1st Advantage MortgageThe median Lake County household earns $96,575, and 8% of residents live below the poverty line. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Colorado license first.
On this page
- Lake County, CO: the basics
- What Lake County households earn
- Employment and commuting in Lake County
- Housing costs in Lake County
- Neighboring counties at a glance
- The communities that make up Lake County
- Lake County households compared
- Reading the Lake County data as a borrower
- Debt-to-income at Lake County's medians
- Colorado rules that apply in Lake County
- A Lake County borrower's checklist
- More guides for Lake County
- Frequently asked questions
Lake County, CO: the basics
The latest five-year Census estimate puts Lake County's population at 7,380; only 41 of Colorado's 64 county-level areas are larger. Spread over 377 square miles, that works out to roughly 19.6 residents per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. The Census Bureau counts 3 places in the county (1 incorporated, 2 census-designated); the largest is Leadville, with about 2,620 residents, or 36% of the county. Because Lake County is small, the survey's margins of error are wide; treat the numbers as approximate.
What Lake County households earn
Lake County households have a median income of $96,575 (ACS 2020 to 2024), which ranks 13th of 64 in Colorado.
| Band | Lake County | Compared with Colorado |
|---|---|---|
| Under $35,000 | 15.5% | -0.9 pts |
| $35,000 to $99,999 | 37.3% | +1.5 pts |
| $100,000 to $199,999 | 35.5% | +4.6 pts |
| $200,000 or more | 11.7% | -5.3 pts |
The spread is wide: 47% of Lake County households make $100,000 or more, and 15% make less than $35,000. Census counts 7.9% of Lake County residents in poverty, against 9.4% across Colorado. Income inequality, measured by the Gini index, comes to 0.406 here. A household earning below the $96,575 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Employment and commuting in Lake County
By the Census industry count, 22% of employed Lake County residents work in education and health care and 14% in construction. The sharpest difference from the state is in construction, at 14% locally and 8% for Colorado. Averaged over the five survey years, 2.2% of the labor force was out of work and looking. 25% of commuters travel 45 minutes or more each way, and 9% work from home. 4.1% of households have no vehicle.
| Top industries | Lake County share | +/- vs Colorado |
|---|---|---|
| Education and health care | 21.9% | +0.1 pts |
| Construction | 13.5% | +5.5 pts |
| Professional and administrative services | 12.6% | -3.0 pts |
| Arts, lodging and food service | 10.8% | +1.8 pts |
| Other services | 7.7% | +2.9 pts |
| Transportation, warehousing and utilities | 7.6% | +2.3 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
Housing costs in Lake County
A typical Lake County rental runs $1,397 a month including utilities, which is 21% below Colorado. Rent takes 30% or more of income for 62% of renter households here. Home values center on $466,100, or 4.8 years of median income. 76% of Lake County households own their home and 24% rent. Half the housing stock was built before 1972.
| Lake County | Colorado | U.S. county median | |
|---|---|---|---|
| Median gross rent | $1,397/mo | $1,761/mo | $877/mo |
| Median home value | $466,100 | $539,400 | $185,300 |
| Owners | 76% | 66% | 75% |
| Rent-burdened renters | 62% | 53% | 45% |
| Burdened owners | 14% | 30% | n/a |
| Mobile homes | 10.8% | 3.5% | n/a |
Because most Lake County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral. Rent pressure is real here, so run any payment through the debt-to-income calculator before you apply.
Neighboring counties at a glance
Pitkin County is closest, 30 miles from center to center; the sixth, Clear Creek County, is 49 miles off. 4 of the six report a higher median household income than Lake County; Summit County is highest at $109,773 and Chaffee County lowest at $84,132.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Lake County | - | $96,575 | $1,397/mo | 76% |
| Pitkin County, CO | 30 mi | $102,645 | $2,004/mo | 63% |
| Summit County, CO | 31 mi | $109,773 | $1,928/mo | 72% |
| Chaffee County, CO | 33 mi | $84,132 | $1,611/mo | 74% |
| Park County, CO | 34 mi | $103,670 | $2,161/mo | 86% |
| Eagle County, CO | 34 mi | $104,096 | $2,019/mo | 66% |
| Clear Creek County, CO | 49 mi | $94,577 | $1,467/mo | 82% |
The communities that make up Lake County
Here are the 3 most populous of the county's 3 Census places, with income and rent from the same 2020 to 2024 survey. About 63% of Lake County residents live in one of the 3. Incomes vary by place: $142,601 at the median in Twin Lakes, $86,350 in Leadville. This guide covers each of the 3 places and the rural areas around them.
