Lake Wales, Florida Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lake Wales, Florida rental market.
Lake Wales, Florida
Average Apartment Rent
$1,432
Y-o-Y Change in Average
Apartment Rent
1.1%
As of May 2026
Compared to a year ago, Lake Wales, Florida apartments have recorded a 1.1% rent increase.
Lake Wales, Florida Average apartment rent trend
Lake Wales, Florida Average Apartment Rent
Lake Wales, Florida Apartment rent ranges
At 61.14%, apartments priced $1,000 - $1,500 represent the bulk of Lake Wales, Florida rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 0.08%.
Lake Wales, Florida Housing tenure**
Renters take up 40% of Lake Wales, Florida real estate, occupying a total of 2,710 units, while homeowners live in 4,024 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$30,511
Average household size of renter-occupied housing units**
2.27
Rental vacancy rate**
3%
Lake Wales, Florida Renter-occupied housing units by no. of bedrooms**
There are 1,111 rentals in Lake Wales, Florida with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 18 units. Overall, the median number of rooms in Lake Wales, Florida homes for rent is 4.3.
Lake Wales, Florida Renter-occupied units by age of householder**
Most condos for rent in Lake Wales, Florida are occupied by residents in the 35 - 44 years age group (25%), followed by those in the 65 - 74 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Lake Wales, Florida Renter-occupied housing units by family type**
Lake Wales, Florida Renter-occupied housing units by the presence of own children**
A total of 1,399 apartments for rent in Lake Wales, Florida, or 52% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 942 units. All in all, the median size of a renter-occupied household in Lake Wales, Florida is 2.27.
Lake Wales, Florida Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 22% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in Lake Wales, Florida.
Lake Wales, Florida Renter-occupied units by year structure built**
The highest share of Lake Wales, Florida apartment rentals, namely 21% or 559 units, were Built 1990 - 1999, followed by those Built 1970 - 1979 (20%, 550 units), and the ones Built 2000 - 2009 (15%, 413 units).
Lake Wales, Florida Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Lake Wales, Florida renters (40%) moved in 2010 to 2017, while only 3% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lake Wales, Florida condos for rent is 2018.
Lake Wales, Florida Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Lake Wales, Florida renters have 1 vehicle available per household, 17% of them have No vehicle available, and 16% have 2 vehicles available.
Lake Wales, Florida Means of transportation to work of householders living in renter-occupied housing units**
Lake Wales, Florida Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lake Wales, Florida apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
