Real Estate Investing in College Park, FL: Where to Buy a Property (2024)
Lakeland is a city in central Florida, located East of Tampa and West of Orlando. Lakeland offers more affordable housing than Tampa and Orlando, with opportunities for real estate gains if investors know what to look for. Working with an estate agent to invest in Lakeland property could help you to grow your wealth in both the short-term and long-term.
Key Takeaways
- Lakeland is a city in central Florida
- The median house price in Lakeland is $360,000
- Lakeland is more affordable than cities like Tampa and Orlando
- Single and multi-family homes are available across Lakeland
- The city’s major industries are farming and mining
- Lakeland is a beautiful city known for its many lakes
- On average, Lakeland property takes around 2 months to sell
The Best Investing Strategies In Lakeland, FL
Investing in property in Lakeland, FL can yield both short-term and long-term gains depending on the investing strategy that you choose to employ. Lakeland is a smaller city in Florida with a population of around 110,000 people. Two of its major industries, farming and mining, attract many workers and bolster the town’s economy.
Lakeland’s property market offers a wide variety of homes including single and multi-family homes. With a median age of 41, Lakeland is a popular city among families and young professionals, many of whom will be looking for family homes. Look for properties near good schools and local amenities to maximize the attractiveness of your property to potential renter or buyers.
Lakeland is a popular city but there are significant differences in safety and quality of life from neighborhood to neighborhood. Do your research and explore the areas you’re considering buying in to make sure that your Lakeland real estate is located in a sought-after area of the city.
Lakeland, FL Real Estate Investment Tips & Tricks
Investing in real estate in Lakeland, FL can be a lucrative way to grow your wealth. Our tips and tricks can help you to get the most from your Lakeland investment:
- Neighborhood appeal: Lakeland is an attractive prospect for buyers, but the appeal of different neighborhoods throughout the city will vary hugely. Look for areas that have good schools, safe streets, and plenty of amenities, like Lake Hollingsworth.
- Property type: Consider your investing goals and target demographic before purchasing a property in Lakeland. Do you want to rent out a home to a young family or flip a property quickly? This decision will affect the type and size of property you purchase.
- Team up with a local estate agent: Local estate agents will have expert insight into the property market in Lakeland and surrounding towns. Working with a local estate agent will prevent you from overlooking important local details and increase your chances of getting a good deal.
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Is Lakeland, FL, A Good Real Estate Investment?
Lakeland property is a good real estate investment, especially for buyers looking for affordable properties to sell on for a profit. Lakeland property may not be as internationally desirable as properties in bigger cities like Orlando, but locally the Lakeland property market is known for its relatively good value and affordability.
The average number of days that a Lakeland, FL property spends on the market is just 62, or around two months. This shows that the demand for properties in Lakeland remains high, especially during the peak summer months, although they don’t sell as quickly as properties in cities like Tampa and Orlando.
(From: Realtor.com)
Lakeland property may be popular among investors looking for relatively affordable property. The average Lakeland property price is around $360,000, which is somewhat lower than many other parts of Florida including Tampa and Orlando.
While the price tag of most homes in Lakeland is affordable, these prices are trending upwards. This means that Lakeland property provides a good opportunity for investors hoping to sell for a profit further down the line.
Is It A Good Time To Invest In Real Estate In Lakeland, FL?
Properties across the whole of Florida have been in high demand in recent years. The state’s population is rising by around 1% per year due to its sunny weather and stable job market. Lots of people want to move to Florida, and Lakeland property prices will benefit from this rapid influx of residents.
A steady stream of new residents means that Lakeland properties are always in demand. It’s not hard to sell properties in Lakeland, although they may be less sought-after than properties in bigger cities like nearby Tampa. Florida’s landlord-friendly laws also make Lakeland a desirable investment prospect for many buyers.
If you’re looking for affordable family homes in Florida, to live in, rent out, or flip, Lakeland could be an excellent place to look. With prices trending upwards and properties of all types of sizes available, Lakeland offers good investment opportunities at this point in time.
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Best Areas And Neighborhoods To Invest In Lakeland, FL
The safety, convenience, and attractiveness of different neighborhoods in Lakeland can vary hugely, so it’s important to purchase real estate in an area with high appeal.
Lake Hollingsworth is an attractive neighborhood that offers scenic views over the lake and plenty of local walking trails and hiking spots. Some of the best schools in Lakeland are located here, which means it’s a popular area among families.
Grasslands is a safe and secure gated community located near the Grassland Gold & Country Club. It’s an upscale neighborhood that’s popular with both families and retirees, but property prices here may be less affordable than in other areas of the city.
Other popular areas of Lakeland include Cleveland Heights, Lakeside Village, Highlands, and Eaglebrook. All of these areas offer high-quality housing and safe streets, although their appeal may vary among different demographics.
Main Activities, Attractions, And Employers In Lakeland, FL
As the city’s name might suggest, Lakeland is home to many beautiful lakes. The largest lake in Lakeland is Lake Parker, which is over 10 km in size. The city’s lakes make this a pleasant and attractive place to live, especially for those who enjoy water sports and nature.
The city itself is known for its pleasant green spaces, outdoor walking trails, and golf courses. LEGOLAND Florida is just a short drive from Lakeland, and the city is also home to the Polk Museum of Art.
Lakeland has a stable economy that’s supported largely by jobs in agriculture and phosphate mining. The majority of agriculture in Lakeland is citrus farming or cattle farming. In recent years, more jobs are opening up in other sectors including tourism, healthcare, insurance, and transportation.
