 The lake is located about 10 miles south of Mount Vernon.The EDC study determined the average sale price of lakefront property on Lake Cypress Springs (2012) was $484,000, with 91 percent of the 1,400 water-front homes being second residences.This concentration of second residences causes the population of the county to increase between 3,000 and 8,000 people on weekends and during holidays, according to estimates by the Franklin County Water District, which oversees the lake and its visitors.