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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 $436,914, higher than the Minnesota average of $345,793.
The average cost of rent is $1,631/mo in Lakeland, primarily driven by the current value of real estate in the Lakeland area. In Lakeland, 9.97% of households rent, and 36.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakeland is $9,468 per month. Households that rent pay about 17.23% of their income on rent here. Lakeland’s most expensive areas are in the northwestern 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
- Lakeland Shores, MN: equally priced homes
- Lake St. Croix Beach, MN: less expensive homes
- St. Marys Point, MN: equally priced homes
- North Hudson, WI: equally priced homes
- Afton, MN: higher priced homes
- Hudson, WI: equally priced homes
- Bayport, MN: less expensive homes
- Oak Park Heights, MN: equally priced homes
- Lake Elmo, MN: higher priced homes
- Stillwater, MN: higher priced homes
Cities with Similar Populations
- Sherman, NY: less expensive homes
- Gibraltar, MI: less expensive homes
- Gladys, VA: less expensive homes
- Hardaway, AL: less expensive homes
- Hollsopple, PA: less expensive homes
- Iron City, TN: less expensive homes
- Jefferson, SD: less expensive homes
- Kearny, AZ: less expensive homes
- Avon-by-the-Sea, NJ: higher priced homes
- Loysville, PA: less expensive homes
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