Embarking on the search for an affordable home in Lakeland, FL? With a budget up to $700k, you’ll find a variety of homes to suit your preferences. This carefully curated guide discusses homes for sale in Lakeland FL under 700k, providing an inside look at the local market, neighborhood highlights, and the features that make these homes a great investment.
North Lakeland offers a serene environment with affordable housing options, but it is classified as a minimally walkable area, requiring a car for most errands.
South Lakeland features affordable neighborhoods, quality educational facilities, and a convenient lifestyle, with the median home sold price slightly increasing from $299,250 in 2022 to $312,903 in November 2023.
Lakeland FL provides diverse housing options including new construction homes with modern features, equestrian properties for horse enthusiasts, and investment opportunities in multi-family homes near Lake Parker.
North Lakeland, known for its serene environment and affordable housing options, is a homebuyer’s paradise. Homes in this area are available at a range of price points, including:
Some options under $50,000
With its proximity to Tampa Bay, North Lakeland is an appealing choice, especially if you’re considering a move to the FL Lakeland area, including Dr Lakeland FL.
A knowledgeable partner is essential when hunting for a home. Real estate agents in Lakeland FL possess extensive local market knowledge and can help in addressing inquiries about properties, neighborhoods, and schools. They are your partners in finding the ideal home. Moreover, technology is revolutionizing the home buying process with platforms like Redfin providing comprehensive agent services and reduced fees, offering a more advantageous proposition for home buyers.
However, North Lakeland, with a Walk Score of 35, is categorized as a minimally walkable area, worth noting for potential residents. Residents will need a car for most errands, but they enjoy easy access to major highways and transportation options.
South Lakeland is another treasure trove for homebuyers looking for budget-friendly options. Here, you’ll find a range of affordable neighborhoods, quality educational facilities, and a lifestyle designed for convenience.
The following subsections will delve into these non commercial aspects.
Education is a priority for many families when choosing a home, and South Lakeland doesn’t disappoint. The Polk County School District, known for its favorable ratings, serves 116,315 students, making it a reliable educational institution for families in South Lakeland.
The district offers a variety of distinctive programs, such as magnet and choice schools, college-level courses, and career academies. With a focus on student achievement, it has achieved a graduation rate of 78.3% for the 2021-2022 school year and boasts impressive test scores. The district’s highest-rated schools include Lakeland Montessori School House, Magnolia Montessori Academy, and Lakeland Montessori Middle School, all renowned for their exceptional educational standards.
South Lakeland offers numerous lifestyle advantages, including:
A temperate winter climate
Reasonable cost of living
Absence of state income tax
A wide range of recreational activities suitable for all ages
Opportunities for professional connections
High-quality healthcare and education facilities
South Lakeland promotes a hassle-free lifestyle that appeals to retirees as well as young professionals.
Entertainment options in South Lakeland are plentiful, with venues like 2infinity Extreme Air Sports, iPanic Escape Room, Family Fun Center, and Urban Air Trampoline and Adventure Park. Dining options include The Red Top Pit Stop and Fish City Grill, while outdoor enthusiasts can explore wildlife at Safari Wilderness, relax at Bonnet Springs Park, or hike at Holloway Park.
Additionally, the average commute time in South Lakeland is approximately 21 minutes, which is favorable compared to the national average, adding to the overall convenience of living in the area.
Keeping an eye on the market trends in South Lakeland can ensure you get the best deal during a sale Lakeland event. The median home sold price in South Lakeland, FL has increased by 2.6% from the previous year, with homes selling for $312,903 in November 2023 compared to $299,250 in 2022. The median list price of homes in November 2023 was $329,000.
The average selling price of homes in South Lakeland FL is $319,000. The rise in available housing inventory is one of the primary factors affecting the current real estate market in South Lakeland, FL.
Working with a knowledgeable real estate agent can facilitate negotiation, providing guidance on strategies to secure the best deal possible.
For those considering an investment or looking for a home to accommodate an extended family, multi-family homes in the Lake Parker area are a great option. However, if you prefer a single family home, listings for these properties can be found on real estate websites such as Trulia, Point2Homes, and PropertyShark, offering a range of duplex and triplex properties.
