As you get older, retirement plans start to cross your mind. Part of retirement planning is determining where you want to live. While some people plan to downsize to a different house, others expand their horizons. They consider moving to a different city or state with warmer weather and perhaps a lower cost of living.
Lakeland, Florida, might be one of the places you’re considering relocating to. After all, its warmer weather and lower cost of living can be dually enticing. Plus, Lakeland has been named the number one city in Florida to retire in.
The city of Lakeland is located between Tampa and Orlando along Florida’s I-4 corridor. This location makes it an ideal commuter town for those who still want to work. Lakeland residents have the convenience of working for a major employer in town or commuting to either Tampa or Orlando.
But just like any other place, Lakeland has its pros and cons. So, is Lakeland, FL, a good place to live in? Let’s look at what you can expect if you move to this Florida location.
An Overview of Lakeland, Florida
Lakeland, Florida, has a population of just over 115,000 residents. It’s a growing city expanding at a rate of 7.8%. Lakeland isn’t as crowded as a major metro area like Tampa as far as population density goes. However, there are about 1,743 people per square mile. Think of Lakeland as a somewhat dense suburb surrounded by a few patches of land.
You’ll find many city conveniences without as much congestion as Orlando. The economy is relatively good, with modest job growth. There are plenty of major employers and well-known insurance carriers in the area, meaning a mix of white-collar and blue-collar jobs exist in Lakeland.
The cost of living in Lakeland is about 13.6% below the national average, and the median home price overs around $221,000. That said, average wages reflect the lower cost of living. Median salaries are slightly below $40,000 a year. Retail and service sectors tend to dominate the local economy.
Generally, you’ll find the weather to be spring or summer-like all year long. Average temperatures in the heat of the summer can get into the 90s and only dip down to the 70s in the fall and winter months. Once in a while, you’ll experience a “cold front,” with temperatures in the 60s or upper 50s.
