salaryRent is higher than in 60% of U.S. cities. A typical house costs about 3.1 years of household income. Most homes (79.2%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $73,880 a year. That is $36 an hour at a full-time job.
Is rent cheaper than other Tennessee cities?
No. Rent here is more expensive than in most of Tennessee. It is number 93 of 114 cities from cheapest to most expensive.
How much do households earn in Lakeland?
Share of households by yearly income. 46.2% of households earn $100,000 or more.
Rent by apartment size in Lakeland
| Size | Lakeland | U.S. average |
|---|---|---|
| 1 bedroom | $1,406 | $1,324 |
| 2 bedrooms | $1,497 | $1,509 |
| 3 bedrooms | $2,174 | $1,698 |
| 4 bedrooms | $2,053 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lakeland overall?
Everyday prices in Tennessee overall are 8% below the U.S. average (index 91.9, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lakeland, so the Tennessee figure is shown.
Taxes and bills in Lakeland
Life in Lakeland
Is it cheaper to rent or buy in Lakeland?
Renting is cheaper right now: about $851 a month less.
Owning assumes a typical $388,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $38,890 for the down payment.
Frequently asked questions
What is the average rent in Lakeland, TN?
Renting in Lakeland costs a median of about $1,847 a month in 2026, including utilities. The Tennessee median is $1,279.
How much do I need to make to live in Lakeland?
To keep rent under 30% of income, you need about $73,880 a year, or $36 an hour at a full-time job.
Is Lakeland cheap or expensive?
Lakeland is rated Cheap: rent takes 17.7% of the typical household income of $125,376. It ranks 93rd cheapest of 114 Tennessee cities we track.
How much are property taxes in Lakeland?
The median homeowner in Lakeland pays $3,880 a year in property taxes, about 1.00% of the median home value.
Is Lakeland more expensive than the national average?
Overall prices in Tennessee are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Lakeland?
The median home value in Lakeland is $388,900, about 3.1 times the typical yearly household income.
14,192 people live in Lakeland. Numbers are typical (middle) values.