Housing data for Lake Royale, NC
Lake Royale, NC has an estimated 3,168 residents and 2,198 homes (US Census Bureau, 2020–2024 American Community Survey).
It is an unincorporated community in Franklin County.
5.5% of households rent.
The median gross rent is $1,390 a month.
Figures last updated on .
- Residents
- 3,168 (±704)
- Housing units
- 2,198 (±329)
- Households that rent
- 5.5%
- Median gross rent
- $1,390
- Residents since 2015–2019
- −9.1%
What stands out in Lake Royale
Households that rent: 5.5% (±6.0 points) in Lake Royale, lower than in Franklin County (21.4%).
Homes built before 1980: 3.5% (±5.3 points) in Lake Royale, lower than in Franklin County (21.8%).
Median household income: $107,806 (±$32,807) in Lake Royale, higher than in Franklin County ($74,240).
Working from home: 5.9% (±3.9 points) in Lake Royale, lower than in Franklin County (12.5%).
Housing in Lake Royale at a glance
- Median rent: $1,390 median gross rent a month (Small sample: wide margin of error)
- Rent burden: 11.9% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 5.5% of households rent (Small sample: wide margin of error)
- Income and affordability: $107,806 median household income
- Home values: $280,400 median home value
- Homeowner costs: $1,593 median monthly cost with a mortgage
- Property taxes: $1,604 median real estate taxes a year
- Types of homes: 0.0% of homes are in buildings of 5 or more units
- Bedrooms: 70.7% of homes have 3 or more bedrooms (Small sample: wide margin of error)
- Age of homes: 3.5% of homes were built before 1980 (Small sample: wide margin of error)
- Vacancy rate: 37.5% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 83.3% heat with electricity
- Commute and cars: 36.6 minutes average trip to work
- Growth: −9.1% residents since 2015–2019
- How long people stay: 25.9% moved in since 2020
- Crowding and facilities: 0.0% of homes have more than 1 person per room (Small sample: wide margin of error)
Lake Royale against Franklin County, its state and the nation
| Lake Royale | Franklin County | North Carolina | United States | |
|---|---|---|---|---|
| Residents | 3,168 (±704) | 74,386 (exact) | 10,730,404 (exact) | 334,922,499 |
| Housing units | 2,198 (±329) | 31,767 (±43) | 4,895,668 (±642) | 143,775,355 |
| Households that rent | 5.5% (±6.0 points) | 21.4% (±2.1 points) | 33.4% (±0.2 points) | 34.8% |
| Median gross rent | $1,390 (±$55) | $1,083 (±$36) | $1,228 (±$5) | $1,413 |
| Median household income | $107,806 (±$32,807) | $74,240 (±$3,647) | $72,388 (±$324) | $80,734 |
| Median home value | $280,400 (±$38,366) | $284,300 (±$14,000) | $288,900 (±$1,086) | $332,700 |
| Median real estate taxes (a year) | $1,604 (±$240) | $1,834 (±$69) | $1,896 (±$8) | $3,119 |
| Built before 1980 | 3.5% (±5.3 points) | 21.8% (±2.2 points) | 33.9% (±0.2 points) | 49.7% |
| Average commute | 36.6 minutes (±3.8) | 33.3 minutes (±1.3) | 25.1 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 91.2% (±6.7 points) | 89.0% (±1.7 points) | 90.1% (±0.2 points) | 91.0% |
| Median age of residents | 47.9 years (±10.3) | 41.0 years (±0.5) | 39.1 years (±0.2) | 38.9 years |
Lake Royale covers 6.5 square miles of land, about 487 residents per square mile (Census Bureau Gazetteer).
