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City · 50,007 residents · Cuyahoga County, Ohio

Lakewood , Ohio

In Lakewood, a typical home is worth $262,200 and typical rent is $1,070 a month. Compared with all of Cuyahoga County, the typical home value is 34% higher, typical household income is 7% higher, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $262,200

    34% above the county

    22% above Ohio

    • Lakewood
    • Cuyahoga
    • Ohio

  • Typical rent

    $1,070a month

    About the same as the county

    3% above Ohio

    • Lakewood
    • Cuyahoga
    • Ohio

  • Typical household income

    $68,954a year

    7% above the county

    3% below Ohio

    • Lakewood
    • Cuyahoga
    • Ohio

  • Households that own their home

    44%

    15 points below the county

    23 points below Ohio

    • Lakewood
    • Cuyahoga
    • Ohio

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

Market now, with Zillow data

Zillow data
Typical home value
$290,588
4.6% more than 12 months ago
Typical rent
$1,422 a month
4.4% more than 12 months ago

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

Lakewood is in Cuyahoga County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Cuyahoga 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. Nearby, in Cleveland, the typical home value is $102,000: 61% less than in Lakewood ($262,200).

  2. Lakewood has the 14th lowest homeownership rate of the 292 cities in Ohio with more than 5,000 people (44%).

  3. The typical home in Lakewood is worth $262,200, 34% more than in Cuyahoga County as a whole ($195,400).

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, the apartment is the most common kind of home: 37%, against 24% in Cuyahoga County.

Year built

The typical home in Lakewood was built before 1940, the oldest group the Census tells apart; 73% of homes date from before 1960.

Homes in Lakewood are smaller: 38% have 3 bedrooms or more; in Cuyahoga County, 57%.

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

By price, most homes in Lakewood sit under the FHA limit for Cuyahoga County ($541,287): about 93%.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Cuyahoga County is $1,274: about 66% of rents in Lakewood are below it.

With a mortgage

$1,806 a month

Cuyahoga County: $1,570 a month

Without a mortgage

$853 a month

Cuyahoga County: $671 a month

Owners with a mortgage

66%

Cuyahoga County: 59%

The typical cost for an owner with a mortgage in Lakewood is $1,806 a month, more than in Cuyahoga County ($1,570); without one, $853.

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

Since 2015–2019, homes in Lakewood gained value faster than in Cuyahoga County: 66% against 47%.

The typical rent in Lakewood rose 34% over the same time; in Cuyahoga County, it rose 31%.

Housing prices ran ahead of income in Lakewood: typical income rose 29%, against +66% for home values and +34% for rent.

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

MeasureLakewoodCuyahoga CountyOhioUnited States
Rental vacancy 4.7%5.3%4.4%5.5%
Homeowner vacancy Unreliable estimate1.0%0.8%0.9%
More than one person per room Unreliable estimate1.2%1.5%3.4%
People per household 1.852.202.372.53
Drive alone 67%70%75%69%
Carpool 6%7%8%9%
Public transit 2%3%1%3%
Walk or bike 4%3%2%3%
Work from home 21%16%13%15%
Other means Unreliable estimate2%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Cuyahoga County, the rental vacancy rate in Lakewood is 4.7%.

On average, a household in Lakewood has 1.85 people, fewer than in Cuyahoga County (2.20).

Many people here do not commute at all: 21% work from home; in Cuyahoga County, 16%.

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 $262,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 42% of the typical household income in Lakewood, which is $68,954 a year. For that payment to be 28% of income, a household would need to earn about $103,220 a year.

The calculator's FHA and conventional loan limits are those of all of Cuyahoga 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 $9,177 (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

$2,408

at 7.18% · 30 years

Loan amount
$257,451
Total interest
$370,411
Paid off in
November 2056

Includes $4,428 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,609 a month

  • Tight

    $1,609 to $2,069 a month

  • Hard

    more than $2,069 a month

    Your payment · 42%

Compared with the typical household income in Lakewood ($68,954 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,408
Principal & interest$1,744
Property tax$439
Home insurance$109
FHA mortgage insurance (MIP)$116

You need at least $9,177 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 Cuyahoga County

Lakewood is in Cuyahoga County, Ohio. 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
$262,200
Typical monthly rent
$1,070
Typical yearly household income
$68,954
Households that own their home
44%
Effective property tax rate
2.01%

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

Numbers for all of Cuyahoga County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,274
Price change over 5 years (FHFA)
+54%
Homes in a high flood-risk zone
0.2%

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 Cuyahoga County.

