Lakeland renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Lakeland is about $1,264 per month. This puts it in the 40th percentile compared to the city average cost of rent, which is $1,611. Households in Lakeland have a median income of $3,702 per month so the average renter in Lakeland is spending roughly 34% of their earnings on housing.
Nationally, and in Lakeland, home values are the data point most closely correlated with the cost of rent. The median price of a home in Lakeland is $121,603 right now, which is lower than nearby neighborhoods, meaning that rents in Lakeland also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the western parts of Lakeland while lower rent rates are often available in northwestern areas.
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