How much do homes cost in Lakeland, TN?

Lakeland runs on the higher end of Memphis-area suburbs, with existing homes often in the high $300,000s to $400,000s and new construction commonly reaching $500,000 to $600,000 or more depending on the community.

Lakeland, TN

New construction, real lakes.

Q: Is Lakeland, TN a good place to buy a house?

Lakeland is a fast-growing Memphis suburb known for new construction, lakes, parks, and a small-town feel with no city property tax. It suits buyers who want a newer home and are comfortable paying a premium for it relative to more established suburbs.

Lakeland is Shelby County's fastest-growing suburb — built around actual lakes, new-build neighborhoods, and no city property tax. Here's what to actually expect.

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$375K–$620KExisting vs. new construction

No City TaxFunded by TN sales tax instead

~50–68 DaysTypical time on market

7.5 MilesOf shoreline around Garner Lake

General figures as of this year — new construction skews the median up compared to older Lakeland homes. A Home Equity Audit or buyer quiz gives you numbers specific to your situation.

What makes Lakeland different

Built around water, growing fast.

Lakeland started as an amusement park around a man-made lake in the 1950s, and today it's one of the fastest-growing suburbs in Shelby County — built deliberately around Garner Lake and dozens of smaller lakes, with 124 acres of parks and integrated walking and biking paths threading through the neighborhoods.

Most of the housing stock is new or newer construction, which means higher price points than Bartlett or Cordova but a fresher aesthetic and fewer deferred-maintenance surprises. It's also one of the only Shelby County suburbs with no city property tax — municipal services run on Tennessee sales tax revenue instead.

Lakeland runs its own school system, a newer district compared to Germantown or Collierville's longer-established ones. It sits close to I-40 and TN-385, keeping the commute to Memphis proper reasonable despite the small-town feel.

Who tends to land here

Buyers who want new constructionMost of Lakeland's housing stock is newer, with fresh finishes and modern layouts.
Families who prioritize outdoor spaceLakes, parks, and trails are built into the town's identity, not an afterthought.
Move-up buyers with room to spendPrices skew higher than most Memphis suburbs, especially for new builds.
Buyers who want a small-town feel that's still growingLakeland is investing heavily in its own future rather than settling into an established pattern.

Common questions about Lakeland

Is Lakeland, TN a good place to buy a house?

Lakeland is a fast-growing suburb known for new construction, lakes, parks, and a small-town feel with no city property tax. It suits buyers wanting a newer home and comfortable with a premium price relative to more established suburbs.

Does Lakeland have property taxes?

Lakeland does not levy a city property tax, funding municipal services through Tennessee sales tax revenue instead. Residents still pay Shelby County property tax.

How much do homes cost in Lakeland?

Lakeland runs on the higher end of Memphis-area suburbs — existing homes often in the high $300,000s to $400,000s, new construction commonly $500,000 to $600,000 or more depending on the community.

Curious if Lakeland fits your plan?

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