Whether you’re planning your next move or just enjoy scrolling through Zillow, NBC’s Home Buyers Index – which came out in May and is updated regularly – could help you keep a better eye on the Lakeland real estate market as it changes from month to month.
How it works
The study uses a scale of 0 to 100 to measure the difficulty of buying a home. the higher the score, the more difficult. It is measured by four factors: cost, competition, scarcity and economic instability (think: market volatility, unemployment and interest rates).
Is it real? According to NBC News, a real estate industry analyst, a banking economist at the Federal Reserve Bank of Atlanta and other experts were involved in developing the tool. Examine the methodology.
Some caveats: The index does not capture the additional difficulties certain groups face in buying a home, such as those with lower credit scores, and it cannot always capture data for more rural communities.
Polk County Rating
The Data listed below dates from June 2024, but is updated regularly — In other words, you can always come back if you’re curious. Check out Polk County’s numbers on a scale of 0 (easy) to 100 (difficult):
- Overall difficulty index | 60.1
- Cost index | 86.2
- Competitiveness Index | 26.4
- Scarcity Index | 8.7
- Index of economic instability | 91
The index also shows that a median income buyer here in Polk County can afford a home worth $328,000 – for comparison, the median list price for a home is $340,000.
Feel good about your purchase, but want to stay up to date on what it’s like to live in Lakeland? Check out our City guide for the 411.
