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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 $405,971, higher than the Michigan average of $250,415.
The average cost of rent is $1,148/mo in Lakeland, primarily driven by the current value of real estate in the Lakeland area. In Lakeland, 12.24% of households rent, and 40.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakeland is $8,878 per month. Households that rent pay about 12.93% of their income on rent here. Lakeland’s most expensive areas are in the western regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Pinckney, MI: less expensive homes
- Pettysville, MI: equally priced homes
- Hamburg, MI: equally priced homes
- Hudson Mills, MI: equally priced homes
- Whitmore Lake, MI: less expensive homes
- Hell, MI: equally priced homes
- Dexter, MI: higher priced homes
- Brighton, MI: equally priced homes
- Unadilla, MI: less expensive homes
- Gregory, MI: less expensive homes
Cities with Similar Populations
- Ringtown, PA: less expensive homes
- Elysian Fields, TX: less expensive homes
- Enterprise, UT: equally priced homes
- Evensville, TN: less expensive homes
- Faison, NC: less expensive homes
- Sparta, KY: less expensive homes
- Flintville, TN: less expensive homes
- Albertson, NC: less expensive homes
- Glasgow, VA: less expensive homes
- East Brewton, AL: less expensive homes
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