The story of this market
The typical home in ZIP 33898 sells for about $250,794, or $189 per square foot.
Prices are down 1.4% from a year ago, which gives buyers more room to negotiate. Homes take about 77 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,194 a month.
ZIP 33898 — Lake Wales
The 33898 housing market is experiencing a slight cooling trend with a year-over-year price decline of 1.4%. High inventory relative to sales volume and a significant share of older, rural-style housing contribute to a buyer-leaning market environment.
This ZIP is well-suited for retirees and those seeking a lower-density, rural-adjacent lifestyle, given the older median age and larger land area.
Median prices moved down 1.4% year over year.
Homes spend a median of 77 days on market with 6.0 months of supply — a balanced-paced market.
14% of listings have cut prices · homes sell at 97.06% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 10.7% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 33898, Polk County FL
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Florida) — Statewide Uniform Property Tax Lien Priority & Tax Deed Sale Enforcement: Unpaid real ad valorem and non-ad valorem taxes become a first-priority sovereign lien on January 1 of the tax year, superior to all mortgages and private liens. If unpaid by April 1 following the tax year, tax certificates are sold via competitive bidding under § 197.432. State (Florida) — Community Development District (CDD) Special Assessment & Financing Lien Mandate: Binds the parcel to non-ad valorem assessments levied directly by the CDD board to fund infrastructure bonds (capital assessments) and operations/maintenance (O&M assessments). State (Florida) — Florida Constitutional Homestead Exemption & Save Our Homes (SOH) Assessment Cap: Reduces taxable value by up to $50,000: base $25,000 exemption applies to all taxing authorities (including school districts); second $25,000 exemption applies to assessed value between $50,000 and $75,000 for non-school millage. State (Florida) — Florida Ad Valorem Real Property Assessment & Tax Mechanics: Parcels are assessed annually at 100% just value (market value) as of January 1 by county property appraisers. Tax formula: Tax Bill = (Taxable Value / 1,000) * Total Levied Millage Rate. Assessed Value = Just Value - Assessment Limitations.
Residents typically rely on personal vehicles for commuting, with access to regional corridors connecting to the broader Lakeland-Winter Haven employment hubs.
The area features significant rural land and access to central Florida's lake systems, providing opportunities for outdoor recreation and fishing.
The rental market shows moderate pressure with a median rent of $1,863, reflecting demand in the broader Lakeland-Winter Haven metro area.
The local economy is anchored by the broader Lakeland-Winter Haven metro area, with significant employment in agriculture, logistics, and regional services.
Transportation is primarily highway-dependent, with regional connectivity provided by state roads serving the Polk County area.
The Polk County Property Appraiser manages assessments, utilizing a mass appraisal system to determine just value for tax purposes.
Parcels are subject to Polk County ad valorem taxes, with potential for specific utility or water management district assessments.
Property insurance in this region is influenced by Florida's statewide market challenges, including hurricane risk and rising premium costs.
Data retrieved from U.S. Census Bureau ACS and DHC tables.
- Boggy Creek Airboat Adventures4.819 mi
- Westgate River Ranch Resort & Rodeo4.312.2 mi
- Bella Cosa Wedding Venue4.712.5 mi
- Camp Mack4.57.9 mi
- The Anthony DePalma Center4.419.6 mi
- Bok Tower Gardens4.814.1 mi
- Spook Hill3.913.9 mi
- Bok Tower Visitor Center4.914 mi
- The Singing Bok Tower and Carillon4.914 mi
- Mister Chris’ Coffee Gallery & Depot4.813.1 mi
- Camp Mack4.57.9 mi
- Grape Hammock Fish Camp & Airboat Rides4.89.9 mi
- The Harbor Waterfront Resort4.46.3 mi
- Lake Wales Country Club3.911.1 mi
- Indian Lake Estates Golf & Country Club4.24.9 mi
- Rural King4.512.1 mi
- Dollar General412.8 mi
- Quest Diagnostics Orange Grove Shopping Center4.212.4 mi
- Taxi Sol FL4.830.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Significant ecological area providing unique habitat and outdoor recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.