In a recent report on CNN.com, Business 2.0 magazine ranks Lakeland, Florida as the fourth best place to invest in real estate. Lakeland is one of the ten markets that provides an ideal opportunity to invest.
Lakeland was referred to as the 'Greenfield' in that developers are converting and selling out many of those citrus groves to potential new homeowners.
Amongst one of the fastest builders in the area is Meritage Homes who plans to build more than 1300 homes in the area by next year. It is interesting to note too that many other well-known developers are moving into the area.
What are the other interest that are drawing many into this area? One of the major observation is its location to Tampa, Orlando as well as to I-4.
What does the figures looks like in this area? According to Metro region statistics, 59% projected gain in home prices within 5 years.
The median home price for 2006 was $178,000; however, for 2011 is expected to be $282,000.
Lakeland have a population as of 2006 of 551,000 and in 2011, the population is expected to be increased to 599,000.
What does the income looks like in this area? Again, in 2006 income per capita was $30,200 and by 2011 it is expected to be $39,100.