Market Intelligence · FL / Lake Wales

Lake Wales, FL 33898 Housing Market

The typical home value in Lake Wales, FL 33898 was $247,734 as of September 2026, down 1.6% over the past year. Sellers listed homes at a median of $312,500, and properties took a median of 96 days to go under contract.

Updated September 2026Median value$248K

The median home value in Lake Wales, FL 33898 is $248K as of September 2026, down 1.6% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 33898 range

$228K to $268K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

-1.6% over 12 months

Sep 2025$252K

Low $248KHigh $252K

Sep 2026$248K

The numbers

What is the 33898 housing market like?

As of September 2026

Typical home value

$248K

1.6%YoY

Median list price

$313K

2.0%MoM

Days on market

12.7%MoM

Homes for sale

2.1%MoM

Price cuts

19.7%

10.1%MoM

New listings

133.3%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

33898 housing market forecast 2027

-1.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 33898 to fall 1.2% by September 2027.

Over the 12 months through September 2026, typical home values in 33898 fell 1.6%, per the Zillow Home Value Index.

Will home prices drop in 33898?

Zillow's forecast says they may: it expects typical home values in 33898 to fall 1.2% by September 2027, after a 1.6% decline over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 33898 home prices compare?

33898$247,734
Lake Wales$247,734
Florida$344,436
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Lake Wales: 3 ZIPs; Florida: 923 ZIPs; United States: 26,262 ZIPs).

Context

Buyers in 33898 had 97 homes to choose from as of September 2026, with 28 new listings hitting the market that month. The median list price stood at $312,500, well above the typical home value of $247,734. Homes moved slowly, sitting for a median of 96 days, and 19.7% of listings had taken a price cut. Values were down 1.6% over the past year. For a seller, this points to a patient market where realistic pricing matters more than reaching for a top number.

Monthly payment

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Home price

Down payment20% · $49,547

Term

Rate (%)

Common questions

What people ask us.

How much is a home in 33898 worth?

The typical home value in 33898 was $247,734 as of September 2026, down 1.6% over the past year. The median list price was $312,500.

How long does it take to sell a home in 33898?

Homes in 33898 spent a median of 96 days on the market as of September 2026. That is a slow pace, so sellers should plan for a longer timeline.

Are sellers cutting prices in 33898?

Yes. As of September 2026, 19.7% of active listings in 33898 had reduced their price.

Discover

Nearby ZIP markets.

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