City of LakelandD E M O G R A P H I C G U I D E 2 0 12

POPULATION • WORKFORCE DEVELOPMENT • INDUSTRY SECTORS

MAJOR EMPLOYERS • WAGES & INCOME • TAXES • EDUCATION • HOUSING

ECONOMIC INCENTIVES & REDEVELOPMENT • CONSTRUCTION & DEVELOPMENT

Community Development

Built upon historic character, philanthropy and volunteerism, Lakeland offers its

residents, businesses and visitors a true sense of place. Incorporated in 1885, Lakeland

quickly became one of the premier cities in Florida. From the inaugural railroad service

in the mid-1890's to being one of the first cities in Florida to have electricity, Lakeland

has always been a hub of innovation and progressive ideas. Today, the City continues to

thrive as population and business expansions are attracted to this area, the geographic

center of Florida. Lakeland’s economic base consists of warehouse, transportation and

distribution, education, health care, manufacturing and retail.

Lakeland has received the distinction of being on Money Magazine’s “Best Place to Live

in America” list. In addition, Lakeland is home to Publix Supermarkets, Florida Southern

College, which hosts the largest one-site collection of Frank Lloyd Wright architecture,

and is the winter home to the Detroit Tigers.

The City of Lakeland offers an exceptional quality of life. A firm commitment to down-

town development, redevelopment, historic preservation, cultural amenities, and a

exceptional business-friendly environment has helped Lakeland to thrive for 125 years.

Growth and progress exemplify our City all the while maintaining a sense of history and

a hometown feel.

Lakeland is a great place to do business and a wonderful place to live, work and raise a family.

Over 8.6 million people within a 100-mile radius

32 miles from Tampa

54 miles from Orlando

Midway between Key West and the Georgia state line

Two International airports within an hour's drive

Located on Interstate 4 in the middle of Florida's

High Tech Corridor.

Located in Polk County, the eighth largest County

in the state.

Polk County boasts over 550 lakes and 90 minute

drives to beaches on both coasts.

The Central Florida Development Council estimates

that 1.5 million tourists visit Polk County

each year.

LAKELAND,FL

Table of ContentsEconomic & Demographic Snapshot............................................................................................................. 4

Population .............................................................................................................................................................. 5 Workforce Development .................................................................................................................................. 7 Industry Sectors.................................................................................................................................................... 8 Major Employers................................................................................................................................................... 9 Wages & Income.................................................................................................................................................10 Taxes ...................................................................................................................................................................... 11

Education.............................................................................................................................................................. 13 Economic Incentives and Redevelopment .............................................................................................. 14

Housing ................................................................................................................................................................ 16

Construction and Development................................................................................................................... 17

LAKELANDCNNMoney.com Ranked Lakeland 9th on

their list of Top 10 Turnaround towns for 2012.

2

Economic & Demographic SnapshotPOPULATION Source City of Lakeland Population (2011) 97,690 BEBR

Lakeland Electric Service Area (2011) 254,283 Lakeland Electric

Polk County Population (2011) 604,792 BEBR

State of Florida Population (2011) 18,905,048 BEBR

CITY OF LAKELAND Source Total Number of Households (2011 Est.) 38,248 Claritas

Average Household Income (2011 Est.) $51,760 Claritas

Median Household Income (2011 Est.) $38,430 Claritas

Lakeland Per Capita Buying Income (2011 Est.) $21,973 Claritas

Lakeland Labor Force (2011) 42,958 AWI

Employed (2011) 38,199 AWI

Unemployed (2011) 4,759 AWI

Lakeland Unemployment (2011) 11.10% AWI

Lakeland Private Employment (2011) 37,483 BLS

Average Home Sales Price (2011) $106,090 Mid Florida Regional MLS

Single Family Permits (2011) 115 City of Lakeland

Multi-Family Permits (2011) 6 City of Lakeland

Warehouse/Industrial Square Feet Permitted (2011) 890,718 City of Lakeland

Commercial Square Feet Permitted (2011) 11,522 City of Lakeland

Retail Square Feet Permitted (2011) 50,031 City of Lakeland

Sources:University of Florida Bureau of Economic & Business Research (BEBR)

