Neighborhood · Orlando, Florida
Lake Terrace
An easy commute and a small-neighborhood feel
1
Homes for sale
$245,000
Median list price
$233
Avg price / sqft
1
Median days on market
Lake Terrace sits close to the center of everything in Orlando, with downtown just about 11 minutes away and Orlando International Airport reachable in roughly 24. It's a compact, established pocket where the pace feels residential but the city stays within easy reach — Universal is around 22 minutes out and Walt Disney World about 42. If you want something more master-planned nearby, neighborhoods like Laureate Park and Metro West offer a different flavor, while Hunters Creek sits further south.
For buyers, the market here is tight in the truest sense: there are currently no active listings in Lake Terrace, so inventory turns over quietly rather than sitting on the market. Over the past 12 months, 9 homes sold at a median price of $448,000, and sellers took home about 98% of asking on average. That combination tells you Lake Terrace trades on demand rather than volume — worth watching alongside the broader pool of Orlando homes for sale and neighboring City Of Orlando/goaa if you're ready to move quickly.
Lake Terrace is a community in Orlando, Florida.
Quick facts
$245,000 – $245K price range
1,053 sqft median home
$480/mo median HOA
$2,295/mo median rent
8 sold in 12 months
Drive times
On the market now
Homes for sale in Lake Terrace
Every active listing inside the Lake Terrace boundary
Open full map search →Find your fit
Browse Lake Terrace
By feature — on the live map
The numbers that matter
The Lake Terrace market
8
Sold, last 12 months
$463,000
Median sold price
99%
Sale-to-list ratio
What sellers actually get vs asking
14 days
Median time to sell
Lake Terrace vs Orlando
Median list price
Price per sqft
Days on market
Median sold price — 3-yr, 3-mo rolling
▼ 18.6% yr/yr
Homes sold per month
Live Stellar MLS data — every listing and closed sale inside the Lake Terrace boundary. Rolling medians smooth single-month swings in small communities.
For the school run
Schools Lake Terrace is zoned for
Attendance boundaries overlapping this community — always verify zoning with the district.
What it really costs
Owning here
Owning the median Lake Terrace home
≈ $2,252/mo
$245,000 median · 20% down · 30-yr fixed at 6.9% · taxes/HOA from live listing data · insurance is a Florida estimate.
$480/mo
Median HOA
From current listings inside the boundary
$2,295/mo
Median rent
Homes for rent inside the boundary
Population
922
Median age
31
Median income
$51,753
Median home value
$340,791
Beyond the listings
Living in Lake Terrace
Appearance oriented
Top 4% in the U.S.Body Art
Who says the body isn't a canvas? This population loves talking about tattoos, body art and piercings.
Food & Drink
Top 5% in the U.S.Ingredient Attentive
These folks are conscious about what they eat. They're looking for ingredients that not only taste great, but also have great nutritional benefits.
Food & Drink
Top 8% in the U.S.Trendy Eats
Meals are a social experience, and these foodies take it to the next level. This population can't wait to snap a pic of their plate and share it before chowing down.
Hobbies & Interests
Top 22% in the U.S.Bookish
Always seeking the next book, article, or poem to read, this activity is prevalent in areas where reading is a way of life. Although a solo activity, the expression of the love of books is a bonding, communal experience.
Beliefs
Top 24% in the U.S.Activism
This population seeks to advocate for a more just world. Common activities include protests, rallies, and spreading awareness to the public about social justice issues.
Food & Drink
Top 24% in the U.S.Fueling for Fitness
A population characterized by healthy eating. Often pre-planning for meals for the purpose of fitness and convenience. Likely to participate in meal prep trends.
People who close here
Our Orlando experts
Straight answers
Lake Terrace FAQs
Is Lake Terrace a good place to live?+
It's a good fit if you value being close to the city without living in the middle of it — downtown Orlando is about 11 minutes away and the airport around 24. It's a small, established neighborhood assigned to William R Boone High, Howard Middle, and Hillcrest Elementary, so it tends to draw buyers who want central access with a quieter street feel.
Is Lake Terrace expensive?+
Prices here sit in the mid-range for central Orlando, with homes selling at a median of $448,000 over the past year. For comparison, if you're weighing renting, the median rent runs about $2,950 a month. It's more accessible than Orlando's luxury waterfront pockets but priced for its central location.
What do homes cost in Lake Terrace?+
Over the last 12 months, 9 homes sold at a median price of $448,000. There are no active listings at the moment, so the sold data is your best gauge of value — and it's worth tracking nearby Orlando homes for sale while you wait for the next listing here.
How is the market in Lake Terrace?+
It's a low-inventory, demand-driven market: zero homes are active right now, and the 9 that sold in the past year closed at about 98% of asking on average. That means when something does list, it tends to move — so being pre-approved and ready to act matters here.
What about HOA fees and property taxes?+
HOA and property tax figures aren't available in the current data for Lake Terrace, which is common for smaller, established neighborhoods without a formal association. Your agent can pull exact tax figures and any applicable fees on a specific property once you're targeting a home.
Keep exploring
More Orlando neighborhoods
Neighborhood boundary by edgeAI; listings matched to the polygon. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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