Median home price: $100,000
Lakeland's location along Interstate 4 has long made it a pit stop for travelers driving between Orlando and Tampa. Lately, however, the area has become a destination, thanks to the opening of Legoland in October.
Legoland now employs 1,000 people. A water theme park slated to open this summer will add even more jobs. Together, the parks are expected to spark ancillary businesses like hotels and restaurants.
"We're seeing a very positive uptick in employment numbers and housing," said Kathleen Munson, president of the Lakeland Area Chamber of Commerce.
That's good news for a town that has seen unemployment surpass the national average. In November, the jobless rate dropped 2.2 percentage points, but it was still at 11%.
For those that do reside here, the cost of living is low -- as are the taxes. The median home price during the three months ended September 30 was just $89,000, down 56% from the peak, according to the National Association of Home Builders.
Foreclosures, which had slammed this housing market for years, have also diminished, according to Realtor.com. There were only 86 metro area homes foreclosed on during September, a 35% year-over-year decline.
Fiserv forecasts nearly double-digit, annual home-price growth of 9.6% over the next five years, the most of any of Realtor.com's turnaround towns.
NEXT: Punta Gorda, Fla.
