Home Values

Lakeland Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$241,700

  • 3.7% 1-year change
  • 3.6% 1-year forecast

The median home value in Lakeland is $241,700. Lakeland home values have gone up 3.7% over the past year and Zillow predicts they will rise 3.6% within the next year. The median list price per square foot in Lakeland is $96, which is higher than the Memphis Metro average of $77. The median price of homes currently listed in Lakeland is $279,900 while the median price of homes that sold is $220,550. The median rent price in Lakeland is $1,395, which is higher than the Memphis Metro median of $925.

Foreclosures will be a factor impacting home values in the next several years. In Lakeland 2.4 homes are foreclosed (per 10,000). This is lower than the Memphis Metro value of 7.1 and also lower than the national value of 4.0

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 is 3.1%, which is lower than the national value of 6.4%. 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 homeowners underwater on their mortgage is 16.2%, which is lower than Memphis Metro at 24.8%.

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Relative ZHVI
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Lakeland Market Overview

Data through Jan 31, 2015
  • $241,700 ZHVI
  • 3.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $279,900 Median listing price
  • $220,550 Median sale price (Dec 31, 2014)
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Lakeland Market Health

Data through Jan 31, 2015
  • 2.9/10 Less healthy
    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.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 16.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 3.1% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

2.4 homes Lakeland
7.1 homes Memphis Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Hickory Withe $282,600
Germantown $280,000
Collierville $265,400
Name Median ZHVI
Arlington $203,200
Atoka $165,400
Bartlett $158,200
Name Median ZHVI
Oakland $151,700
Brighton $131,300
Munford $127,200

Listings & Sales

Data through Jan 31, 2015
  • $96 Median list price / sq ft
  • $93 Median sale price / sq ft
  • No data Listings with price cut
52.1%
Sold below listing
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Lakeland Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,759 Lakeland
    $1,065 Memphis Metro
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,395 Rent list price
  • $0.66 Rent list price / sq ft
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