Apartments for Rent in Lake Wales, FL

Prices and availability in Lake Wales, FL were last updated on 15 May 2026.

The best apartments in Lake Wales, FL are: 2398 Mckinley Dr., BDN Investments Condominium Owners Association Inc, 428 E Johnson Ave, Unit 5 and 766 Hunt Drive.

The average rent in Lake Wales, FL is $1,377.

In Lake Wales, 41% of the residents are renting compared to 59% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 6% of Lake Wales's rentals, 67% are small-scale complexes with under 50 units, and 26% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Lake Wales are about 24 years old, on average. Of these, 69% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Studio apartments in Lake Wales are around 0% of rentals, while 1-bedroom floor plans represent 33% of the total stock. For those in search of larger rentals, 2-bedroom floorplans make up 49% of all rentals. More generous apartments with 3 bedrooms or more are also available in this city for those in search of more space.