Rent, population, and median household income are important factors to consider for a 1031 exchange in Lakeland due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Lakeland, Florida is a part of the Lakeland-Winter Haven, FL metropolitan area area, and contains 13 zip codes, including: 33810, 33801, 33811, 33807, 33805, and 33809.
Lakeland Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lakeland, FL metropolitan area area was $980, which is 23.43% lower than 2014 average rent. This represents a compounded annual growth rate of 4.30%. 2019 vacancy in Lakeland, FL was 4.20%.
The total population of the city of Lakeland, FL has grown 13.44% since 2010. As of 2018, the population was 110,516. The median household income of the Lakeland was $44,313, which is 26.50% lower than the national average.
- metropolitan area area Lakeland-Winter Haven, FL
- avg rent $980
- rent growth 23.43%
- vacancy 4.20%
- median income $44,313
- population (2018) 110,516
- population growth 13.44%
- vs. nat'l avg 26.50%
- zip codes 33801 33802 33803 33804 33805 33806 33807 33809 33810 33811 33812 33813 33815
