Located in the state of Florida, Lakeland is a mid-sized city with a population of 102,714 people. According to the most recent Census, 73% of Lakeland residents are White, 20% Black and 2% Asian. If you are not a fan of long commutes, you will enjoy living in Lakeland. With average one way commute time of only 21 minutes, getting to and from work is a breeze compared to the national average of 26 minutes.
If you’re considering moving to any new city, it could be a very daunting task. However, it could also be a positive experience if you are willing to get to know the area before actually living in Lakeland, Florida. Finding the best places to live in Lakeland and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, cost of living, employment, housing and other important metrics.
Using data and statistics Lakeland has received a livability score of 79/100. This score is ranked in the 93rd percentile when compared to all other cities. Compared to the US average, Lakeland ranks among some of the best places to live in the country! Another exciting tidbit, is that Lakeland ranks better than 90% of all US cities! There are seven total categories that form the livability score. Lakeland ranks well for amenities (A+), cost of living (B-), weather (A) and housing (B+). There is at least one category that does not have great scores in Lakeland. The following was graded with a disappointing score: crime (F) and employment (D-).
Conveniently located amenities and interesting attractions are a great way to continuously enjoy Lakeland on a regular basis. Knowing that there are an abundance of amenities and things to do can ensure that you always have access to nearby grocery stores, restaurants and coffee shops. Some of the interesting things to do and attractions include: Hollis Garden, Joker Marchant Stadium, and Florida Southern College.
The Lakeland unemployment rate (0%) has continued to decrease over the years and is now well below the national average. Finding a new job in the area might just be easier than you thought!
Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Lakeland has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Assuming that Lakeland meets all of your requirements, the next most important item to examine is the affordability of real estate in Lakeland. Everything else becomes a lot less important if it turns out that home prices in Lakeland are simply unattainable. Median real estate prices in Lakeland come in at $109,300, which is 34.5% lower than the Florida average. The home price to income ratio compares the median home prices to the median household income. In Lakeland, the home price to income ratio is 2.7, which is 20.6% lower than the Florida average. Purchasing your new home can come with many financial benefits, some of which are more lucrative than others. Perhaps the most notable benefit could be the appreciation of your new home. Home appreciation rates are a good way to generate tax-free equity on a long term basis. The year over year appreciation rates in Lakeland were 9.9%, and the 5 year appreciation rates came in at 12.2%.
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