Lakeland, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lakeland Neighborhoods Since 2000




Lakeland, TN Real Estate Data


Lakeland Housing Market Information

With 12,553 people, 4,619 houses or apartments, and a median cost of homes of $241,905, Lakeland real estate is some of the most expensive in Tennessee, although Lakeland home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Lakeland, accounting for 86.38% of the city's housing units. Other types of housing that are prevalent in Lakeland include large apartment complexes or high rise apartments ( 8.30%), mobile homes or trailers ( 2.07%), and a few row houses and other attached homes ( 1.77%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lakeland. Owner-occupied housing accounts for 79.56% of Lakeland's homes, and 78.01% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Lakeland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lakeland built between 2000 and later ( 38.74%). A lesser amount of the housing stock also hails from between 1940-1969 ( 5.15%). There's also some housing in Lakeland built before 1939 ( 1.84%).

Lakeland Home Appreciation Rates

Lakeland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lakeland during the period has been just -0.84%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lakeland's appreciation rate, at 5.28%, has been at or slightly above the national average. In the latest quarter, Lakeland's appreciation rate has been 1.31%, which annualizes to a rate of 5.35%.

Relative to Tennessee, our data show that Lakeland's latest annual appreciation rate is higher than 60% of the other cities and towns in Tennessee.

Average Home Values

 

Median Home Value:
$241,905

Lakeland, TN HOME PRICES

Value Range
> $1,095,000 0.0
$821,001 - $1,095,000 0.8
$548,001 - $821,000 6.2
$438,001 - $548,000 7.8
$328,001 - $438,000 10.0
$219,001 - $328,000 26.6
$109,001 - $219,000 42.0
$55,001 - $109,000 3.2
$0 - $55,000 3.5

Very High for TN
High for Nation

Value Relative to Nation Value Relative to State
24.4246647537624 6.88775510204082

Number Of Homes And Apartments:
4,619

Rent & Ownership

 

Average Market Rent:
$1,493 / per month

Homeownership Rate

Homeownership
Owners 79.56
Renters 20.44
Vacant 3.65

Housing Market Details

 

Age of Homes

AGE OF Lakeland HOMES
2000 or Newer 38.7
1970 - 1999 54.3
1940 - 1969 5.2
1939 or Older 1.8

Types of Homes

TYPE OF Lakeland HOMES
Single-Family 86.4
Townhomes 1.8
Small Apt. Buildings 1.5
Apt. Complexes 8.3
Mobile Homes 2.1
Other 0.0

Home Size

SIZE OF Lakeland HOMES
No Bedroom 0.56
1 Bedroom 1.11
2 Bedrooms 10.24
3 Bedrooms 42.26
4 Bedrooms 35.75
5 or more bedrooms 10.08

Lakeland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
6.31% 0.36% 1 1
* 10 is highest