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City Report · OH

Lakewood

Pop. 50,007·69th most expensive in Ohio·Lakewood rents are up 10.8% over the past year
Median rent (all units)
$1,466/mo
Year-over-Year
+10.8%
Month-over-Month
-0.3%
vs US Median
-$499
Stable (Monthly)
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Most AffordableMost Expensive
Lakewood · $1,466
More affordable than 78% of US cities · National median $1,965/mo
Rent Reality Score
51/100
Fairly priced
OverheatedFairGreat value

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

Actual rent
$1,466/mo
Expected by trend
$1,477/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
Research median
$1,250/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$17,592/yr
At $1,466/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 10.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+10.8% YoY, -0.3% MoM), not inventory.
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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 → $1,466
up 38.7%
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 $1,466, up 38.7% 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

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

Can you afford rent in Lakewood on your salary?

At $1,466/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, OH

Last updated: July 20, 2026

The median rent in Lakewood is $1,466/mo as of July 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 26% of local median household income ($68,954/yr), Lakewood ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.8% over the past year.

FAQ

Frequently asked questions

Is Lakewood an affordable city for renters?

Lakewood is considered affordable for renters. At $1,466/mo, rent takes approximately 26% 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 $59,000/year (~$28/hour full-time) to afford the median rent of $1,466/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 10.8% over the past year as of July 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 #69 out of 128 tracked cities at $1,466/mo.

Which nearby cities are cheaper to rent in than Lakewood?

Several nearby cities have lower median rents than Lakewood ($1,466/mo): Fairview Park ($1,195/mo), Parma Heights ($1,276/mo), Parma ($1,402/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.

How does Lakewood rent compare to the national average?

Lakewood's median rent of $1,466/mo is $499 (25%) below the US national median of $1,965/mo. Within Ohio, it ranks #69 out of 128 tracked cities.
Income Affordability
26%
AFFORDABLE

At $1,466/mo, rent takes ~26% of Lakewood's median household income ($68,954/yr). The standard benchmark is 30%.

Lakewood 26%Benchmark 30%
State income tax2.75–3.5%
Run the Lakewood affordability calculator →
Lowest-rent ZIP codes in Lakewood
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Lakewood, OH

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