Cost of Living in Lakewood, OH
Population: 50,229 • 2026 Data
$65,925
Median Household Income
-15% vs national
$1,013
Median Monthly Rent
-25% vs national
$241,500
Median Home Value
-29% vs national
5.2%
Unemployment Rate
Housing in Lakewood
The median home value in Lakewood, OH is $241,500. Monthly rent for a typical unit averages $1,013, while total monthly housing costs (including utilities and insurance) average $1,131.
Rent-to-income ratio: 18.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Lakewood, OH is $65,925. The unemployment rate stands at 5.2%, with a labor force of 32,539 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.