Living in Lakeland, Tennessee
Cost of living, income, home prices, rent and demographics of Lakeland · Census data 2020–2024
Lakeland has 14,192 residents with a median age of 41. The median household income is $116,250 (67% higher than the Tennessee median), the median home value is $388,900, the median rent is $1,755/month.
Lakeland at a glance
- Population
- 14,192
- Median age
- 41State: 38.9
- Median household income
- $116,250State: $69,595
- Median home value
- $388,900State: $286,700
- Median rent
- $1,755/moState: $1,189
- Homeowners
- 79.2%
- Bachelor's degree or higher
- 53.1%
- Average commute
- 26 min
Is Lakeland a good place to live?
Pros: Median household income 67% higher than the Tennessee median; an average commute of 26 minutes; unemployment of 2.8%; a poverty rate of 3.2%.
Cons: Home values 36% higher than the state median.
The weather is best in April–May and September–October.
Cost of living in Lakeland
Housing is the biggest part of the cost of living. In Lakeland the median home value is $388,900, 17% higher than the U.S. median. Renters pay a median of $1,755 per month, which is 40.1% of household income. Homeowners with a mortgage pay $2,318 a month in housing costs.
Lakeland median household income
The median household income in Lakeland is $116,250 and the income per person is $56,035. 3.2% of residents live below the poverty line (Tennessee: 13.8%).
Housing in Lakeland: homes for sale and rent
- Housing units
- 5,519
- Owner-occupied
- 79.2%
- Renter-occupied
- 20.8%
- Vacant
- 3.7%Includes seasonal homes
- Median year built
- 2000
- Average household size
- 2.67
Lakeland demographics
- Population
- 14,192
- Median age
- 41
- Under 18
- 27.4%
- 65 and older
- 16.7%
- Households
- 5,313
- Foreign-born
- 11.5%
- Veterans
- 8.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Lakeland ›
Education in Lakeland
53.1% of adults 25 and older in Lakeland have a bachelor's degree or higher (Tennessee: 31.1%), and 20.3% have a graduate or professional degree.
Jobs and commute in Lakeland
- Unemployment rate
- 2.8%State: 4.7%
- Average commute
- 26 minState: 26 min
- Work from home
- 15%
- Drive alone
- 80.1%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 95.4%
Lakeland vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lakeland | 14,192 | $116,250 | $388,900 | $1,755 |
| Arlington | 15,205 | $135,105 | $424,400 | $2,164 |
| Bartlett | 56,876 | $102,070 | $310,400 | $1,638 |
| Gallaway | 609 | $30,208 | $184,400 | $455 |
| Oakland | 9,979 | $97,798 | $319,100 | $1,992 |
| Millington | 11,289 | $49,979 | $207,300 | $1,111 |
| Braden | 308 | $82,115 | $280,000 | $1,200 |
| Atoka | 10,385 | $89,663 | $320,700 | $1,237 |
| Germantown | 40,673 | $149,920 | $470,800 | $1,816 |
More for people moving to Lakeland
Lakeland ZIP code ›Weather and climate ›Living in Lakeland: FAQ
What is the median household income in Lakeland, TN?
The median household income in Lakeland is $116,250, 67% higher than the Tennessee median of $69,595 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lakeland?
The median home value in Lakeland is $388,900, compared with $286,700 in Tennessee.
How much is rent in Lakeland?
The median gross rent in Lakeland is $1,755 per month, about 40.1% of household income.
Is Lakeland, TN a good place to live?
Pluses: median household income 67% higher than the Tennessee median; an average commute of 26 minutes; unemployment of 2.8%; a poverty rate of 3.2%. Minuses: home values 36% higher than the state median.
What is the median age in Lakeland?
The median age in Lakeland is 41 years (Tennessee: 38.9).
How long is the commute in Lakeland?
The average commute to work in Lakeland is 26 minutes; 15% of workers work from home.
What is the unemployment rate in Lakeland?
The unemployment rate in Lakeland is 2.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lakeland?
53.1% of adults in Lakeland have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: