Lakeland, FL is a great city to live and work in. Located between Tampa and Orlando, it's only a short drive to many major cities. The cost of living in Lakeland is quite reasonable; for example, the average 2 bedroom rent is $1,240 compared to the US average of $1,430. It’s also cheaper to grocery shop in Lakeland than other areas across America; the Grocery Cost Index for Lakeland is 103 versus 100 in the US. Local companies that make up the economy of Lakeland range from large corporations such as Publix Super Markets and Florida Power & Light Company to smaller companies like C&L Air Conditioning Services and McLaughlin Sales & Service.
Lakeland has an unemployment rate of 5.6%. The US average is 6.0%.
Lakeland has seen the job market increase by 2.9% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Lakeland
- The Sales Tax Rate for Lakeland is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lakeland is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakeland
- The average income of a Lakeland resident is $22,449 a year. The US average is $28,555 a year.
- The Median household income of a Lakeland resident is $52,972 a year. The US average is $69,021 a year.