Mount Dora's housing stock is unusually varied for a small city. The historic downtown and surrounding neighborhoods feature older Florida homes, bungalows, and lakefront properties, while newer gated communities such as Stoneybrook Hills offer family-oriented homes with resort-style amenities. The Country Club of Mount Dora is built around an 18-hole golf course, and communities like the Lakes of Mount Dora cater to active adults. Buyers can choose among downtown character homes, waterfront estates, golf-course residences, and newer subdivisions, reflecting the city's appeal to both full-time residents and seasonal buyers.

Mount Dora's neighborhoods range from historic to newly built. The downtown historic district offers walkable streets, older homes, and close access to shops, restaurants, and the lakefront. Stoneybrook Hills is a large gated community with more than 900 homes and extensive amenities, while the Country Club of Mount Dora centers on an 18-hole golf course. The Lakes of Mount Dora is a 55-plus active-adult community, and areas such as Pinecrest retain mid-century character. This mix gives buyers options across age groups, lifestyles, and budgets.

Mount Dora offers a cultured, festival-driven small-town lifestyle. The downtown's antique shops, galleries, boutiques, and cafes line walkable streets overlooking Lake Dora, and the city's 'Festival City' nickname is earned through events such as the Mount Dora Arts Festival and Craft Fair. The historic Lakeside Inn and the freshwater lighthouse add charm, while waterfront dining and boat tours on Lake Dora shape leisure time. The pace is relaxed and community-centered, with a steady stream of visitors adding energy to the downtown throughout the year.

Public schools in Mount Dora are part of Lake County Schools, the countywide district serving central Florida communities. The city is home to Mount Dora Middle School and Mount Dora High School, along with several elementary campuses, giving families a complete K–12 pathway within the community. The district offers a range of academic, arts, and athletic programs, and additional charter and private options are available in the wider Lake County and Orlando region.

Mount Dora lies roughly 30 miles northwest of Orlando, reached primarily by U.S. Highway 441 and connecting roads through Lake County. The city is car-dependent, with residents typically driving to nearby employment centers in Eustis, Tavares, Leesburg, and the Orlando metro. Orlando International Airport is accessible by car or regional shuttle and bus service, and the Sanford area provides additional routes. Commuting toward Orlando follows the 441 corridor and the area's toll and express roads, making the city practical for those who value small-town living over a short urban commute.

Lake Dora anchors outdoor recreation in Mount Dora, with boating, fishing, kayaking, and scenic lake cruises available from the downtown waterfront. The lake is part of the Harris Chain of Lakes, a network of connected waterways stretching across Lake County. City parks and playgrounds provide neighborhood green space, and the region's lakes, trails, and preserves offer additional hiking and paddling. The city's lakeside setting and mild climate support year-round outdoor activity, from waterfront festivals to quiet mornings on the water.