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Lakeland, Florida, multifamily market remains challenged by supply-demand imbalance

Recent completions weigh on vacancy and rent growth across the region
Reserve at Atlantica, a 352-unit multifamily property completed earlier this year in Lakeland, Florida. (CoStar)
Reserve at Atlantica, a 352-unit multifamily property completed earlier this year in Lakeland, Florida. (CoStar)
CoStar Analytics
July 10, 2026 | 2:36 P.M.

Lakeland’s multifamily market remains under pressure from new construction, as one of Central Florida’s smallest apartment markets continues to work through a new supply wave.

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