Cost of Living in Lakeland, FL

Population 117,030 · Florida · Data vintage 2023

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

Lakeland lands reasonably close to national benchmarks on most cost indicators, with a median home value of $229,000 — 25% below the US figure. That makes it a useful reference point for comparing with more extreme markets in Florida.

Cost Overview

Housing 75

Rent 99

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Lakeland

The median home value in Lakeland is $229,100 — 25% below the national median of $305,000. Median rent runs $1,299/month, 1% lower than the national median of $1,314/month. The median household income of $60,947/year is 18% lower than the US median of $74,580. The local unemployment rate is 5.1%, above the national average of 4.8%. Florida charges no state income tax, a meaningful advantage for take-home pay. Overall, Lakeland has a cost of living index of 85 versus the US average of 100, meaning it is 15% less expensive.

🏠 Housing

Median Home Value

$229,100

25% below avg

Zillow Home Value

$309,288

Zillow ZHVI

Median Rent

$1,299/mo

1% below avg

Zillow Rent

$1,677/mo

Zillow ZORI

Price-to-Rent Ratio

14.7x

Favors buying

Property Tax Rate

0.9%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$1,085

1 BR

$1,181

2 BR

$1,427

3 BR

$1,797

4 BR

$2,099

Owner-occupied 56.1%

Renter-occupied 43.9%

💰 Estimated Monthly Budget

Rent median rent

$1,299

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,913/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

25.6 min

5% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

11.6%

Commute Mode

Drove alone

73.7%

Carpooled

8.2%

Public transit

0.5%

Walked

2.7%

Bicycle

1.2%

Work from home

11.6%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax (flat) None

Total Sales Tax 7.0%

State rate 6.0%

Avg local rate 1.1%

Property Tax 0.9%

💼 Income & Employment

Median Household Income

$60,947

18% below avg

Per Capita Income

$34,313

Unemployment Rate

5.1%

5% above avg

Poverty Rate

14.5%

Labor Force Participation

55.7%

🎓 Education

Bachelor's degree+ 17.7%

Graduate degree 9.9%

👥 Demographics

Median Age 39.9

Male median age 37.5

Female median age 42.4

💨 Air Quality

EPA AQS 2023 — county-level monitoring data

Median AQI 42 — Good

75.3%

Good air days/yr

101

Max AQI recorded

145

PM2.5 days

220

Ozone days

Frequently Asked Questions

What is the cost of living in Lakeland, FL?

Lakeland has a cost index of 85 (100 = national average). It is 15% below the national average.

What is average rent in Lakeland, FL?

The median gross rent in Lakeland is $1,299 per month based on 2023 Census data.

What is the average home price in Lakeland?

The median home value in Lakeland is $229,100 according to Zillow and Census data.

What is the median income in Lakeland?

The median household income in Lakeland is $60,947 per year (2023 ACS 5-year estimates).

What is the sales tax in Lakeland, FL?

The combined state and local sales tax rate in Lakeland is 7.0%. Florida has no state income tax.

Is Lakeland, FL affordable?

Yes, Lakeland is generally considered affordable, with a cost of living index of 85 — about 15% below the US national average of 100.

Lakeland at a Glance

Population: 117,030
Median Income: $60,947
Home Value: $229,100
Median Rent: $1,299/mo
Unemployment: 5.1%
Sales Tax: 7.0%

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