Stuck between coastal Tampa Bay and Orlando. Polk County is seeing massive growth. The cost of housing and explosive growth of the two metroplexes puts Polk County in a unique situation. The Lakeland / Winter Haven Metroplex is within commuting range of both Cities. Housing and a Diverse Economic base of manufacturing, education (4 universities), agriculture, and distribution and located in close proximity to the main road arteries that connect all of Florida it is going to grow massively.
Polk County, Florida is the 9th most populous county in Florida and the 2nd fastest-growing metro area in the United States. The county’s population is projected to grow by 35,197 jobs over the next 10 years, with the fastest growing sector being Health Care and Social Assistance.
The demographics of Polk County are as follows:
- White: 56.0%
- Hispanic: 24.9%
- Black: 14.5%
- Other: 4.6%
The median household income in Polk County is $50,584 and the median house value is $150,800. The unemployment rate in Polk County is 2.9%, which is lower than the national rate of 3.4%.
The economic outlook for Polk County is positive. The county is home to a number of industries, including agriculture, manufacturing, tourism, and healthcare. The county is also home to a number of colleges and universities, which provides a strong workforce for businesses.
Some of the challenges facing Polk County include:
- The county’s population is growing rapidly, which puts a strain on infrastructure and resources.
- The county’s economy is somewhat reliant on tourism, with Disney located in its east quarter.
- The county’s workforce is not as well-educated as some other counties in Florida. But it has 5 Universities (Southeaster, Florida Polytech, Florida Southern, and Weber)
Overall, the demographics and economic outlook of Polk County are positive. The county is growing rapidly and has a strong economy. However, the county faces some challenges, such as a growing population and a workforce that is not as well-educated as some other counties in Florida. A savvy investor would grab real estate and business opportunities now as over the next decade we will see an explosion of development and growth.
Tampa Business Broker Michael Shea can be reached at 321-287-0349 or email at mike@tworld.com .