113k/year.

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What industries drive the economy in Lake Grove?

The largest employment sectors in Lake Grove are public administration (29%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.