Lakeland, FL Cost Of Living
Cost Of Living In Lakeland, FL Summary
Cost of living in Lakeland research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lakeland is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Florida, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lakeland is 90, with 100 being the average.
The cost of living index in Lakeland is 0.9x lower than the national average.
Lakeland ranks as the #91 cheapest in Florida out of 459.
Lakeland ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Lakeland is $171,700.
The median income in Lakeland is $52,972.
Table Of Contents
Lakeland's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lakeland, FL?
According to the most recent data on the cost of living, Lakeland has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to Florida, Lakeland has a cost of living index that's 0.9x lower than Florida's index of 101.
The standard of living in Lakeland ranks as #91 most affordable out of the 459 places we measured in Florida. By definition, that implies Lakeland ranks as the #368 most expensive place in the Sunshine State.
For more reading on life in Lakeland, check out:
- Living In Lakeland
- Lakeland Crime Report
- Search Homes For Sale In Lakeland, FL
In Florida
In America
Lakeland Cost Of Living Vs. Florida
Six factors go into calculating the cost of living index in Lakeland. Here is how it fairs on each of the criteria:
The Services index in Lakeland is 99.
The Groceries index in Lakeland is 104.
The Health index in Lakeland is 99.
The Housing index in Lakeland is 68.
The Transportation index in Lakeland is 101.
The Utilities index in Lakeland is 102.
| Living Expense | Lakeland | Florida | National Average | |
|---|---|---|---|---|
| Overall | 90 | 101 | 100 | |
| Services | 99 | 98 | 100 | |
| Groceries | 104 | 101 | 100 | |
| Health | 99 | 96 | 100 | |
| Housing | 68 | 108 | 100 | |
| Transportation | 101 | 98 | 100 | |
| Utilities | 102 | 100 | 100 | |
Lakeland, FL Housing Cost Breakdown
Housing swings affordability the most between places in Florida, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lakeland is $171,700.
The Median Rent in Lakeland is $1,115.
The Median Income in Lakeland is $52,972.
The Home Value To Income in Lakeland is 3.2x.
The Rent To Monthly Income in Lakeland is 0.25x.
| Statistic | Lakeland | Florida | United States |
|---|---|---|---|
| Median Home Value | $171,700 | $248,700 | $244,900 |
| Median Rent | $1,115 | $1,301 | $1,163 |
| Median Income | $52,972 | $61,777 | $69,021 |
| Home Value To Income | 3.2x | 4.0x | 3.5x |
| Rent To Monthly Income | 0.25x | 0.25x | 0.2x |
Median Home Value
Median Rent
Median Income
Lakeland, FL Costs By Category
Detailed Lakeland Services Costs Vs. Florida
Detailed Lakeland Groceries Costs Vs. Florida
Detailed Lakeland Health Costs Vs. Florida
Detailed Lakeland Transportation Costs Vs. Florida
Detailed Lakeland Utilities Costs Vs. Florida
Lakeland SnackAbility
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Cost Of Living In Cities Around Lakeland
The cost of living varies in the cities and towns around Lakeland. Here's a quick look at the cost of living in the most populous nearby places:
Corona, CA has a cost of living index of 134, 1.5x Lakeland.
Murrieta, CA has a cost of living index of 130, 1.4x Lakeland.
Temecula, CA has a cost of living index of 135, 1.5x Lakeland.
| City | Population | Cost Of Living | Vs. Lakeland |
|---|---|---|---|
| Corona, CA | 157,844 | 134 | 1.5x |
| Murrieta, CA | 111,096 | 130 | 1.4x |
| Temecula, CA | 109,376 | 135 | 1.5x |
| Menifee, CA | 101,089 | 120 | 1.3x |
| Mission Viejo, CA | 93,932 | 166 | 1.8x |
| Lake Forest, CA | 85,516 | 159 | 1.8x |
| Lake Elsinore, CA | 68,822 | 119 | 1.3x |
| San Clemente, CA | 64,600 | 185 | 2.1x |
| Rancho Santa Margarita, CA | 48,190 | 163 | 1.8x |
| Wildomar, CA | 36,511 | 123 | 1.4x |