Bureau of Labor & Statistics (BLS)

Claritas Market Place 2011

Lakeland Economic Development Council (LEDC)

Mid Florida Regional MLS

Florida Agency for Workforce Innovation (AWI)

City of Lakeland Historical Size and Population

Year Population Size in Square Miles

1960 41,350 16.78

1970 42,803 17.17

1980 47,406 20.59

1990 70,576 44.23

1995 74,626 50.55

2000 78,452 51.91

2001 82,942 54.15

2002 87,150 67.54

2003 88,741 67.60

2004 89,731 69.94

2005 90,851 71.38

2006 91,623 72.17

2007 93,428 73.41

2008 93,508 74.33

2009 94,163 74.40

2010 97,422 74.48

2011 97,690 74.62

3photo credit: Tom Hagerty

4

Population

1990 Population by Age 2000 Population by Age

2010 Population by SexMale 46.90%

Female 53.10%

2010 Population by Race White or Caucasian 70.80%

Black or African American 20.95%Hispanic or Latino 12.60%

Other 3.40%

Two or more races 2.70%

Asian 1.80%

Native American .30%

Sources: U.S. Census Bureau

City of Lakeland Year Population Sq. Miles

1995 74,626 50.55

2000 78,452 51.91

2001 82,942 54.15

2002 87,150 67.54

2003 88,741 67.60

2004 89,731 69.94

2005 90,851 71.38

2006 91,623 72.17

2007 93,428 73.41

2008 93,508 74.33

2009 94,163 74.40

2010 97,422 74.48

2011 97,690 74.62

Polk County & Florida Year Polk County Florida

1995 443,153 14,336,202

2000 483,924 15,982,378

2001 496,112 16,331,739

2002 502,385 16,674,608

2003 511,929 17,071,508

2004 528,389 17,561,732

2005 535,800 17,918,227

2006 564,868 18,349,132

2007 581,058 18,680,367

2008 585,733 18,807,219

2009 584,383 18,748,925

2010 602,095 18,801,310

2011 604,792 18,905,048

Source: U.S. Census Bureau

0 2000 4000 6000 8000

10000 12000 14000 16000

Under 5 5 to 14 15 to 24 25 to 34 35 to 44 45 to 54 55 to 64 65 to 74 75 to 84 85+

