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City · 69,585 residents · Ocean County, New Jersey

Lakewood , New Jersey

In Lakewood, a typical home is worth $715,500 and typical rent is $1,718 a month. Compared with all of Ocean County, the typical home value is 80% higher, typical household income is 37% lower, and the share of households that own their home is 42 points lower.

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  • Typical home value

    $715,500

    80% above the county

    57% above New Jersey

    • Lakewood
    • Ocean
    • New Jersey

  • Typical rent

    $1,718a month

    2% below the county

    About the same as New Jersey

    • Lakewood
    • Ocean
    • New Jersey

  • Typical household income

    $56,968a year

    37% below the county

    45% below New Jersey

    • Lakewood
    • Ocean
    • New Jersey

  • Households that own their home

    39%

    42 points below the county

    25 points below New Jersey

    • Lakewood
    • Ocean
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$591,411
7.9% more than 12 months ago
Typical rent
$2,288 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Lakewood is in Ocean County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Ocean County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lakewood apart

What this place has that others do not, from public data, most unusual first.

  1. 39% of households in Lakewood own their home, against 81% in Ocean County.

  2. 39% of households in Lakewood have no internet at home (9% in Ocean County).

  3. The typical home in Lakewood is worth $715,500, 80% more than in Ocean County as a whole ($398,400).

  4. Nearby, in Leisure Village, the typical home value is $145,800: 80% less than in Lakewood ($715,500).

  5. Lakewood has the 5th largest share of rent-burdened renters of the 249 cities in New Jersey with more than 5,000 people (75%).

  6. The typical household income in Lakewood is $56,968, 37% less than in Ocean County as a whole ($89,863).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lakewood

What homes there are in Lakewood, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Lakewood there is a bit of everything: no kind of home reaches half. The most common are detached houses (36%); in Ocean County, 74%.

Year built

The typical home in Lakewood was built in 1993, 12 years after the typical one in Ocean County.

Much as in Ocean County, 63% of homes in Lakewood have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,281 a month

Ocean County: $2,330 a month

Without a mortgage

$1,500 or more a month

Ocean County: $920 a month

Owners with a mortgage

66%

Ocean County: 59%

Owning costs more in Lakewood: with a mortgage, the typical cost is $3,281 a month; in Ocean County, $2,330. Without one, $1,500 or more.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Lakewood rose 51% since 2015–2019, more than in Ocean County (43%).

The typical rent in Lakewood rose 24% since 2015–2019, about the same as in Ocean County (23%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLakewoodOcean CountyNew JerseyUnited States
Rental vacancy Unreliable estimate3.1%3.5%5.5%
Homeowner vacancy Unreliable estimate0.9%0.7%0.9%
More than one person per room 14.7%2.3%4.0%3.4%
People per household 4.852.652.622.53
Drive alone 62%75%62%69%
Carpool 13%8%8%9%
Public transit Unreliable estimate1%8%3%
Walk or bike 6%2%3%3%
Work from home 16%13%17%15%
Other means Unreliable estimate1%2%2%
Typical commute 10 to 19 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

In Lakewood, 14.7% of households live with more than one person per room, against 2.3% in Ocean County.

Households in Lakewood are bigger: 4.85 people on average; in Ocean County, 2.65.

In Lakewood, 13% of workers share a car to get to work; in Ocean County, 8%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lakewood?

A typical home costs more than the typical income allows

We start with a typical home in Lakewood, worth $715,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 131% of the typical household income in Lakewood, which is $56,968 a year. For that payment to be 28% of income, a household would need to earn about $266,082 a year.

The calculator's FHA and conventional loan limits are those of all of Ocean County.

Your numbers

Local data
$

Starts at the typical home value in Lakewood. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $25,043 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$6,209

at 7.18% · 30 years

Loan amount
$702,540
Total interest
$1,010,790
Paid off in
November 2056

Includes $12,083 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,329 a month

  • Tight

    $1,329 to $1,709 a month

  • Hard

    more than $1,709 a month

    Your payment · 131%

Compared with the typical household income in Lakewood ($56,968 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$6,209
Principal & interest$4,759
Property tax$835
Home insurance$298
FHA mortgage insurance (MIP)$316

You need at least $25,043 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lakewood and Ocean County

Lakewood is in Ocean County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lakewood's own numbers

Typical home value
$715,500
Typical monthly rent
$1,718
Typical yearly household income
$56,968
Households that own their home
39%
Effective property tax rate
1.4%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Ocean County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,283
Price change over 5 years (FHFA)
+73%
Homes in a high flood-risk zone
22%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Ocean County.

Everything about Ocean County

Buying

Buying a home in Lakewood

A typical home in Lakewood is worth $715,500: 80% above the county and 57% above New Jersey. With the typical household income in Lakewood ($56,968 a year), a typical home costs 12.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lakewood 12.6 years
  • Ocean 4.4 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Ocean County

According to FHFA’s house price index, home prices in Ocean County rose 106% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Ocean County.

