Lakeland, FL—33803
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 $286,000, with a year-over-year change of -5.0%. This indicates that home prices in Lakeland, FL are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $286,000 | -5.0% |
| Single Family | $295,000 | -5.4% |
| Condos | $188,000 | -9.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $124,000 | -8.8% |
2 Bed | $198,000 | -9.6% |
3 Bed | $295,000 | -4.8% |
4 Bed | $471,000 | -4.3% |
| 5 Bed | $824,000 | -3.7% |
% of Housing Stock
Rental Trends — Lakeland, FL
As of July '25, Rentcast reports the average rent in Lakeland, FL is $1,670, with a year-over-year rent change of -9.2%. Per bedroom, the median rent as of July '25 in Lakeland, FL is studios: $1,030, 1-bedrooms: $1,150, 2-bedrooms: $1,480, 3-bedrooms: $2,130, 4-bedrooms: $2,640. The most common rental property sizes in Lakeland, FL are 2-bedroom and 3-bedroom, accounting for 44.0% and 21.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,510 | $1,670 |
| Studio Rent | $1,030 | $1,030 |
| 1 Bed Rent | $1,150 | $1,150 |
| 2 Bed Rent | $1,450 | $1,480 |
| 3 Bed Rent | $2,000 | $2,130 |
| 4 Bed Rent | $3,500 | $2,640 |
% 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 86. This is a increase of 42.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $359,000 | 5.0% |
Listing Count | 159 | 3.0% |
| Listings as % of Homes | 0.8% | 3.0% |
Days on Market | 86 | 42.0% |
Demographics — Lakeland, FL
As of the latest ACS Survey released in 2023, Lakeland, FL has a population of 29,100, which has decreased by -2.1% over the past 5 years. Lakeland, FL is a moderately popular place for families, as children make up 17.1% of the population. The area has a moderately educated workforce, with 33.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,100 | -2.1% |
% Under 18 | 17.1% | -13.6% |
% Seniors | 23.9% | 11.7% |
% WFH | 12.0% | 185.7% |
% w/ College Degree | 33.8% | 6.3% |
As of the latest ACS Survey released in 2023, Lakeland, FL is a predominantly white area, with 69.8% of the population identifying as white. The white population has shrunk by 6.1% in the last 5 years. The second most common race or ethnicity in Lakeland, FL is hispanic, making up 19.9% of the population. Foreign-born residents account for 11.1% of the population in Lakeland, FL, and this percentage has increased by 4.7% 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 | 69.8% | -6.1% |
% Black | 5.8% | -35.6% |
% Hispanic | 19.9% | 47.4% |
% Asian | 2.3% | 53.3% |
% Foreign Born | 11.1% | 4.7% |
Mortgage and Risk — Lakeland, FL
According to HUD data as of 2023, there were 530 mortgage originations in Lakeland, FL, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Lakeland, FL. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 530 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lakeland, FL
As of 2024, the percent of homes in Lakeland, FL under the Section 8 program is 0.9%. 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Lakeland, FL, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 49 |
Total Units Section 8 | 43 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,150 | $1,230 |
| 2 Bedroom | $60 | $1,450 | $1,510 |
| 3 Bedroom | $30 | $2,000 | $2,030 |
| 4 Bedroom | -$960 | $3,500 | $2,540 |
Affordability — Lakeland, FL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $286,000 |
| Median Household Income | $63,200 |