Investing in multi-family homes in Lakeland, FL can be a profitable venture due to the region’s advantageous location, expanding economy, and engaged community. Investors can benefit from a robust rental market and several tax benefits. Prices for these homes can vary, but for reference, the median listing home price in the area is $280K.
When purchasing a multi-family home in Lake Parker, awareness of legal considerations is essential, including the necessity for thorough research, engaging a competent real estate attorney, and understanding relevant laws and regulations.
Looking for exceptional value homes near Lakeland City Center? Focal Point Properties has you covered. Known for constructing high-quality, unique, custom homes, Focal Point Properties has made a substantial impact on the city’s real estate market.
The company provides newly constructed homes for sale in the Hawthorne Ranch community near Lakeland City Center. The typical price ranges for these properties range from $309,000 to $749,000, presenting excellent value for tailor-made homes in a highly sought-after location.
New construction homes in Lakeland FL cater to those who prefer modern living, offering a plethora of benefits:
Customizable design choices
Contemporary floor plans
Reduced upkeep expenses
Enhanced health and safety features
Warranties for assurance
The contemporary design elements in these condo homes enhance the properties’ sleek and progressive aesthetic. These include:
Open floor plans
Versatile flex rooms
Other modern architectural features
For horse enthusiasts, Lakeland FL offers equestrian homes that provide a secure environment for horses and their owners. These properties offer the convenience of housing horses on one’s own premises and the chance to appreciate the natural aesthetics of the area.
Desirable locations for equestrian homes can be found on HorseProperties.net and Realtor.com, which boast numerous listings for horse properties in Lakeland Polk County. The average price for an equestrian property in Lakeland, FL is around $4,236,543, though prices can range from as high as $1,250,000 to as low as $264,998. These properties often encompass horse stables, expansive acreage for grazing, and supplementary amenities such as barns, arenas, and runways.
The homebuying process can be overwhelming for first-time homebuyers in Lakeland FL. Common errors include:
Attempting the process solo
Making impulsive decisions
Neglecting to obtain pre-approval before purchase
Failing to conduct financial research
Not thoroughly investigating the location and its surroundings
Inadequately evaluating the new home.
Typically, first-time homebuyers in Lakeland FL are interested in homes that offer government-backed home loan options with minimal or no down payment requirements. They also often seek out homebuyer counseling and assistance services offered by organizations such as HANDS of Central Florida, Inc.
The task of sifting through numerous listings can be daunting. That’s why we’ve handpicked featured listings of homes for sale in Lakeland FL under 700K. These listings can be found on various online platforms but you can see all of the homes for sale at the bottom of this page.
These listings are updated every 15 minutes to ensure up-to-date information.
The average listing price of these properties is approximately $316,490, offering a diverse range of options for prospective buyers within that price bracket. Homes are selected based on various desirability factors such as quality, location, and fitting within the specified price range.
Whether you’re a first-time homebuyer or a seasoned investor, Lakeland FL offers a multitude of affordable housing options. From the peaceful neighborhoods of North Lakeland to the bustling South Lakeland, from multi-family homes in the Lake Parker area to modern new constructions, there’s a home for everyone. Explore the featured listings, consider the tips for first-time homebuyers, and start your journey to find your dream home in Lakeland FL today!
The best place to live in Lakeland for families is in the top neighborhoods mentioned in the list. Consider factors like safety, schools, and amenities to make the right choice.
Lakeland, Florida is a good place to retire, as it is ranked among the top 20 places to retire in the U.S., with better weather year-round and affordable access to recreational opportunities and cultural attractions. Additionally, the city's crime rate is lower than the national average, providing a sense of safety for retirees.
Yes, Lakeland, Florida is an affordable city to live in, with a cost of living 13% lower than the national average and it is 17% lower than the state average, currently with a median home price of $299,281.
Yes, Lakeland, Florida is a good investment due to its relatively affordable housing market and the upward trend in median list prices, offering a solid opportunity for growth.
Some affordable neighborhoods in North Lakeland include Highland Park, Wahneta, and Greenleaf. In South Lakeland, budget-friendly options are Homeland, Hillcrest Heights, and Lakeland Highlands.