2010 Population by Age

Lakeland has seen an 85% increasein the population of residents aged

45-54 from 1990 to 2010

5

Metropolitan Statistical Area Population

Metro and Non-Metro Population, 2010

City Population

Florida’s Top 25Incorporated, 2010

Source: University of Florida Bureau of Economic

and Business Research, Florida

Miami/Ft Lauderdale/Miami Beach 5,564,635

Tampa/St. Petersburg/Clearwater 2,783,243

Orlando/Kissimmee 2,134,411

Jacksonville 1,345,596

Sarasota/Bradenton/Venice Beach 702,281

Cape Coral/Fort Myers 618,754

Lakeland 602,095

Melbourne/Titusville/Palm Bay 543,376

Daytona Beach/Ormond Beach 494,593

Pensacola 448,991

Fort Pierce/Port St. Lucie 427,107

Tallahassee 367,431

Ocala 331,298

Naples/Marco Island 321,520

Gainesville 264,275

Fort Walton Beach 180,822

Panama City 168,852

Punta Gorda 159,978

Sebastian/Vero Beach 138,028

Palm Coast 95,696

Total All MSA’s 17,692,982

Total Non-Metro 1,108,328

Total Florida 18,801,310

Population

Jacksonville 821,784

Miami 399,457

Tampa 335,709

St. Petersburg 244,769

Orlando 238,300

Hialeah 224,669

Tallahassee 181,376

Ft. Lauderdale 165,521

Port St. Lucie 164,603

Pembroke Pines 154,750

Cape Coral 154,305

Hollywood 140,768

Gainesville 124,354

Miramar 122,041

Coral Springs 121,096

Clearwater 107,685

Miami Gardens 107,167

Brandon 103,483

Palm Bay 103,190

West Palm Beach 99,919

Pompano Beach 99,845

Spring Hill 98,621

Lakeland 97,422

Davie 91,992

Miami Beach 87,779

Source: United States Census 2010

5

Workforce DevelopmentGRAPHSNEEDED

Workforce Development Lakeland

Recent Job Growth 0.14%

10-Year Job Growth 29.38%

Unemployment Rate 11.10%

Sales Taxes 7.00%

Income Taxes 0.00%

Median Household Income $38,430

Per Capita Buying Income $23,685

Lakeland's AverageAnnual Unemployment Rate

2011 Lakeland UnemploymentBy Month

Economic Development Activity 1995-2011

Year Projects Jobs Square Feet Est.Capital Investment

1995 32 602 1,290,400 $ 36,770,000

1996 25 690 1,057,100 $ 63,350,000

1997 18 730 1,110,000 $ 20,900,000

1998 22 1,093 1,552,500 $ 94,075,000

1999 20 3,295 1,676,000 $ 79,250,000

2000 25 533 1,861,000 $109,700,000

2001 27 1,705 1,692,450 $ 75,400,000

2002 23 1,505 1,431,517 $ 38,260,850

2003 20 768 770,968 $ 15,364,555

2004 26 1,300 1,269,673 $ 33,805,000

2005 23 1,110 1,640,489 $ 29,932,600

2006 30 609 1,309,512 $ 38,115,337

2007 29 734 1,057,892 $ 44,083,425

2008 16 1,247 1,827,878 $ 180,350,000

2009 14 1,468 434,006 $ 70,671,672

2010 20 401 691,833 $ 35,714,000

2011 15 212 613,220 $ 13,007,000

Source: Lakeland Economic Development Council (LEDC)

“Where The Jobs Will Be in 2012”In December of 2011 Forbes listed the Lakeland MSA as having the best job outlook in the nation for 2012.

The national employment survey completed by the Manpower Group, states that 17%of Lakeland employers plan to add employees in the 1st quarter of 2012.

Lakeland Annual Labor Force

!36000

38000

40000

42000

44000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

3.0%4.0%5.0%6.0%7.0%8.0%9.0%

10.0%11.0%12.0%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

9.5%10.5%10.5%11.0%11.5%12.0%12.5%13.0%

J F M A ,M J J A S O N D

Industry Sectors

Industry Sector Comparison

Lakeland MSA – Total Nonagricultural Employment (December 2011)

Goods Producing 23,800 12.3%Construction, Mining & Natural Resources 9,900 5.1%Manufacturing 13,900 7.2%

Service Providing 169,600 87.7%Wholesale Trade 8,400 4.3%Retail Trade 25,600 13.2%Transportation, Warehousing & Utilities 11,800 6.1%Information 1,700 0.9%Financial Activities 10,700 5.5%Professional & Business Services 28,000 14.5%Education & Health Services 29,400 15.2%Leisure & Hospitality 16,800 8.7%Other Services 8,000 4.1%Government 29,200 15.1% Source: Florida Agency for Workforce Innovation

5% 7% 4%

13%

6%

1% 6%

15%

15%

9%

4% 15%

0

5000

10000

15000

20000

25000

30000

35000

1 2 3 4 5 6 7 8 9 10 11 12

1990 Industry Sector 2011 Industry Sector

1. Construction, Mining & Natural Resources 2. Manufacturing 3. Wholesale Trade 4. Retail Trade 5. Transportation Warehouse & Utilities 6. Information

7. Financial Activities 8. Prof. & Business Services 9. Education & Health Services 10. Leisure & Hospitality 11. Other Services12. Government

Employment opportunities within Lakeland’s Education and Health Servicesand Professional Business industries have nearly doubled over the past 20 years.

