Lakeland, FL
Polk County · Pop. 118,393
Ranked #140 of 243 cities
38Crisis
Median Home Price
🏠$300K
5.0% YoY
Median Rent
🔑$1,450
4.0% YoY
Median Income
💰$48K
Rent Burden
📊35.0%
% of income to rent
Income to Buy
🏦$86K
annual income needed
Income to Rent
📝$58K
annual income needed
Price-to-Income
⚖️6.3x
Homeownership
🏡56.0%
Rent vs. Buy
Buy
$1,597/mo
Est. mortgage (7%, 20% down)
Need $86K/yr income
Rent
$1,450/mo
Median rent
Need $58K/yr income
How Lakeland Compares
| Metric | Lakeland | Florida | National |
|---|---|---|---|
| Home Price | $300K | $381K | $410K |
| Rent | $1,450 | $1,719 | $1,500 |
| Income | $48K | $73K | $75K |
| Rent Burden | 35.0% | 37.8% | 30.0% |
Key Takeaways
- • Home prices in Lakeland are 27% lower than the national average.
- • Rent is 3% lower than the national average.
- • You need an income of $86K to comfortably buy a home here.
- • The homeownership rate is 56.0%, compared to 65.0% nationally.