Lakeland, FL—33809
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lakeland, FL
As of Oct '25, the median home price in Lakeland, FL is $312,000, with a year-over-year change of -4.2%. This indicates that home prices in Lakeland, FL are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $312,000 | -4.2% |
| Single Family | $315,000 | -4.3% |
| Condos | $187,000 | -6.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | -7.1% |
3 Bed | $314,000 | -4.0% |
4 Bed | $400,000 | -2.2% |
| 5 Bed | $494,000 | -1.8% |
% of Housing Stock
Rental Trends — Lakeland, FL
As of July '25, Rentcast reports the average rent in Lakeland, FL is $1,750, with a year-over-year rent change of -5.9%. Per bedroom, the median rent as of July '25 in Lakeland, FL is studios: $1,250, 1-bedrooms: $1,280, 2-bedrooms: $1,570, 3-bedrooms: $1,870, 4-bedrooms: $2,210. The most common rental property sizes in Lakeland, FL are 2-bedroom and 3-bedroom, accounting for 46.6% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,750 |
| Studio Rent | $850 | $1,250 |
| 1 Bed Rent | $1,300 | $1,280 |
| 2 Bed Rent | $1,500 | $1,570 |
| 3 Bed Rent | $1,850 | $1,870 |
| 4 Bed Rent | $2,230 | $2,210 |
% of Rental Stock
Property Listings — Lakeland, FL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lakeland, FL is 69. This is a increase of 16.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $365,000 | 8.0% |
Listing Count | 124 | 7.0% |
| Listings as % of Homes | 0.8% | 7.0% |
Days on Market | 69 | 16.0% |
Demographics — Lakeland, FL
As of the latest ACS Survey released in 2023, Lakeland, FL has a population of 30,500, which has increased by 1.2% over the past 5 years. Lakeland, FL is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,500 | 1.2% |
% Under 18 | 21.6% | 20.7% |
% Seniors | 22.4% | -2.2% |
% WFH | 10.6% | 194.4% |
% w/ College Degree | 26.9% | 31.9% |
As of the latest ACS Survey released in 2023, Lakeland, FL is a predominantly white area, with 63.4% of the population identifying as white. The white population has shrunk by 11.8% in the last 5 years. The second most common race or ethnicity in Lakeland, FL is hispanic, making up 18.5% of the population. Foreign-born residents account for 10.7% of the population in Lakeland, FL, and this percentage has increased by 57.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 63.4% | -11.8% |
% Black | 12.1% | 33.0% |
% Hispanic | 18.5% | 25.9% |
% Asian | 3.0% | 3.4% |
% Foreign Born | 10.7% | 57.4% |
Mortgage and Risk — Lakeland, FL
According to HUD data as of 2023, there were 493 mortgage originations in Lakeland, FL, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Lakeland, FL. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 493 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Lakeland, FL
As of 2024, the percent of homes in Lakeland, FL under the Section 8 program is 0.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Lakeland, FL, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 62 |
Total Units Section 8 | 13 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,300 | $1,230 |
| 2 Bedroom | $0 | $1,500 | $1,500 |
| 3 Bedroom | $170 | $1,850 | $2,020 |
| 4 Bedroom | $290 | $2,230 | $2,520 |
Affordability — Lakeland, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $312,000 |
| Median Household Income | $67,100 |