Major Employers

8

Employer Business Number of JobsPublix Super Markets, Inc Supermarkets (stores & warehouse) 6,644Lakeland Regional Medical Center Hospital 4,540GEICO Insurance 1,850Watson Clinic Medical Clinic 1,500GC Services Teleservices 1,000Rooms To Go Furniture Distributor 900Liberty Mutual Insurance 654Saddle Creek Corporation Trucking & Logistics 625Stryker Sustainability Solutions Healthcare 600Sykes Teleservices 500 Manufacturing Publix Super Markets, Inc. Deli, Dairy & Bakery 1,419Key Safety Systems Air Bag Manufacturing 580McDonald Construction Corp. Construction 400Country Hearth Bread Bakery 340Pepperidge Farm Bakery 313The Ledger Publishing Company Newspaper 284Tampa Maid Foods Shrimp Processing 260Carpenter Company Insulation 235JBT Corporation Processing Machinery 190Keymark Aluminum Extrusions 175 Government City of Lakeland Government 2,600

Headquartered in Lakeland, Publix Supermarkets is adding to their 3 million square feet of manufacturing

and warehouse space with the construction of this 562,000 square foot expansion of their County Line Road

“low velocity” warehouse.

Wages & Income

9

Industry Annual Wage

Private Industry $37,921

Public Administration $41,406

Agriculture, Forestry & Fishing $22,044

Construction $40,016

Manufacturing $39,400

Wholesale Trade $43,891

Retail Trade $28,160

Transportation & Warehousing $38,610

Utilities $51,370

Information $38,167

Finance & Insurance $44,191

Real Estate & Rental Leasing $35,263

Professional, Scientific Services $55,853

Management of Enterprises $53,599

Administration & Waste Services $34,203

Educational Services $36,412

Healthcare & Social Services $42,781

Arts & Entertainment & Recreation $28,684

Accommodations & Food Services $20,156

Other Services $34,545

Source: Florida Research & Economic Database 2011

2001 $28,890

2002 $29,505

2003 $30,277

2004 $31,387

2005 $31,928

2006 $33,592

2007 $35,568

2008 $36,920

2009 $37,356

2010 $37,939

2011 $37,185

Year Lakeland Florida

2001 $24,898 $29,804

2002 $25,106 $30,462

2003 $26,004 $31,242

2004 $27,965 $33,463

2005 $29,833 $35,498

2006 $31,090 $37,996

2007 $31,838 $39,256

2008 $32,433 $39,958

2009 $31,511 $37,387

2010 $31,998 $38,222

Per Capita Income

Source: Bureau of Economic Analysis(BEA) Per Capita Income by MSA

Source: Florida Research & Economic Database

20,000

25,000

30,000

35,000

40,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Average Annual Wage

The Tampa Bay Business Journalreported in December of 2011 that the

average annual compensation for high skill jobs in the Lakeland MSA had

risen to $46,318, marking a 1% from the previous year.

Tax Information

10

General Information The tax laws in Florida are advantageous both to industry and to individuals. There is no state personal income tax, no state ad valorem tax on real or tangible personal property, no inventory tax and no inheritance tax. This is indica-tive of Florida’s favorable tax climate – which is lower than most other southeastern states.

Ad valorem rates in Lakeland and Polk County compare favorably with taxes in any other section of the United States. The City of Lakeland has one of the lowest operating millages in the state at 4.1644.

State Sales Tax Florida has a 6% state sales tax. Exemptions include food and drugs, machinery and equipment for new businesses, and research and development equipment manufactured and used by a firm doing the research and development. Lakeland/Polk County has an additional 1% local sales tax as of January 2005.

