$1,750 Per Month
- 3 Beds
- 1 Bath
- 1,080 Sq Ft
- House for Rent
516 W 7th St, Lakeland, FL 33805
516 W 7th St, Lakeland, FL 33805
Frequently Asked Questions
How much does it cost to rent a single-family home in Lakeland, FL?
The median rent for a single-family home in Lakeland, FL is $1,900 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Lakeland, FL?
To comfortably afford the median rent in Lakeland, FL, a household needs to earn roughly $68,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,700 per month in Lakeland, FL, renters typically need to show $5,100 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lakeland, FL?
In Lakeland, FL, the price-to-rent ratio is 16.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Lakeland, FL are best for renting a single-family home?
The best neighborhood for renting in Lakeland, FL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a single-family home include Paul A Diggs, Downtown Lakeland, Westgate Central, Combee Settlement and Dixieland, each with its own character and price range.
