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Lakewood Local

Learn about the people, housing, costs and businesses in Lakewood Local, Ohio

Median Home$277,070
Median Rent$982/month
Population13,826
Leading IndustriesEducation · Finance & Insurance · Information & Media5% education
Home Value Growth⬆⬆⬆+22.9% over 2 years
Retirees21% of residentsnear the national average
Homeowners81% of occupied units
NotableVeteran Community11% of residents · top 5% nationally
NotableHigh Incomes$89k/year · top 26% nationally
Lakewood Local
OH

Frequently Asked Questions

What are today's mortgage rates in Lakewood Local?

As of today, the 30-year fixed mortgage rate for Lakewood Local is approximately 6.950% (6.988% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lakewood Local?

The median home value in Lakewood Local is $277k. The median monthly rent is $982. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lakewood Local?

Home values in Lakewood Local have increased 22.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lakewood Local?

Based on a typical all-in ownership cost of $1,223/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $52k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lakewood Local is $89k/year.

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What industries drive the economy in Lakewood Local?

The largest employment sectors in Lakewood Local are public administration (18%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.