How much does it cost to rent in Lakewood, OH?

As of August 2026, the median monthly rent in Lakewood, OH is $1,457. This figure is based on aggregated data from public sources and community-submitted rents.

Is Lakewood cheaper than other Ohio cities?

Lakewood falls in the middle range for Ohio, ranking #68 out of 124 cities at $1,457/mo.

When was Lakewood rent data last updated?

Lakewood rent data reflects August 2026 and was last refreshed on August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.

What is the Fair Market Rent in Lakewood, OH?

HUD sets the Fair Market Rent for a two-bedroom home in Lakewood, OH at $1,250 per month, which is 14% below the $1,457 market median. Fair Market Rent is the Housing Choice Voucher (Section 8) payment standard. It is a 40th-percentile gross rent that includes essential utilities such as electricity, water, gas, sewer, and trash, and HUD updates it once a year, so it measures something different from current market asking rent.

City Report · OH

Lakewood

Name: Average Rent Prices in Lakewood, OH
Creator: RentDataNow
License: https://creativecommons.org/licenses/by/4.0/

Pop. 50,007·68th most expensive in Ohio·Lakewood rents are up 9.6% over the past year

Median rent (all units)

$1,457/mo

Year-over-Year

+9.6%

Month-over-Month

-0.6%

vs US Median

-$505

Falling (Monthly)

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Most AffordableMost Expensive

Lakewood · $1,457

More affordable than 78% of US cities · National median $1,962/mo

Rent Reality Score

53/100

Fairly priced

OverheatedFairGreat value

Rents are right about where Lakewood's 10-year trend predicts.

Actual rent

$1,457/mo

Expected by trend

$1,482/mo

The Rent Reality Score compares today's median rent to where Lakewood's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$910

1 BR

$1,030

2 BR

$1,250

3 BR

$1,610

4 BR+

$1,720

Fair Market Rent (HUD)

$1,250/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,457 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

Loading…

Last updated: August 17, 2026

Annual cost

$17,484/yr

At $1,457/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 9.6% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+9.6% YoY, -0.6% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Lakewood, OH is majority renter-occupied, skews toward younger working-age adults, 55.3% of residents hold a bachelor's degree or higher.

Population

50,007

Median income

$68,954

Median age

35.5

Renters

55.6%

Age distribution

14.3%

34.9%

24.9%

15.3%

Under 1814.3%

18–3434.9%

35–5424.9%

55–6410.5%

65+15.3%

Gender

49.3%

50.7%

Male49.3%

Female50.7%

Race & ethnicity

84.3%

White84.3%

Black5.6%

Hispanic4.3%

Asian3.1%

Other2.7%

Education (25+)

17.8%

22.6%

55.3%

No HS diploma4.3%

HS diploma17.8%

Some college22.6%

Bachelor's+55.3%

Housing tenure

44.4%

55.6%

Owner44.4%

Renter55.6%

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

2021 vs 2026

How Lakewood, OH has changed in 5 years

Rent

$1,057 → $1,457

up 37.8%

Income

$57,588 → $68,954

up 19.7%

Population

50,841 → 50,007

down 1.6%

Renter share

56.1% → 55.6%

-0.5 pts

Bachelor's+

49.6% → 55.3%

+5.7 pts

Median age

34.6 → 35.5

+0.9 yrs

Across the past five years, the going rent in Lakewood, OH has shifted from $1,057 to $1,457, up 37.8% since 2021. Median household income climbed from $57,588 to $68,954 between 2021 and 2024, a 19.7% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Lakewood, OH losing about 834 residents over the five-year window, down 1.6% on net. Bachelor's-degree-or-higher attainment moved from 49.6% to 55.3% across the same window. Taken together, the five-year picture in Lakewood, OH reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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 $1,457/mo, how Lakewood rent compares to typical pay (30% rule).

Registered Nurse

Avg $88,811/yr · Rent = 19.7% income

very comfortable

Elementary School Teacher

Avg $63,055/yr · Rent = 27.7% income

affordable

Police Officer

Avg $72,634/yr · Rent = 24.1% income

affordable

Software Developer

Avg $129,823/yr · Rent = 13.5% income

very comfortable

Lawyer

Avg $165,882/yr · Rent = 10.5% income

very comfortable

Firefighter

Avg $59,041/yr · Rent = 29.6% income

affordable

Truck Driver

Avg $53,307/yr · Rent = 32.8% income

stretched

Electrician

Avg $65,706/yr · Rent = 26.6% income

affordable

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, OH

Last updated: August 17, 2026

The median rent in Lakewood is $1,457/mo as of August 2026. A studio apartment averages $910/mo while a 2-bedroom runs $1,250/mo. One-bedroom apartments average $1,030/mo and 3-bedroom units go for $1,610/mo.

At 25% of local median household income ($68,954/yr), Lakewood ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.6% over the past year.

FAQ

Frequently asked questions

Is Lakewood an affordable city for renters?

Lakewood is considered affordable for renters. At $1,457/mo, rent takes approximately 25% of the local median household income ($68,954/yr). The standard benchmark is 30%. Lakewood falls comfortably within that range.

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 $58,000/year (~$28/hour full-time) to afford the median rent of $1,457/mo in Lakewood. The local median household income is $68,954/yr, meaning the typical Lakewood household meets that threshold.

Is rent going up or down in Lakewood?

Rent in Lakewood has increased 9.6% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Lakewood rent compare to other cities in Ohio?

Lakewood is middle-of-the-pack for Ohio for rent, ranking #68 out of 124 tracked cities at $1,457/mo.

Which nearby cities are cheaper to rent in than Lakewood?

Several nearby cities have lower median rents than Lakewood ($1,457/mo): Parma Heights ($1,177/mo), Fairview Park ($1,301/mo), Parma ($1,373/mo).

What percentage of Lakewood residents rent vs. own?

According to Census data, approximately 55.6% of Lakewood households are renters, while 44.4% are owner-occupied. With a majority renter population, Lakewood has a strong rental market.