Lake Wales is a small city in Florida with slightly more than 15,000 residents. It's a nice place to settle down, as retirees make up a greater percentage of the population (21%) here than they do nationally (14%), while young adults appear in smaller numbers. Homeowners slightly outnumber renters in Lake Wales by a narrow 53%-47% margin. Renting remains an affordable option, though, as the city boasts a relatively low average rent of $854/month. Over the course of a year, renters in Lake Wales will save around $3,600 compared to the state average.
Lake Wales has a relatively high percentage of residents older than 25 with a high school degree or equivalent (22%) compared to the national average. Additionally, 8% possess a Bachelor's degree and 4% have earned a Master's degree or Doctorate. Retail is the most common industry in Lake Wales, representing 7% of the population. Meanwhile, looking at job function, 7% of residents work in sales, which ranks as the top field in the city. With an average annual income of almost $51K, Lake Wales workers earn less than the average Florida resident. The city's average income also falls below the national average of $73,345.
With an average commute time of about 25 minutes, outperforming most cities in Florida, Lake Wales residents have found that traveling to work isn't overly time-consuming. Many residents (33%) drive their own vehicle to work, while public transit isn't used widely. Walking isn't a common method of commuting to work.
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