Lakeland Apartment Vacancy Remains High Despite 40% Increase in Housing Supply
Despite a massive building boom that expanded apartment inventory in the Lakeland metro area by approximately 40% over the last five years, vacancy rates remain elevated at 11.8%. This figure significantly exceeds the national average of 7.9%, with many new communities offering incentives such as two months of free rent to attract tenants. The disconnect stems from rigid credit-based screening processes that disqualify qualified renters who lack traditional credit histories or parental cosigners. To address this market inefficiency, housing access company Cosign is partnering with property managers to provide data-driven approvals and act as a corporate cosigner for eligible applicants.
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Topics: apartment vacancy rates credit scoring in housing housing access rental market
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Part of the story Lakeland Apartment Vacancy Remains High Despite 40% Increase in Housing Supply (3 articles)