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Generally Investor friendly
STRs are explicitly allowed with no city caps; investors only need a city business tax receipt plus standard state/county tax registrations and insurance. However, the lack of local STR-specific rules adds compliance uncertainty and forces reliance on state licensing and county tourist taxes.
Local STR Agent
STR specialist · Lake Wales, FL
Lake Wales is a small, historically rich city in Polk County, in the heart of central Florida. With a population of approximately 16,000, it carries a quiet, small-town atmosphere that stands in striking contrast to the major theme-park destinations that surround it. The city is well known for its citrus heritage, its rolling ridge topography (uncommon for Florida), and as a peaceful base from which to explore the broader region. It sits roughly 60 miles southwest of Orlando and about 60 miles east of Tampa, placing it within easy reach of both metro areas while remaining distinctly removed from their bustle.
Bok Tower Gardens is undoubtedly the city's crown jewel and one of the most celebrated gardens in the southeastern United States. A National Historic Landmark, the property is centered on a 205-foot marble singing tower that houses a carillon of 60 bells, with daily concerts echoing across the surrounding pine and oak woodland. Visitors can also tour the Mediterranean-style Pinewood Estate mansion and wander through azalea- and camellia-lined garden trails. The gardens are located within Lake Wales city limits, only a few minutes' drive from the historic downtown.
Just to the north in Winter Haven, about a 25-minute drive from Lake Wales, lies Legoland Florida Resort, a theme park built on the site of the former Cypress Gardens and now a major draw for families traveling with younger children. The park features more than fifty rides, shows, and attractions built around the popular Lego brand, as well as a separate water park and on-site accommodations. Its proximity makes Lake Wales a popular alternative to staying in the busier Winter Haven corridor, particularly for guests seeking a quieter evening setting away from the theme-park crowds.
Back in town, Spook Hill offers a more curious, low-key attraction. This short stretch of road has long been a roadside curiosity, where drivers put their cars in neutral and appear to roll uphill — an optical illusion that has puzzled visitors for decades and was once promoted to tourists in mid-20th-century promotional materials. A short drive from Spook Hill, the historic downtown district offers a walkable stretch of locally owned shops, the restored Lake Wales Depot Museum housed in a former Atlantic Coast Line Railroad station, and examples of Mediterranean Revival architecture that reflect the area's early-20th-century citrus-boom prosperity.
For prospective short-term rental investors, Lake Wales offers a compelling combination of small-town character and strategic location. Its central position between Tampa and Orlando, combined with the high-profile draw of Bok Tower Gardens and the family appeal of nearby Legoland, gives the city year-round tourism potential, while the relative affordability of property compared with Florida's coastal markets keeps entry costs more accessible.