How Lake Royale has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 3,485 (±1,047) | 3,168 (±704) | −9.1% | Not a measurable change |
| Housing units | 1,887 (±247) | 2,198 (±329) | +16.5% | Not a measurable change |
| Median gross rent | $1,129 (±$98) | $1,390 (±$55) | +23.1% | No measurable change after inflation |
| Median home value | $209,800 (±$45,931) | $280,400 (±$38,366) | +33.7% | No measurable change after inflation |
| Median household income | $57,750 (±$47,339) | $107,806 (±$32,807) | +86.7% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,394 (±$67) | $1,593 (±$314) | +14.3% | No measurable change after inflation |
| Median real estate taxes | $1,619 (±$405) | $1,604 (±$240) | −0.9% | No measurable change after inflation |
| Households that rent | 27.5% (±14.6 points) | 5.5% (±6.0 points) | −22.0 percentage points | Measurable decrease |
| Rental vacancy rate | 0.0% (±8.9 points) | 37.5% (±49.3 points) | +37.5 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Places near Lake Royale
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Bunn | 3.4 mi | $1,067 | $256,300 | 34.8% |
| Spring Hope | 4.9 mi | $763 | $161,000 | 47.8% |
| Momeyer | 8.1 mi | $817 | $98,800 | 14.9% |
| Louisburg | 11 mi | $991 | $262,500 | 66.1% |
| Castalia | 11 mi | $654 | $52,500 | 34.0% |
| Zebulon | 12 mi | $1,109 | $320,700 | 37.3% |
| Middlesex | 12 mi | $645 | $216,900 | 36.6% |
| Nashville | 13 mi | $1,073 | $205,300 | 48.0% |
Places in North Carolina most like Lake Royale
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Moyock | $1,710 | $405,100 | $115,244 | 4.5% |
| Holly Ridge | $1,315 | $360,300 | $104,788 | 11.4% |
| Barbecue | $1,383 | $219,800 | $79,426 | 18.3% |
| Mineral Springs | $1,340 | $389,900 | $91,500 | 15.4% |
| Midland | $1,418 | $369,100 | $101,477 | 16.1% |
| Lake Norman of Catawba | $1,319 | $492,600 | $112,656 | 14.3% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across North Carolina.
HUD Fair Market Rent for Lake Royale, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,489 | $1,552 | $1,689 | $2,103 | $2,823 |
HUD income limits for Lake Royale, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $27,800 | $46,350 | $74,100 |
| 2 people | $31,800 | $52,950 | $84,700 |
| 3 people | $35,750 | $59,550 | $95,300 |
| 4 people | $39,700 | $66,150 | $105,850 |
| 5 people | $42,900 | $71,450 | $114,350 |
| 6 people | $46,100 | $76,750 | $122,800 |
| 7 people | $50,040 | $82,050 | $131,300 |
| 8 people | $55,720 | $87,350 | $139,750 |
These are the limits HUD sets for its housing programs in the Raleigh-Cary, NC MSA, where HUD’s median family income for fiscal year 2026 is $132,300.
A program can use its own limits; tax-credit and local programs often do.
Lake Royale is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Lake Royale
What is the median household income in Lake Royale?
The median household income in Lake Royale is $107,806 (±$32,807) a year (2020–2024 American Community Survey).
What is the average home value in Lake Royale, NC?
The Census Bureau publishes the median: $280,400 (±$38,366) for owner-occupied homes in Lake Royale (2020–2024 American Community Survey).
What is the average mortgage payment in Lake Royale?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Lake Royale, NC is $1,593 (±$314) a month, including taxes, insurance and utilities.
How much are property taxes in Lake Royale?
The median real estate tax paid by homeowners in Lake Royale, NC is $1,604 (±$240) a year (2020–2024 American Community Survey).
How many homes are in Lake Royale?
Lake Royale, NC has an estimated 2,198 (±329) housing units, occupied and vacant (2020–2024 American Community Survey).
What is the most common way to heat a home in Lake Royale?
Electricity is the most common heating fuel in Lake Royale, used by 83.3% of occupied homes (2020–2024 American Community Survey).
Is Lake Royale growing?
In Lake Royale, the number of residents went from 3,485 in 2015–2019 to 3,168 in 2020–2024 (−9.1%), not a measurable change.
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Lake Royale CDP, North Carolina
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Lake Royale CDP, North Carolina
- HUD Fair Market Rents, fiscal year 2027: Raleigh-Cary, NC MSA
- HUD Small Area Fair Market Rents, fiscal year 2027
- HUD Income Limits, fiscal year 2026: Raleigh-Cary, NC MSA
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Lake Royale CDP, North Carolina (place:36513, in state:37).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .