Lakeland Metro Home Prices & Values

$119,800 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 16.8% 1-year change
  • 6.6% 1-year forecast

Market Temperature: WarmWhat's This?
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Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Buyers' Market Sellers' Market

The median home value in Lakeland Metro is $119,800. Lakeland Metro home values have gone up 16.8% over the past year and Zillow predicts they will rise 6.6% within the next year. The median list price per square foot in Lakeland Metro is $86, which is lower than the Florida average of $118. The median price of homes currently listed in Lakeland Metro is $152,225 while the median price of homes that sold is $129,550. The median rent price in Lakeland Metro is $1,325, which is lower than the Florida median of $1,460.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Lakeland Metro is 12.1%, which is higher than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Lakeland Metro homeowners underwater on their mortgage is 33.3%, which is higher than Florida at 26.8%.

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Relative ZHVI
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Lakeland Metro Market Overview

Data through May 31, 2014
  • $119,800 ZHVI
  • 6.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (May 31, 2015)
  • $152,225 Median listing price
  • $129,550 Median sale price
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Lakeland Metro Market Health

Data through May 31, 2014
  • 3.2/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 106 Average of days on Zillow (Apr 30, 2014)
  • 33.3% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 12.1% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)
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Cities in Lakeland Metro

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Lakeland Highlands $189,900 Mulberry $115,900 Haines City $108,600
Lakeland $102,400 Auburndale $100,300 Lake Wales $95,300
Winter Haven $90,600 Bartow $80,800 Frostproof $69,100

Listings & Sales

Data through May 31, 2014
  • $86 Median list price / sq ft
  • $82 Median sale price / sq ft
  • 20.8% Listings with price cut
35.3%
Sold below listing
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Lakeland Metro Rentals

Data through May 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,094 Lakeland Metro
$1,409 Florida
$1,310 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,325 Rent list price
  • $0.84 Rent list price / sq ft
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