Lakeland, Florida’s stabilized multifamily vacancy barely above pre-pandemic norms

Markets across the Sun Belt have contended with a historic number of completions over the past 18 months, and Lakeland, Florida, is no different. As a result, overall vacancy rates have ballooned close to all-time highs. However, when the impact of new construction or properties still in lease-up is removed, Lakeland’s stabilized properties are performing similarly to pre-pandemic years.