Lakeland is experiencing consistent growth, attracting more residents primarily due to its affordable cost of living. The overall cost of living in Lakeland is lower than both the national and state averages, making it one of the most economical places to reside in Florida. When considering a move to a new town, it’s crucial to estimate the potential lifestyle expenses. Lakeland, being close to major cities like Tampa and Orlando, is particularly appealing, offering a cost of living that is 15% cheaper than Tampa, just a 40-minute drive away.

One significant factor that often causes stress is finding employment. Lakeland boasts a burgeoning job market, witnessing a 2.9% increase over the past year. With more people moving to the area, the job market is expected to continue growing. The city maintains an unemployment rate of 5.6%, below the national average, providing a plethora of job opportunities across various sectors such as healthcare, logistics, and retail. Major companies like Publix, Lakeland Regional Health, GEICO, Amazon Air Hub & Distribution, and Saddle Creek Logistics Services contribute to the diverse employment landscape. The average base salary of $57,698 annually allows for comfortable living in Lakeland.

As the population of Lakeland expands, so does the housing market. The market remains balanced, with supply and demand for homes relatively equal. The average home price has increased by 15% to $348,000 since the previous year, reflecting the city’s increased activity and desirability. Despite competition in the housing market, owning a home in Lakeland is considered worthwhile. Notable neighborhoods include South Lake Morton Historic District, Cleveland Heights, Lake Somerset, Lake Beulah, and more.