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City Report · NJ

Lakewood

Pop. 69,585·147th most expensive in New Jersey·Rental market data updated monthly for Lakewood, NJ
Median rent (all units)
$2,137/mo
Year-over-Year
Stable
Month-over-Month
+5.7%
vs US Median
+$175
Rising (Monthly)
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Most AffordableMost Expensive
Lakewood · $2,137
More expensive than 66% of US cities · National median $1,962/mo
Affordability
45% of income
STRETCHED
0%30% benchmark60%+

At $2,137/mo, rent takes about 45% of the local median household income, well above the 30% benchmark.

Income to afford
$85,000/yr
Local median income
$56,968/yr
Based on the 30%-of-income rule using Lakewood's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,230
1 BR
$1,380
2 BR
$1,700
3 BR
$2,260
4 BR+
$2,520
Fair Market Rent (HUD)
$1,700/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,137 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$25,644/yr
At $2,137/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +5.7% MoM), not inventory.
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Demographics

Who lives here

Lakewood, NJ is majority renter-occupied, has a large share of families with children, has a median income below the national average, 31.9% of residents hold a bachelor's degree or higher.

Population
69,585
Median income
$56,968
Median age
17.5
Renters
60.9%
Age distribution
51.2%
24.4%
15.5%
Under 1851.2%
18–3424.4%
35–5415.5%
55–644%
65+5%
Gender
51.6%
48.4%
Male51.6%
Female48.4%
Race & ethnicity
84.7%
13.1%
White84.7%
Black1.8%
Hispanic13.1%
Education (25+)
28.4%
29%
31.9%
No HS diploma10.7%
HS diploma28.4%
Some college29%
Bachelor's+31.9%
Housing tenure
39.1%
60.9%
Owner39.1%
Renter60.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Lakewood, NJ has changed in 5 years

Income
$52,222 → $56,968
up 9.1%
Population
66,752 → 69,585
up 4.2%
Renter share
61% → 60.9%
-0.1 pts
Bachelor's+
34.2% → 31.9%
-2.3 pts

Local incomes tracked alongside that move, going from a median of $52,222 in 2021 to $56,968 more recently. The population has grown by 4.2% since 2021, moving from about 66,752 residents to roughly 69,585. College-educated residents now make up 31.9% of adults here, versus 34.2% in 2021.

Community

Discussions about Lakewood

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View Lakewood rent history (2015–2026) →
Salary vs rent

Can you afford rent in Lakewood on your salary?

At $2,137/mo, how Lakewood rent compares to typical pay (30% rule).

By apartment size

Lakewood rent by bedroom count

Median rent for each apartment size in Lakewood. Click any size for full breakdown.

Local insights

Tips for renters in Lakewood

About renting in Lakewood, NJ

Last updated: August 17, 2026

The median rent in Lakewood is $2,137/mo as of August 2026. A studio apartment averages $1,230/mo while a 2-bedroom runs $1,700/mo. One-bedroom apartments average $1,380/mo and 3-bedroom units go for $2,260/mo.

At 45% of local median household income ($56,968/yr), Lakewood ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Lakewood an affordable city for renters?

Lakewood is considered stretched for renters. At $2,137/mo, rent takes approximately 45% of the local median household income ($56,968/yr). The standard benchmark is 30%. Lakewood significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Lakewood?

To keep rent at or below 30% of gross income, you would need to earn at least $85,000/year (~$41/hour full-time) to afford the median rent of $2,137/mo in Lakewood. The local median household income is $56,968/yr, meaning the typical Lakewood household falls short of that threshold.

Is rent going up or down in Lakewood?

Rent in Lakewood has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Lakewood rent compare to other cities in New Jersey?

Lakewood is one of the more affordable cities in New Jersey for rent, ranking #147 out of 183 tracked cities at $2,137/mo.

Which nearby cities are cheaper to rent in than Lakewood?

Lavallette is nearby and more affordable at $2,000/mo, which is $137 less than Lakewood.

What percentage of Lakewood residents rent vs. own?

According to Census data, approximately 60.9% of Lakewood households are renters, while 39.1% are owner-occupied. With a majority renter population, Lakewood has a strong rental market.

How does Lakewood rent compare to the national average?

Lakewood's median rent of $2,137/mo is $175 (9%) above the US national median of $1,962/mo. Within New Jersey, it ranks #147 out of 183 tracked cities.
Income Affordability
45%
STRETCHED

At $2,137/mo, rent takes ~45% of Lakewood's median household income ($56,968/yr). The standard benchmark is 30%.

Lakewood 45%Benchmark 30%
State income tax1.4–10.75%
Run the Lakewood affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lakewood, NJ

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