Corporate Income TaxFlorida corporate income tax liability is computed using federal taxable income, modified by certain Florida adjustments, to determine adjusted federal income. A corporation doing business within Florida may apportion its total income. Adjusted federal income is apportioned to Florida using a three-factor formula. The formula is a weighted average, designating 25 percent each to factors for property and payroll, and 50 percent to sales. Non-business income allocated to Florida is added to the Florida portion of adjusted federal income. An exemption of up to $5,000 is subtracted to arrive at Florida net income. Tax is computed by multiplying Florida net income by 5.5 percent.

Communications TaxBusinesses providing communications services are required to register to collect and remit communications services tax. Communications services include telecommunications, cable, direct-to-home satellite, and related services. This definition encompasses voice, data, audio, video, or any other information or signals, including cable services that are transmitted by any medium.

Homestead Exemption On January 29, 2008 Florida voters approved an amendment to the Constitution allowing for a statewide reform of Florida’s existing Homestead Exemption criteria. This reform, designed by the Florida Legislature to provide property tax relief to homestead-exempted homeowners, owners of second homes, rental property owners and business owners provides four significant changes to the previous exemption.

Expanded Homestead Exemption: Increase the current $25,000 Homestead Exemption by an additional $25,000 except on school board taxes.

Portability: Allows Homeowners to transfer up to $500,000 of their Save Our Homes Assessment Limitation benefit to the new homestead.

Cap on Non-Homestead Property: The assessed value for all other properties without a homestead exemption will be limited to a maximum of 10% a year.

Tangible Personal Property Exemption: Businesses will be eligible for a $25,000 exemption on equipment such as computers, office furniture and fixtures.

In 2012 the tax Foundation ranked Florida as 5th best state on their annual State Business Tax Climate Index.

Tax Information

11

Statewide 2011Operating Millage Rate

Polk County 6.8665

School Board 7.67

*Parks MSTU 0.4219

*Library MSTU 0.2109

Auburndale 3.8393

Bartow 3.9962

Davenport 6.99

Dundee 7.6495

Eagle Lake 7.6516

Fort Meade 3.3509

Frostproof 7.8209

Haines City 6.99

Highland Park 9.9759

Hillcrest Heights 0.31

Lake Alfred 6.99

Lake Hamilton 7.593

Lakeland 4.1644

Lake Wales 7.9998

Mulberry 8.9

Polk City 8.6547

Winter Haven 5.79

* MSTU’s are paid by all residentialtaxpayers of unincorporated Polk County

County Wide 2011Millage Rates

Bradenton 5.2002

Clearwater 5.155

Daytona Beach 6.2598

Ft. Myers 8.4

Ft. Lauderdale 4.1193

Gainesville 4.2544

Hollywood 7.4479

Kissimmee 4.6253

Lakeland 4.1644

Miami 7.571

Orlando 5.65

Pensacola 4.2895

Plant City 4.7157

Sarasota 2.9249

St. Petersburg 5.9125

Tallahassee 3.7

Tampa 5.7326

West Palm Beach 8.0739

Winter Haven 5.79

Tax Summary Corporate Income Tax 5.50%

Sales Tax 6.00%

Local Option Sales Tax 1.00%

Gross Receipt Tax 2.37%

Unemployment Tax (varies) 2.70%

Communication Services Tax 7.03%

Intangible Tax - 1 mill per $1000 of assessed valuation

Education

12

Public School Graduation Rates

School 2011/10 2010/09 2009/08 2007/08 2007/06 2006/05 2005/04Harrison 100.00% 100.00% 100.00% 100.00% 98.50% 100.00% 100.00%Lakeland 87.50% 87.27% 84.50% 88.70% 82.00% 81.60% 89.80%George Jenkins 87.50% 90.63% 86.20% 87.70% 90.80% 88.80% 88.40%McKeel Academy 95.10% 93.26% 96.20% 100.00% 97.20% 99.00% 93.30%Lake Gibson 79.20% 86.40% 82.30% 83.90% 71.60% 82.40% 81.50%Kathleen 69.50% 72.51% 70.00% 71.70% 75.10% 76.80% 71.10%PCC Collegiate 98.20% 96.85% 98.80% 97.60% 98.00% 100.00% 98.00%Tenoroc 71.60% 73.90% N/A N/A N/A N/A N/ALakeland MSA 83.87% 86.38% 82.70% 86.00% 83.17% 85.50% 84.90%Polk County 73.90% 73.24% 71.60% 73.60% 68.80% 70.50% 71.60%Florida 80.10% 79.00% 78.60% 75.40% 71.00% 71.90% 71.60%

Educational Attainment in Lakeland Population Age 25 + (Polk County) Total # % High school graduate 21,119 33.9Some college, no degree 12,708 20.4Associates degree 5,108 8.2Bachelor’s degree 9,095 14.6Graduate degree 4,859 7.8

Public/Private Colleges and Universities Southeastern University Florida Southern College University of South Florida Webster University Polk State College Proprietary Colleges and Universities Everest University (formerly FMU) Keiser University Trade and Technical Schools Florida Career Institute Travis Technical Center

Estimated Enrollment3,0692,4294,229

20011,336

8451200

1551,200

Florida Southern College was ranked as one of America’s Most Beautiful CollegeCampuses by Forbes in September of 2011.

Florida Southern College and Southeastern University were ranked #2 and #47respectfully in the 2012 U.S. News and World Report regional ranking

for Colleges in the South.

Economic Incentives and Redevelopment

13

Additional Economic Development Incentives

Qualified Industry Tax Refund Program (QTI)Quick Response Training Program (QRT)Economic Development Transportation Fund (Road Fund)Economic Development Impact Fee Mitigation (EDIFM) Incumbent Worker Training Program (IWT)Urban Job Tax Credit

Florida’s Enterprise Zone Program was created to provide the necessary means to assist local communities, their residents, and the private sector in creating greater economic activity in distressed areas and to provide jobs for residents of such areas. An Enterprise Zone is a specific geographic area targeted for economic revitaliza-tion. Designed to encourage economic growth and investments in the City’s urban core, the program offers tax advantages and incentives to businesses and property owners located within the Enterprise Zone.

Financial Incentives offered in Lakeland’s Enterprise Zone

Enterprise Zone Jobs Tax Credit (Corporate Income Tax) Allows a business located within the Enterprise Zone to take a corporate income tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

Enterprise Zone Jobs Tax Credit (Sales and Use Tax) Allows a business located within the Enterprise Zone to take a sales and use tax credit for 20 percent of wages paid to new employees who reside within the Enterprise Zone. A business must create at least one new job to be eligible.

Enterprise Zone Property Tax Credit (Corporate Income Tax) New or expanded businesses located within the Enterprise Zone are allowed a credit against Florida corporate income tax equal to 96% of ad valorem taxes paid on the new or improved property.

Sales Tax Refund for Building Materials A refund is available for sales taxes paid on the purchase of building materials used to rehabilitate real property located in the Enterprise Zone. Both businesses and residents are eligible for this incentive that refunds up to $5,000 of the sales tax paid for building materials. Limit one refund per parcel of property.

Sales Tax Refund for Business Machinery and Equipment A refund is available for sales taxes paid on the purchase of certain business property, which is used exclusively in the Enterprise Zone for at least 3 years. This incentive refunds up to $5,000 of the sales tax paid for purchases of at least $5,000 for machinery and equipment used in the Enterprise Zone.

Community Contributions Tax Credit Program Allows businesses a 50% credit on Florida corporate income tax, insurance premium tax, or sales tax refund for donations made to local community development projects. Businesses are not required to be located in the Enterprise Zone to be eligible for this credit.

For more detailed information about these incentives visit the City’s website at www.lakelandgov.net or Enterprise Florida at www.floridaenterprisezones.com.

