20 Most Affordable Southern Lake Towns

The Southern states offer Americans with modest savings the chance to fulfill their dream of living in a lake town. Key findings from an in-house GOBankingRates study reveal the 20 most affordable Southern lake towns are financially within reach for most budgets. Single-family home prices average at $258k at their peak while cost-of-living expenses do not exceed $3,300 per month.

Using an existing in-house study from September 2025 outlining the nation’s most affordable lake towns, GOBankingRates isolated the top 20 Southern towns. For each town, the monthly cost of living, single-family home value and median household income is included.

From Florida to Mississippi, check out these 20 affordable Southern lake towns. Want to see how these towns stack up compared to the rest of the country? Read our ranking of America’s 20 most affordable lake towns.

• Median household income: $42,470
• Average single-family home value: $123,711
• Total cost of living (monthly): $2,493

• Median household income: $56,729
• Average single-family home value: $133,647
• Total cost of living (monthly): $2,660

• Median household income: $48,735
• Average single-family home value: $140,587
• Total cost of living (monthly): $2,696

• Median household income: $41,243
• Average single-family home value: $169,955
• Total cost of living (monthly): $2,748

• Median household income: $51,240
• Average single-family home value: $173,643
• Total cost of living (monthly): $2,849

• Median household income: $45,550
• Average single-family home value: $164,612
• Total cost of living (monthly): $2,851

• Median household income: $51,243
• Average single-family home value: $176,818
• Total cost of living (monthly): $2,927

• Median household income: $38,780
• Average single-family home value: $187,277
• Total cost of living (monthly): $2,931

• Median household income: $53,134
• Average single-family home value: $174,452
• Total cost of living (monthly): $2,936

• Median household income: $48,708
• Average single-family home value: $211,154
• Total cost of living (monthly): $211,154 

• Median household income: $52,321
• Average single-family home value: $173,043
• Total cost of living (monthly): $2,980

• Median household income: $53,071
• Average single-family home value: $200,412
• Total cost of living (monthly): $3,044

• Median household income: $57,103
• Average single-family home value: $205,160
• Total cost of living (monthly): $3,048

• Median household income: $42,367
• Average single-family home value: $198,595
• Total cost of living (monthly): $3,054

• Median household income: $56,864
• Average single-family home value: $201,197
• Total cost of living (monthly): $3,067

• Median household income: $33,628
• Average single-family home value: $206,953
• Total cost of living (monthly): $3,102

• Median household income: $50,396
• Average single-family home value: $205,391
• Total cost of living (monthly): $3,128

• Median household income: $42,103
• Average single-family home value: $239,130
• Total cost of living (monthly): $3,134

• Median household income: $46,441
• Average single-family home value: $246,676
• Total cost of living (monthly): $3,253

• Median household income: $56,692
• Average single-family home value: $257,079
• Total cost of living (monthly): $3,300

See more original studies and surveys in the GOBankingRates original research center.

Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.

Methodology: For this study, GOBankingRates identified the 20 most affordable Southern lake towns to live in across the United States. The initial list of towns was compiled using rankings from Travel + Leisure’s Best Lake Towns in America, MSN’s Best Lake Towns to Live in America and Thrillist’s Best Lake Town Destinations in America. Once the locations were selected, GOBankingRates analyzed several key data points sourced from the U.S. Census Bureau’s American Community Survey, including total population, percentage of residents age 65 and over, median household income and total number of households. Cost-of-living indexes were obtained from Sperling’s BestPlaces. To estimate average household expenditures, national data from the Bureau of Labor Statistics’ Consumer Expenditure Survey was used. Home affordability was assessed using the Zillow Home Value Index for single-family homes. Assuming a 10% down payment and a national average 30-year fixed mortgage rate of 6.56% (as reported by the Federal Reserve Economic Data on Sept. 2, 2025), average monthly mortgage costs were calculated for each town. By combining mortgage costs with estimated household expenditures, the total cost of living for basic necessities was determined. The towns were then ranked from most to least affordable. All data is current as of Sept. 3, 2025.