At $1,709/mo, rent takes about 18% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,709 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Lakeland changed +3.6% over the year to September 2026. Across the 51 Tennessee cities Zillow tracks, the typical change was +2.0%.
Rent rose in 7 of the last 12 months.
30% of the median household income ($116,250) is $2,906 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,500); a 4-bedroom is $2,930.
Millington, 15 miles away, rents for 10% less ($1,533/mo), about $2,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Lakeland. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Lakeland, TN is majority owner-occupied, has a large share of families with children, has a median income above the national average, 53.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lakeland, TN has changed in 5 years
Median household income rose from $102,025 to $116,250 between 2021 and 2024, a 13.9% shift. The population has grown by 3.6% since 2021, moving from about 13,693 residents to roughly 14,192. Renters now make up 20.8% of households, compared with 16.1% five years ago. College-educated residents now make up 53.1% of adults here, versus 47.8% in 2021.
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Can you afford rent in Lakeland on your salary?
At $1,709/mo, how Lakeland rent compares to typical pay (30% rule).
Lakeland rent by bedroom count
Median rent for each apartment size in Lakeland. Click any size for full breakdown.
Tips for renters in Lakeland
Last updated: October 17, 2026
The median rent in Lakeland is $1,709/mo as of October 2026. A studio apartment averages $1,550/mo while a 2-bedroom runs $1,900/mo. One-bedroom apartments average $1,690/mo and 3-bedroom units go for $2,500/mo.
At 18% of local median household income ($116,250/yr), Lakeland ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.6% over the past year.
Frequently asked questions
How much income do you need to rent in Lakeland?
Is rent going up or down in Lakeland?
How does Lakeland rent compare to other cities in Tennessee?
Which nearby cities are cheaper to rent in than Lakeland?
At $1,709/mo, rent takes ~18% of Lakeland's median household income ($116,250/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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