Students visit a Lakeland Regional Health table at a college and career fair hosted by CareerSource Polk, Polk County Public Schools and the Greater Bartow Chamber of Commerce on Thursday, Feb. 20, 2025. | CareerSource Polk
2-minute read

For generations, conventional wisdom has held that households should spend no more than 30% of their income on housing. Mortgage lenders use it as a qualification ratio and landlords often require proof that applicants earn triple the monthly rent. 

But for many Lakeland renters, staying under 30% is nearly impossible, especially young people entering the housing market for the first time.

Also read our companion article

Squeezed: Fewer Than Half of Lakeland Renters Can Afford Their Housing

Often, one income isn’t enough

The median gross rent for a two-bedroom home in Lakeland was $1,399 in 2023, according to the most recent figures from the U.S. Census Bureau. That figure includes all types of housing.

The reality at local apartment complexes is often substantially higher.

For $1,399 to be 30% of a renter’s income, they would have to earn at least $26.90 an hour or $55,960 a year. Many local jobs pay less than that. 

The graphic shows a range of typical wages in Lakeland based on job postings by major employers, 2025 data from ZipRecruiter and 2023 data from the U.S. Bureau of Labor Statistics. | Cindy Glover, LkldNow

Rents have risen faster than wages

Lakeland’s rental market cooled slightly in 2024, with indexes showing a modest 2.27% increase in average rents over 2023. But the two preceding years had increases of 14.02% and 9.36% respectively, according to census data.

Increasing housing costs have put financial stress on many local renters whose wages haven’t kept up.

Some have sacrificed other types of spending, taken on roommates or moved back in with parents. In extreme cases, renters have faced eviction and become homeless.

“The biggest population [of homeless individuals] that we’re seeing grow — and it’s really sad — is the elderly. Because their incomes are not going up, but the rent is,” said Bridget Engleman, executive director of the Homeless Coalition of Polk County.

In Florida, there is no legal limit or cap on how much landlords can raise rent each year, as long as they give reasonable notice and wait until the end of the lease term.

How to get help

If you are sleeping outside, staying in your car, living in a motel, facing eviction or “doubled up” with family or friends, the Homeless Coalition of Polk County might be able to help.

Insight Polk examines community conditions and solutions in six target areas from UCIndicators.org: economic & employment opportunity, education, housing, food security, transportation & infrastructure, and quality of life.

LkldNow’s Insight Polk independent reporting is made possible by the United Community Indicators Project with funding by GiveWell Community Foundation & United Way of Central Florida. All editorial decisions are made by LkldNow.

SEND CORRECTIONS, questions, feedback or news tips: newstips@lkldnow.com

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Cindy's reporting for LkldNow focuses on Lakeland city government. Previously, she was a crime reporter, City Hall reporter and chief political writer for newspapers including the Albuquerque Journal and South Florida Sun-Sentinel. She spent a year as a community engagement coordinator for the City of Lakeland before joining LkldNow in 2023. Reach her at cindy@lkldnow.com or 561-212-3429.

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