Period County New Jersey U.S.
Last year (2025) +6.0% +6.2% +2.9%
5 years (2020–2025) +73% +63% +47%
10 years (2015–2025) +106% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lakewood next to Ocean County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lakewood $715,500
  • Ocean $398,400
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Lakewood $1,718
  • Ocean $1,755
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Lakewood $56,968
  • Ocean $89,863
  • New Jersey $103,556
  • United States $80,734
See the full table
Lakewood next to Ocean County and New Jersey
Measure Lakewood Ocean County New Jersey U.S.
Typical home value $715,500 $398,400 $454,400 $332,700
Typical monthly rent $1,718 $1,755 $1,720 $1,413
Typical yearly household income $56,968 $89,863 $103,556 $80,734
Households that own their home 39% 81% 64% 65%
Typical yearly property tax $10,001 $6,562 $9,590 $3,119
Effective property tax rate 1.4% 1.65% 2.11% 0.94%
Renters with high rent for their income 75% 58% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Ocean County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lakewood

For a typical $715,500 home in Lakewood, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lakewood's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $6,209a month

    Least cash to close
    Down payment
    $25,043
    Cash to close
    $46,508
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $316

  • Conventional, 5% down $6,077a month

    Down payment
    $35,775
    Cash to close
    $57,240
    Rate
    7.18%
    Mortgage insurance
    PMI · $340

  • Conventional, 20% down, no PMI $5,011a month

    Down payment
    $143,100
    Cash to close
    $164,565
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,672a month

    Down payment
    $107,325
    Cash to close
    $128,790
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lakewood and for Ocean County.

Property tax

Effective rate in Lakewood

1.4%of the home’s value each year

$10,001 a year for the typical owner in Lakewood.

  • Lakewood 1.4%
  • Ocean 1.65%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Ocean County

FEMA does not publish these numbers by city: they are for all of Ocean County.

Homes in the high-risk zone
22%
47,067
Of those, with NFIP insurance
71%
County New Jersey U.S.
Homes in the high-risk zone 22% 6.7% 3.5%
Of those, with NFIP insurance 71% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lakewood

Typical rent in Lakewood is $1,718 a month: 2% below the county. In Lakewood, 75% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Ocean County, by unit size. To pay the 2-bedroom one ($2,283 a month) without spending more than 30% of your income, you would need to earn $43.90 an hour working full time.

HUD fair market rent for all of Ocean County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,671 $32.13 $66,840
1 bedroom $1,847 $35.52 $73,880
2 bedrooms $2,283 $43.90 $91,320
3 bedrooms $2,927 $56.29 $117,080
4 bedrooms $3,241 $62.33 $129,640

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lakewood

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lakewood is in ZIP code 08701.

For 2 bedrooms it is $2,050: $233 less than the fair market rent for Ocean County ($2,283).

  • 08701 $2,050$2,630

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lakewood when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Lakewood

HUD lists 10 buildings with rents for lower incomes in Lakewood. These are the largest.

  • Eleanor Levovitz Senior Citizens 500 Clifton Ave, Lakewood 08701 151 homes, 150 low-income · For older adults
  • Lakewood Plaza Section II 154a DR. Martin Luther King Drive, Lakewood 151 homes, 137 low-income · In service since 2012
  • Lakewood Plaza II 154A Dr. M. L. King Dr, Lakewood 08701 152 homes, 78 low-income · For families
  • Lakewood Plaza I 202A Dr. M. L. King Dr, Lakewood 08701 98 homes, 68 low-income · For families
  • Chambers Crescent 100 Center St, Lakewood 62 low-income homes · In service since 2016

See all 76 buildings in Ocean County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Lakewood

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Ocean County; 1 says it serves in Spanish.

A man listens closely, seated at a meeting table.

HUD counseling is free or low-cost

Assistance programs in Lakewood

No down payment, repair or rent-help program on our list is for Lakewood or Ocean County. The ones below are statewide in New Jersey: they work in Lakewood the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Lakewood

The HUD-approved agencies closest to the center of Lakewood, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Ocean, Inc. (ocean Community Economic Action Now, Inc.)

    40 Main St, Toms River · 10 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 6 more
    732-244-5333-1108

  • Navicore Solutions

    200 US Highway 9, Manalapan · 15 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (732) 409-6281

  • Navicore Solutions - Manalapan, NJ

    200 US Highway 9, Manalapan · 15 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (732) 409-6281

Every agency in Ocean County All counseling agencies in New Jersey

Help in Spanish near Lakewood

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lakewood

HUD’s record names them for Lakewood or Ocean County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the Township of Lakewood Public housing and Section 8 vouchers (732) 364-1300
  • Lakewood Township Residential Assistance Prog Section 8 vouchers (732) 367-0660

2 other authorities have an office in Ocean County: see the list Source: HUD

Cities

Other cities in Ocean County

These cities are also in Ocean County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Ocean County Housing in New Jersey

Nearby cities

The cities closest to Lakewood, with the typical home value.

Neighboring counties

If Ocean County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lakewood.

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Lakewood

Short answers with the numbers for Lakewood and all of Ocean County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lakewood?

The typical home value in Lakewood is $715,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Ocean County it is $398,400.

How much does it cost to rent in Lakewood?

Typical rent in Lakewood is $1,718 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Ocean County is $2,283.

What is the FHA loan limit in Lakewood?

Lakewood uses the FHA limit for all of Ocean County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Lakewood?

The typical homeowner in Lakewood pays $10,001 a year, according to the U.S. Census Bureau. That is 1.4% of the home’s value; in Ocean County, the rate is 1.65%.

Where can I find free help to buy or rent in Lakewood?

There is 1 HUD-approved counseling agency with an office in Ocean County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).