Cost of Living: Lakeland, FL vs Memphis, TN
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lakeland | Memphis |
|---|---|---|
| Housing Index | Data is updating | 87.5 |
| Median Home Price | $289,000 | $185,000 |
| Average Rent (2 BR Apartment) | $Data is updating | $1200 |
| Average Rent (2 BR House) | $Data is updating | $1256 |
Housing Comparison: Lakeland vs Memphis
- In Lakeland, the median home price is higher at $289,000, while in Memphis it is $185,000.
- The rent for a two-bedroom apartment is equal in both Lakeland and Memphis at $0.0.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Lakeland | Memphis |
|---|---|---|
| Electricity Price | $13.89 | $12.57 |
| Natural Gas Price | $26.13 | $12.35 |
| Other Utilities | $Data is updating | $200 |
Utilities Comparison: Lakeland vs Memphis
- Electricity costs are higher in Lakeland at $13.89 per kWh, compared to $12.57 in Memphis.
- Natural gas is more expensive in Lakeland at $26.13 per unit, while it is cheaper at $12.35 in Memphis.
- Utility expenses are equal in both Lakeland and Memphis averaging $0.0.