505 W Peachtree St, Lakeland
Polk County Real Estate - Lakeland
Lakeland is in the Tampa Bay region of Florida. It's population as recorded in the 2010 Census was 97,422.
The median age for residents of Lakeland is 39.8. Around 26.6% of Lakeland households include school aged children and 34.7% of households include individuals aged 65 years or over. Census records indicate 70.8% of the Lakeland population are White, 20.8% are Black or African American, .3% American Indian, 1.8% Asian and 2.6% are Two or more Races.
There are 48,218 housing units in Lakeland. 7,460 (15.4%) of these were reported as vacant in the 2010 Census. Lakeland is a tourist destination, 28.5% (2,128) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 20,696 residential rental units in Lakeland. 17,679 of them were occupied in 2010 providing a residential rental vacancy rate of 14.1%.
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Polk County
Polk County is part of the Tampa Bay region of Florida along with Citrus, Hernando, Pasco, Pinellas, Hillsborough, Manatee, and Sarasota counties. It is located inland, to the east of Hillsborough County and Tampa. The county is the geographic center of Florida?s population. Polk County is between the two large metropolitan areas of Tampa and Orlando, which accounts for its rapid population growth rate. Despite the positive growth, unemployment rates are historically lower in Polk County than anywhere else in the state. It has a population in excess of 600,000 and 17 incorporated municipalities.
Polk County's economy revolves around the industries of phosphate mining, agriculture, and tourism. Major private sector employers are Publix Supermarkets, Wal-Mart, Lakeland Regional Medical Center, Winter Haven Hospital, and GEICO. The largest public sector employers are Polk County School Board, Polk County Government, Florida State Government, and City of Lakeland. Though the economy depends less on tourism than in other parts of the state, the building of LEGOLAND Florida in Winter Haven has increased tourism and boosted the economy.
Of all Florida counties, Polk has the 2nd most farmland in the state. Like other areas in the central part of the state, Polk has numerous citrus groves.
A mining and railroad town, Lakeland has steadily grown since its 1885 incorporation. Home to around 100,000 people, Lakeland is the headquarters for Saddle Creek Logistics and Fortune 500 supermarket chain Publix. Lakeland also hosts Florida Polytechnic University, Southeastern University, Florida Southern College, and campuses of Polk State College and Webster University.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 501 Peachtree St | Office building, non-professional service building, multi-story | 2,958 | B |
 |
| 511 W Peachtree St | Single Family | 2,140 | B |
|
| 505 W Magnolia St | Vacant Institutional Property | 0 | L | |
| 517 W Peachtree St | Single Family | 3,024 | B |
|
| 512 W Magnolia St | Multi-family - less than 10 units | 1,452 | B |
|
| 520 N Martin Luther King Jr Ave | Single Family | 0 | L | |
| 516 W Magnolia St | Single Family | 0 | L | |
| W Magnolia St | Vacant Residential | 0 | L | |
| 525 W Peachtree St | Multi-family - less than 10 units | 0 | L | |
| 505 Lake Wire Dr | Office building, non-professional service building, one story | 4,320 | B |
|
| 527 Peachtree St W | Single Family | 1,930 | B |
|
| 401 W Peachtree St | Restaurant, cafeteria | 6,711 | B |
|
| 507 W Magnolia St | Vacant Residential | 0 | L | |
| 515 W Magnolia St | Vacant Institutional Property | 0 | L | |
| 503 W Magnolia St | Vacant Institutional Property | 0 | L | |
| 450 Martin L King Jr Ave | Church | 33,044 | B |
|
| 525 W Magnolia St | Single Family | 1,586 | B |
|
| 611 Martin Luther King Jr Blvd | Vacant Residential | 0 | L | |
| 529 W Magnolia St | Vacant Institutional Property | 0 | L | |
| 611 N Texas Ave | Vacant Institutional Property | 0 | L | |
| 618 Martin Luther King Jr Ave | Church | 2,400 | C |
|
| 512 W Myrtle St | Single Family | 1,075 | B |
|
| 516 W Myrtle St | Single Family | 1,993 | B |
|
| 322 Magnolia | Vacant Residential | 0 | L |
Local Household Income
The median household income in this part of Florida is $52,750. The bottom 10% of the population earn less than $17,423 per year. The top 10% earn more than $122,920 per year. The top 1% earn more than $384,883 per year. Most renters earn between $27,024 (20th percentile) and $47,808 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $105,500 and $131,875.
The tax assessed value of this property places it in percentile 21 of all properties in this area. This suggests it would appeal to someone earning around $26,829 per year who should qualify for a mortgage between $53,658 and $67,073.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $858. Most renters earn between $2,252 and $3,984 per month. They typically spend 32% of their monthly income on rent. Most rents fall in the $630 (20th percentile) to $1,159 (80th percentile) range. The residential vacancy rate is 8%.
This property falls in percentile 21 of all properties in this area. This corresponds to a rent of $635 per month and a monthly household income of $2,276 ($27,312 per year)
Nearby Companies
609 West Magnolia St
609 West Magnolia St
609 West Magnolia St
1026 Texas Ave
450 Martin L King Jr Ave
450 Martin L King Jr Ave
450 Martin L King Jr Ave
501 W Peachtree St
601 W Martin L King Jr Blvd
450 Martin Luther King Jr Ave
450 Martin Luther King Jr Ave