Lakeland, Florida Housing Market Prices
Lakeland Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 21% below the Florida median$246,250
-
Median rent 18% below the Florida median$1,361
Housing Market Overview
| Metric | Lakeland | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,250 | $311,338 | $248,835 |
| Price Trend (Annual %) | 24.2% | 11.2% | 7.5% |
| Median Gross Rent | $1,361 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lakeland is about 21% lower than in Florida. Rent is about 18% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lakeland, up about 24.2% and 5.7% a year respectively. Home prices are changing faster.
Median rent in Lakeland rose about 59.5% between 2015 and 2024, from $853 to $1,361. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Lakeland.
Buying the median-priced home in Lakeland costs roughly 15.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lakeland. The price-to-rent ratio in Florida is about 15.6.
| Metric | Lakeland | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $246,250 | $311,338 | $248,835 |
| Median Household Income | $65,570 | $74,580 | $80,455 |
| Price-to-Income Ratio | 3.8 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lakeland rose about 361.2%, while median household income rose about 49.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lakeland | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.2% | 57.7% | 58.5% |
| Rental Rate | 35.8% | 27.7% | 31.2% |
| Vacancy Rate | 12.9% | 14.6% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Lakeland has a homeownership rate of 51.2%, lower than the Florida average of 57.7%. Its housing vacancy rate is 12.9%, compared with 14.6% in Florida.
Housing Stock
| Metric | Lakeland | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1981 | 1988 | 1978 |
| Median Number of Rooms | 5.2 | 5.2 | 5.5 |
The typical housing unit in Lakeland was built around 1981. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lakeland, Florida.
What is the median home price in Lakeland, Florida?
The median home price in Lakeland, Florida is $246,250, lower than the Florida average of $311,338.
What is the average home price in Lakeland, Florida?
The typical home price in Lakeland, Florida, reported as the median sale price, is $246,250. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lakeland, Florida?
The median gross rent in Lakeland, Florida is $1,361 per month, lower than the Florida average of $1,668.
What was the median gross rent in Lakeland in 2020?
In 2020, the median gross rent in Lakeland, Florida was $1,022 per month.
What is the price-to-rent ratio in Lakeland, Florida?
The price-to-rent ratio in Lakeland, Florida is about 15.1, meaning it would take roughly 15.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Lakeland.
Are home prices or rent rising faster in Lakeland, Florida?
Both home prices and rent are rising in Lakeland, up about 24.2% and 5.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lakeland, Florida?
51.2% of households in Lakeland, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Lakeland, Florida?
The housing vacancy rate in Lakeland, Florida is 12.9%, lower than the Florida average of 14.6%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →