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City · 119,961 residents · Polk County, Florida

Lakeland , Florida

In Lakeland, a typical home is worth $249,400 and typical rent is $1,395 a month. Compared with all of Polk County, the typical home value is 6% lower and the share of households that own their home is 14 points lower.

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  • Typical home value

    $249,400

    6% below the county

    31% below Florida

    • Lakeland
    • Polk
    • Florida

  • Typical rent

    $1,395a month

    2% above the county

    16% below Florida

    • Lakeland
    • Polk
    • Florida

  • Typical household income

    $64,185a year

    3% below the county

    14% below Florida

    • Lakeland
    • Polk
    • Florida

  • Households that own their home

    56%

    14 points below the county

    11 points below Florida

    • Lakeland
    • Polk
    • Florida

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$309,422
1.2% less than 12 months ago
Typical rent
$1,687 a month
1.1% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Lakeland is in Polk County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Polk County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lakeland apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Fussels Corner, the typical home value is $92,100: 63% less than in Lakeland ($249,400).

  2. Nearby, in Fussels Corner, the typical rent is $937: 33% less than in Lakeland ($1,395).

  3. 56% of households in Lakeland own their home, against 70% in Polk County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lakeland

What homes there are in Lakeland, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Lakeland there is a bit of everything: no kind of home reaches half. The most common are detached houses (49%); in Polk County, 62%.

Year built

Homes in Lakeland are older: the typical year built is 1983; in Polk County, 1992.

There are fewer big homes in Lakeland than in Polk County: 45% have 3 bedrooms or more, against 61%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Lakeland sit under the FHA limit for Polk County ($541,287): about 92%.

Monthly rent with utilities

Measured against HUD's 2-bedroom fair market rent ($1,608), about 64% of rented homes in Lakeland cost less.

With a mortgage

$1,721 a month

Polk County: $1,716 a month

Without a mortgage

$554 a month

Polk County: $545 a month

Owners with a mortgage

51%

Polk County: 56%

The typical cost for an owner with a mortgage in Lakeland is $1,721 a month, near the figure in Polk County ($1,716).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Lakeland rose 67%; in Polk County, it rose 77%.

The typical rent in Lakeland rose 40% since 2015–2019, about the same as in Polk County (39%).

Here income did not keep up with housing: it rose 35%, while home values changed +67% and rent +40%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLakelandPolk CountyFloridaUnited States
Rental vacancy 6.9%5.1%7.6%5.5%
Homeowner vacancy 1.4%1.5%1.4%0.9%
More than one person per room 3.1%3.4%3.3%3.4%
People per household 2.332.682.512.53
Drive alone 70%75%70%69%
Carpool 8%9%9%9%
Public transit Unreliable estimate0%1%3%
Walk or bike 4%2%2%3%
Work from home 14%12%16%15%
Other means 2%2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

There is more rental housing open in Lakeland: 6.9% is empty and offered for rent, against 5.1% in Polk County.

Much as in Polk County, 3.1% of households in Lakeland have more than one person per room.

Fewer people live in each home here: 2.33 on average, against 2.68 in Polk County.

To get to work, 70% of workers in Lakeland drive alone; in Polk County, 75%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lakeland?

A typical home costs more than the typical income allows

We start with a typical home in Lakeland, worth $249,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Lakeland, which is $64,185 a year. For that payment to be 28% of income, a household would need to earn about $86,780 a year.

The calculator's FHA and conventional loan limits are those of all of Polk County.

Your numbers

Local data
$

Starts at the typical home value in Lakeland. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $8,729 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,025

at 7.18% · 30 years

Loan amount
$244,883
Total interest
$352,329
Paid off in
November 2056

Includes $4,212 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,498 a month

  • Tight

    $1,498 to $1,926 a month

  • Hard

    more than $1,926 a month

    Your payment · 38%

Compared with the typical household income in Lakeland ($64,185 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,025
Principal & interest$1,659
Property tax$152
Home insurance$104
FHA mortgage insurance (MIP)$110

You need at least $8,729 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lakeland and Polk County

Lakeland is in Polk County, Florida. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lakeland's own numbers

Typical home value
$249,400
Typical monthly rent
$1,395
Typical yearly household income
$64,185
Households that own their home
56%
Effective property tax rate
0.73%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Polk County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,608
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
3.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Polk County.

Everything about Polk County

Buying

Buying a home in Lakeland

A typical home in Lakeland is worth $249,400: 6% below the county and 31% below Florida. With the typical household income in Lakeland ($64,185 a year), a typical home costs 3.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lakeland 3.9 years
  • Polk 4.0 years
  • Florida 4.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Polk County

According to FHFA’s house price index, home prices in Polk County rose 141% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Polk County.

Period County Florida U.S.
Last year (2025) −1.2% −0.5% +2.9%
5 years (2020–2025) +58% +60% +47%
10 years (2015–2025) +141% +127% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lakeland next to Polk County, Florida and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lakeland $249,400
  • Polk $266,500
  • Florida $359,000
  • United States $332,700
Typical monthly rent
  • Lakeland $1,395
  • Polk $1,363
  • Florida $1,669
  • United States $1,413
Typical yearly household income
  • Lakeland $64,185
  • Polk $65,978
  • Florida $74,568
  • United States $80,734
See the full table
Lakeland next to Polk County and Florida
Measure Lakeland Polk County Florida U.S.
Typical home value $249,400 $266,500 $359,000 $332,700
Typical monthly rent $1,395 $1,363 $1,669 $1,413
Typical yearly household income $64,185 $65,978 $74,568 $80,734
Households that own their home 56% 70% 68% 65%
Typical yearly property tax $1,819 $1,933 $2,730 $3,119
Effective property tax rate 0.73% 0.73% 0.76% 0.94%
Renters with high rent for their income 51% 54% 60% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Polk County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lakeland

For a typical $249,400 home in Lakeland, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lakeland's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,025a month

    Least cash to close
    Down payment
    $8,729
    Cash to close
    $16,211
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $110

  • Conventional, 5% down $1,979a month

    Down payment
    $12,470
    Cash to close
    $19,952
    Rate
    7.18%
    Mortgage insurance
    PMI · $118

  • Conventional, 20% down, no PMI $1,607a month

    Down payment
    $49,880
    Cash to close
    $57,362
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,838a month

    Down payment
    $37,410
    Cash to close
    $44,892
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lakeland and for Polk County.

Property tax

Effective rate in Lakeland

0.73%of the home’s value each year

$1,819 a year for the typical owner in Lakeland.

  • Lakeland 0.73%
  • Polk 0.73%
  • Florida 0.76%

What Florida publishes Homestead exemption (Florida Department of Revenue)

Exemptions and deadlines in Florida

Flood risk in Polk County

FEMA does not publish these numbers by city: they are for all of Polk County.

Homes in the high-risk zone
3.9%
10,707
Of those, with NFIP insurance
37%
County Florida U.S.
Homes in the high-risk zone 3.9% 13% 3.5%
Of those, with NFIP insurance 37% 67% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lakeland

Typical rent in Lakeland is $1,395 a month: 2% above the county. In Lakeland, 51% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Polk County, by unit size. To pay the 2-bedroom one ($1,608 a month) without spending more than 30% of your income, you would need to earn $30.92 an hour working full time.

HUD fair market rent for all of Polk County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,258 $24.19 $50,320
1 bedroom $1,338 $25.73 $53,520
2 bedrooms $1,608 $30.92 $64,320
3 bedrooms $2,212 $42.54 $88,480
4 bedrooms $2,688 $51.69 $107,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lakeland

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lakeland has 4 ZIP codes with their own.

For 2 bedrooms it runs from $1,350 in 33815 to $1,830 in 33803.

1 of the 4 is above the fair market rent for Polk County ($1,608).

  • 33803 $1,830$2,520
  • 33805 $1,500$2,060
  • 33811 $1,580$2,170
  • 33815 $1,350$1,860

4 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lakeland when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Lakeland

HUD lists 27 buildings with rents for lower incomes in Lakeland. These are the largest.

  • Providence Reserve 815 Providence Reserve Loop, Lakeland 33805 220 homes, 218 low-income · 2 bd: 132 · 3 bd: 72 · 4 bd: 16 · In service since 1999
  • Cambridge Cove 1700 Cambridge Cove Pass, Lakeland 33810 200 low-income homes · 1 bd: 48 · 2 bd: 88 · 3 bd: 40 · 4 bd: 24 · In service since 2002 · For families
  • Wilmington 5425 Wilmington Blvd, Lakeland 33813 200 low-income homes · 1 bd: 40 · 2 bd: 100 · 3 bd: 60 · In service since 2003 · For families
  • Renaissance at Washington Ridge 1550 Hawkins Way, Lakeland 33805 196 low-income homes · 1 bd: 78 · 2 bd: 78 · 3 bd: 36 · 4 bd: 4 · In service since 2003 · For older adults, families
  • ST Luke's Life Center 909 Quincy St, Lakeland 33815 150 low-income homes · 1 bd: 76 · 2 bd: 74 · In service since 2007 · For older adults, families

See all 54 buildings in Polk County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Lakeland

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Polk County; 1 says it serves in Spanish.

A man leans over the armchair where a girl is reading a book.

HUD counseling is free or low-cost

Assistance programs in Lakeland

No down payment, repair or rent-help program on our list is for Lakeland or Polk County. The ones below are statewide in Florida: they work in Lakeland the same as in the rest of the state.

Which programs do I qualify for? All programs in Florida

Housing counselors near Lakeland

The HUD-approved agencies closest to the center of Lakeland, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Housing and Neighborhood Development Services of Central Florida, Inc.

    825 E Main St, Lakeland · 1 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (863) 682-1025

  • Operation Hope- Tampa

    2208 E Fowler Ave, Tampa · 29 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (813) 867-9658

  • Solita's House Inc

    1029 E Hillsborough Ave, Tampa · 30 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (813) 425-4847

Every agency in Polk County All counseling agencies in Florida

Help in Spanish near Lakeland

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lakeland

HUD’s record names them for Lakeland or Polk County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Lakeland Public housing and Section 8 vouchers (863) 687-2911

4 other authorities have an office in Polk County: see the list Source: HUD

Cities

Other cities in Polk County

These cities are also in Polk County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Polk County Housing in Florida
See 11 more cities in Polk County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Lakeland, with the typical home value.

Neighboring counties

If Polk County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lakeland.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Lakeland

Short answers with the numbers for Lakeland and all of Polk County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lakeland?

The typical home value in Lakeland is $249,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Polk County it is $266,500.

How much does it cost to rent in Lakeland?

Typical rent in Lakeland is $1,395 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Polk County is $1,608.

What is the FHA loan limit in Lakeland?

Lakeland uses the FHA limit for all of Polk County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Lakeland?

The typical homeowner in Lakeland pays $1,819 a year, according to the U.S. Census Bureau. That is 0.73% of the home’s value; in Polk County, the rate is 0.73%.

Where can I find free help to buy or rent in Lakeland?

There is 1 HUD-approved counseling agency with an office in Polk County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).