Living in Lakewood, Ohio
Cost of living, income, home prices, rent and demographics of Lakewood · Census data 2020–2024
Lakewood has 50,007 residents with a median age of 35.5. The median household income is $68,954 (3% lower than the Ohio median), the median home value is $262,200, the median rent is $1,070/month.
Lakewood at a glance
- Population
- 50,007
- Median age
- 35.5State: 39.7
- Median household income
- $68,954State: $71,389
- Median home value
- $262,200State: $214,800
- Median rent
- $1,070/moState: $1,034
- Homeowners
- 44.4%
- Bachelor's degree or higher
- 55.3%
- Average commute
- 23 min
Is Lakewood a good place to live?
Pros: An average commute of 23 minutes; a poverty rate of 10.3%.
Cons: Median household income 3% lower than the Ohio median; home values 22% higher than the state median; unemployment of 5%.
The weather is best in June to September.
Cost of living in Lakewood
Housing is the biggest part of the cost of living. In Lakewood the median home value is $262,200, 21% lower than the U.S. median. Renters pay a median of $1,070 per month, which is 25.1% of household income. Homeowners with a mortgage pay $1,806 a month in housing costs.
Lakewood median household income
The median household income in Lakewood is $68,954 and the income per person is $52,111. 10.3% of residents live below the poverty line (Ohio: 13.3%).
Housing in Lakewood: homes for sale and rent
- Housing units
- 29,105
- Owner-occupied
- 44.4%
- Renter-occupied
- 55.6%
- Vacant
- 7.7%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 1.85
Lakewood demographics
- Population
- 50,007
- Median age
- 35.5
- Under 18
- 14.3%
- 65 and older
- 15.3%
- Households
- 26,876
- Foreign-born
- 8.1%
- Veterans
- 4.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Lakewood ›
Education in Lakewood
55.3% of adults 25 and older in Lakewood have a bachelor's degree or higher (Ohio: 31.5%), and 19.8% have a graduate or professional degree.
Jobs and commute in Lakewood
- Unemployment rate
- 5%State: 4.8%
- Average commute
- 23 minState: 23 min
- Work from home
- 21.2%
- Drive alone
- 67%
- Public transit
- 1.6%
- Walk to work
- 2.7%
- Homes with broadband
- 92.3%
Lakewood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lakewood | 50,007 | $68,954 | $262,200 | $1,070 |
| Rocky River | 21,490 | $94,026 | $349,300 | $1,175 |
| Linndale | 243 | $76,667 | $97,500 | $950 |
| Fairview Park | 17,018 | $78,865 | $239,100 | $1,039 |
| Brooklyn | 11,158 | $69,346 | $163,100 | $971 |
| Brook Park | 18,284 | $71,332 | $169,600 | $1,122 |
| Cleveland | 366,097 | $40,801 | $102,000 | $945 |
| Bay Village | 15,984 | $132,254 | $353,000 | $894 |
| Westlake | 34,104 | $112,200 | $368,200 | $1,570 |
More for people moving to Lakewood
Lakewood ZIP code ›Weather and climate ›Living in Lakewood: FAQ
What is the median household income in Lakewood, OH?
The median household income in Lakewood is $68,954, 3% lower than the Ohio median of $71,389 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lakewood?
The median home value in Lakewood is $262,200, compared with $214,800 in Ohio.
How much is rent in Lakewood?
The median gross rent in Lakewood is $1,070 per month, about 25.1% of household income.
Is Lakewood, OH a good place to live?
Pluses: an average commute of 23 minutes; a poverty rate of 10.3%. Minuses: median household income 3% lower than the Ohio median; home values 22% higher than the state median; unemployment of 5%.
What is the median age in Lakewood?
The median age in Lakewood is 35.5 years (Ohio: 39.7).
How long is the commute in Lakewood?
The average commute to work in Lakewood is 23 minutes; 21.2% of workers work from home.
What is the unemployment rate in Lakewood?
The unemployment rate in Lakewood is 5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lakewood?
55.3% of adults in Lakewood have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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