8 Cheap Apartments for rent in Lakeland, FL

Last updated May 26 at 1:45am UTC
732 S Ingraham Ave
Cumberland
Lakeland, FL
Updated May 25 at 5:54pm UTC
1 Bedroom
$550
927 N Tennessee Ave
Parker Street
Lakeland, FL
Updated May 25 at 3:01pm UTC
1 Bedroom
$750
1122 Mercury Dr W
Lakeland
Lakeland, FL
Updated May 25 at 3:01pm UTC
2 Bedrooms
$700
721 Gilmore Avenue 2nd Floor
Parker Street
Lakeland, FL
Updated May 18 at 10:47am UTC
1 Bedroom
$750
Results within 10 miles of Lakeland, FL
2500 US-92
Winter Haven
Winter Haven, FL
Updated May 26 at 1:45am UTC
1 Bedroom
$700
2450 US-92
Winter Haven
Winter Haven, FL
Updated May 14 at 5:52pm UTC
1 Bedroom
$675
1067 S LAKE SHORE WAY
Lake Alfred
Lake Alfred, FL
Updated April 18 at 12:41am UTC
Studio
$695
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May 2018 Lakeland Rent Report

Welcome to the May 2018 Lakeland Rent Report. Lakeland rents remained steady over the past month. In this report, we'll evaluate trends in the Lakeland rental market, including comparisons to cities throughout the state and nation.

View full Lakeland Rent Report
Rent Report
Lakeland

May 2018 Lakeland Rent Report

Welcome to the May 2018 Lakeland Rent Report. Lakeland rents remained steady over the past month. In this report, we'll evaluate trends in the Lakeland rental market, including comparisons to cities throughout the state and nation.

Lakeland rent trends were flat over the past month

Lakeland rents have remained flat over the past month, however, they have increased slightly by 1.7% year-over-year. Currently, median rents in Lakeland stand at $790 for a one-bedroom apartment and $1,030 for a two-bedroom. Lakeland's year-over-year rent growth lags the state average of 2.3%, but exceeds the national average of 1.5%.

Rents rising across cities in Florida

Throughout the past year, rent increases have been occurring not just in the city of Lakeland, but across the entire state. Of the largest 10 cities that we have data for in Florida, all of them have seen prices rise. The state as a whole logged rent growth of 2.3% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Pembroke Pines is the most expensive of all Florida's major cities, with a median two-bedroom rent of $2,400; of the 10 largest Florida cities that we have data for, all have seen rents rise year-over-year, with Orlando experiencing the fastest growth (+6.8%).
  • Port St. Lucie, Tampa, and Hialeah have all experienced year-over-year growth above the state average (4.9%, 4.4%, and 4.2%, respectively).

Lakeland rents more affordable than many large cities nationwide

As rents have increased slightly in Lakeland, a few large cities nationwide have seen rents grow more quickly. Lakeland is still more affordable than most large cities across the country.

  • Lakeland's median two-bedroom rent of $1,030 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 1.7% increase in Lakeland.
  • While Lakeland's rents rose slightly over the past year, many cities nationwide saw more substantial increases, including Phoenix (+2.3%), Atlanta (+1.9%), and Denver (+1.6%).
  • Renters will find more reasonable prices in Lakeland than most large cities. For example, San Francisco has a median 2BR rent of $3,060, which is nearly three times the price in Lakeland.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.