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These days, finding an affordable place to live in the Lakeland area can be challenging. Home prices in Lakeland are now at a median cost of $265,124, lower than the Florida average of $396,783.
The average cost of rent is $1,499/mo in Lakeland, primarily driven by the current value of real estate in the Lakeland area. In Lakeland, 29.53% of households rent, and 42.69% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakeland is $5,959 per month. Households that rent pay about 25.15% of their income on rent here. Lakeland’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Crystal Lake, FL: less expensive homes
- Youmans, FL: higher priced homes
- Fussels Corner, FL: less expensive homes
- Lakeland Highlands, FL: higher priced homes
- Coronet, FL: equally priced homes
- Kossuthville, FL: less expensive homes
- Highland City, FL: higher priced homes
- Fuller Heights, FL: equally priced homes
- Auburndale, FL: equally priced homes
- Mulberry, FL: less expensive homes
Cities with Similar Populations
- Jackson, TN: less expensive homes
- Jacksonville, FL: higher priced homes
- Jersey City, NJ: higher priced homes
- Jacksonville, NC: less expensive homes
- Independence, MO: less expensive homes
- Henderson, NV: higher priced homes
- Hemet, CA: higher priced homes
- Highland, CA: higher priced homes
- Hattiesburg, MS: less expensive homes
- Harrisburg, PA: equally priced homes
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