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Redevelopment and Economic Incentives

14

Lakeland Community Redevelopment AgencyThe City of Lakeland is on a course of constant change and improvement. Many of the major changes occurring within the “core” of our city are as a direct result of activities of the Lakeland Community Redevelopment Agency (CRA). The CRA works in concert with the City of Lakeland to rebuild and revitalize many of our more challenged neighborhoods. The goal of the CRA is to continue to build and strengthen the heart of our city by providing the appropriate infrastructure and incentives for new and renewed property investment.

OverviewThe City of Lakeland has four CRA target areas, or CRA districts. They are Downtown which was established in 1977, Dixieland and Mid Town which were created in 2001, and Williams which was created in 2002. Each of these areas are dependent taxing districts established by the local government for the purpose of carrying out redevelopment activities that include reducing or eliminating blight, improving the tax base, and encouraging public and private investments in the CRA.

OrganizationThe City Commission is the official Community Redevelopment Agency for Lakeland and each specific redevelopment area operates under the leadership of an Advisory Board.

Projects and FundingCRA projects must serve a public purpose and must address concerns raised in the adopted redevelopment plans for each area. Possible CRA programs include street and streetscape improvements, park improvements, develop-ment of infill housing, recruitment of new businesses and partnership with job-training and placement services.

CRA projects are funded by "tax increment financing"which works as follows: the value of real property in a redevelopment area is deter-mined on a fixed date; as the value of the real property appreciates, the tax revenue on the appreciated portion of the value (the incre-ment) is set aside for CRA projects; the City and County continue to collect the tax revenue on the original real property value. Most programs are designed to leverage tax increment by encouraging private developers to invest in CRA districts.

Mid Town Downtown Dixieland

Please visit www.ldda.org and www.lakelandcra.net for additional information.

CR 582 (GRIFFIN RD)

SLEEPY HILL RD

US 98

LAKE PARKER

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Housing

15

Housing in Lakeland

Housing Sales In Lakeland

Housing Prices in Lakeland

Existing Home Sales in Lakeland

Year Units Sold Average Price

2001 2,561 $104,546

2002 2,629 $108,306

2003 2,883 $119,162

2004 2,938 $133,440

2005 3,676 $175,224

2006 3,371 $196,290

2007 2,233 $192,842

2008 1,857 $160,372

2009 2,357 $126,568

2010 2,421 $115,075

2011 2,456 $106,090

Source: Mid Florida Regional MLS

Ranked #1 Hot Spot for Global Homebuyers by

Inman News.comin 2012

Median Home Age 34 Years

Average Sale Price $106,090

Home Appreciation -12.16%

Home Ownership Rate 47.46%

Renter Occupied 39.77%

Vacancy Rate 12.77%

Average Monthly Rent $798

Millage Rate 4.1644

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Average Annual Sales Price

0500

1000150020002500300035004000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

16

Construction & Development

Single Family Permits

Year Permits Permit Valuation

2001 183 $ 21,043,478

2002 220 $ 28,611,809

2003 257 $ 34,200,806

2004 380 $ 49,241,780

2005 544 $179,996,957

2006 544 $ 99,101,767

2007 458 $107,385,621

2008 252 $ 55,438,488

2009 144 $ 29,771,733

2010 142 $ 30,467,000

2011 115 $ 25,139,223

Residential Construction Units

Year Warehouse/Industrial Commercial Office Commercial Retail2002 508,656 84,393 184,0942003 139,373 113,486 155,6072004 1,537,656 122,057 543,7172005 456,816 81,231 447,5962006 1,047,852 190,472 443,8462007 926,792 92,825 324,0512008 24,446 103,447 97,5572009 76,000 101,517 3,2152010 103,482 81,857 18,0462011 890,718 11,522 50,031

Commercial/Industrial Square Foot Permitted

Total Permit Valuation

0 200 400 600 800

1000 1200 1400

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Single Family Multi-Family

$0 $100,000,000 $200,000,000 $300,000,000 $400,000,000 $500,000,000 $600,000,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

In November of 2011 Realtor.com listed Lakeland as 7th on their national list of cities that are leading towards a general real estate recovery and

a stabilization of the housing sector.