| Place | Type | Population | Median income | Median rent | From county center |
|---|---|---|---|---|---|
| Leadville | city | 2,620 | $86,350 | $1,195 | 4 mi |
| Leadville North | CDP | 1,417 | $97,604 | $1,495 | 4 mi |
| Twin Lakes | CDP | 615 | $142,601 | n/a | 7 mi |
A CDP is a named community without its own municipal government.
Lake County households compared
49% of Lake County adults 25 and older hold a bachelor's degree or more. 13.7% of residents have no health coverage.
| Lake County | Colorado | U.S. county median | |
|---|---|---|---|
| Median age | 37.3 | 37.7 | 41.5 |
| Bachelor's or higher | 49.5% | 45.7% | 22.2% |
| No high school diploma | 6.2% | 7.1% | n/a |
| No health insurance | 13.7% | 7.7% | 7.8% |
| No vehicle | 4.1% | 5.2% | 5.4% |
| Work from home | 8.5% | 21.0% | 8.7% |
| Poverty rate | 7.9% | 9.4% | 13.2% |
| Unemployment (ACS) | 2.2% | 4.6% | 4.4% |
| Commute length | Lake County |
|---|---|
| Under 15 min | 44.3% |
| 15 to 29 min | 15.9% |
| 30 to 44 min | 15.3% |
| 45 to 59 min | 14.9% |
| 60+ min | 9.7% |
Reading the Lake County data as a borrower
Based on the Lake County data above, these borrowing questions are most likely to matter locally.
- Health costs. With 14% of the county uninsured, an interest-free hospital payment plan usually beats a loan (medical bills).
- Long drives. With 25% of commutes over 45 minutes, tires and repairs are fixed costs in many Lake County budgets.
- Six-figure budgets. For the 47% earning $100,000 or more, lifestyle creep, not approval, is the usual problem.
- Tight rental budgets. With 62% of Lake County renters cost-burdened, test a new payment against a lean month.
Debt-to-income at Lake County's medians
Lake County at the medians, through a lender's eyes (what DTI means):
- $96,575 a year is $8,048 of gross monthly income
- Less median rent of $1,397, which is 17% of it
- 40% debt-to-income limit: $1,822 left for all other debt payments
Two-income households and single earners in Lake County land in very different places on this math, so run it for your own budget.
Colorado rules that apply in Lake County
Before sharing details with a lender, a Lake County resident can confirm its license with the Colorado Division of Banking. Consumer lending in Colorado is also overseen by the Colorado Attorney General's office, which administers the state's Uniform Consumer Credit Code. The Consumer Financial Protection Bureau accepts complaints nationwide. Statewide data and rules: Colorado guide.
A Lake County borrower's checklist
A short checklist for Lake County borrowers:
- Borrow the amount the job needs; extra cash adds interest.
- Ask each lender for the APR and all fees in writing.
- Only work with lenders licensed for Colorado borrowers.
- Ask a Lake County credit union about member loans.
More guides for Lake County
For statewide rules and data, see the Colorado guide.
Frequently asked questions
Is Lake County a high-income county?
Its $96,575 median ranks 13th of 64 Colorado counties and compares with $65,681 for the median U.S. county.
How much is rent in Lake County?
Median gross rent, utilities included, is $1,397 a month; 62% of renters spend 30% or more of income on it.
I own my home in Lake County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 76% of homes owner-occupied here, many readers can compare both in writing.
Which towns does the Lake County guide cover?
Every community in the county, unincorporated areas included. The largest of its 3 Census places: Leadville, Leadville North, Twin Lakes.
Does living in Lake County change what I qualify for?
Not in our fit check, which uses only the amount, credit range, income and payments you enter, the same for a Lake County resident as anyone. Lenders decide under fair-lending law.