Everything about Cuyahoga County

Buying

Buying a home in Lakewood

A typical home in Lakewood is worth $262,200: 34% above the county and 22% above Ohio. With the typical household income in Lakewood ($68,954 a year), a typical home costs 3.8 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 3.8 years
  • Cuyahoga 3.0 years
  • Ohio 3.0 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Cuyahoga County

According to FHFA’s house price index, home prices in Cuyahoga County rose 93% in the 10 years through 2025.

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

Period County Ohio U.S.
Last year (2025) +5.7% +4.8% +2.9%
5 years (2020–2025) +54% +53% +47%
10 years (2015–2025) +93% +93% +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 Cuyahoga County, Ohio and the U.S.

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

Typical home value
  • Lakewood $262,200
  • Cuyahoga $195,400
  • Ohio $214,800
  • United States $332,700
Typical monthly rent
  • Lakewood $1,070
  • Cuyahoga $1,060
  • Ohio $1,034
  • United States $1,413
Typical yearly household income
  • Lakewood $68,954
  • Cuyahoga $64,468
  • Ohio $71,389
  • United States $80,734
See the full table
Lakewood next to Cuyahoga County and Ohio
Measure Lakewood Cuyahoga County Ohio U.S.
Typical home value $262,200 $195,400 $214,800 $332,700
Typical monthly rent $1,070 $1,060 $1,034 $1,413
Typical yearly household income $68,954 $64,468 $71,389 $80,734
Households that own their home 44% 59% 67% 65%
Typical yearly property tax $5,266 $3,910 $2,822 $3,119
Effective property tax rate 2.01% 2% 1.31% 0.94%
Renters with high rent for their income 37% 48% 46% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Cuyahoga 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 $262,200 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 $2,408a month

    Least cash to close
    Down payment
    $9,177
    Cash to close
    $17,043
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $116

  • Conventional, 5% down $2,360a month

    Down payment
    $13,110
    Cash to close
    $20,976
    Rate
    7.18%
    Mortgage insurance
    PMI · $125

  • Conventional, 20% down, no PMI $1,969a month

    Down payment
    $52,440
    Cash to close
    $60,306
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,212a month

    Down payment
    $39,330
    Cash to close
    $47,196
    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 Cuyahoga County.

Property tax

Effective rate in Lakewood

2.01%of the home’s value each year

$5,266 a year for the typical owner in Lakewood.

  • Lakewood 2.01%
  • Cuyahoga 2%
  • Ohio 1.31%

What Ohio publishes Homestead exemption for seniors and people with disabilities (Ohio Department of Taxation)

Exemptions and deadlines in Ohio

Flood risk in Cuyahoga County

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

Homes in the high-risk zone
0.2%
802
Of those, with NFIP insurance
38%
County Ohio U.S.
Homes in the high-risk zone 0.2% 1.7% 3.5%
Of those, with NFIP insurance 38% 16% 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 $1,070 a month: about the same as the county. In Lakewood, 37% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Cuyahoga County, by unit size. To pay the 2-bedroom one ($1,274 a month) without spending more than 30% of your income, you would need to earn $24.50 an hour working full time.

HUD fair market rent for all of Cuyahoga 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 $924 $17.77 $36,960
1 bedroom $1,050 $20.19 $42,000
2 bedrooms $1,274 $24.50 $50,960
3 bedrooms $1,628 $31.31 $65,120
4 bedrooms $1,756 $33.77 $70,240

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 44107.

For 2 bedrooms it is $1,370: $96 more than the fair market rent for Cuyahoga County ($1,274).

  • 44107 $1,370$1,750

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 7 buildings with rents for lower incomes in Lakewood. These are the largest.

  • Lake Shore Towers 12506 Edgewater Dr, Lakewood 44107 183 homes, 169 low-income · For older adults (216) 521-1700
  • Westerly II 14306 Detroit Ave, Lakewood 44107 154 low-income homes · In service since 2017 · For older adults (216) 521-7260
  • Fedor Manor 12400 Madison Ave, Lakewood 44107 145 low-income homes · For older adults (216) 226-7575
  • South Westerly Apartments 14401 Detroit Ave, Lakewood 44107 65 low-income homes · For older adults (216) 221-0393
  • Westerly I 14300 Detroit Ave, Lakewood 44107 122 homes, 31 low-income · For older adults (216) 521-7260

See all 372 buildings in Cuyahoga 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 are 12 HUD-approved agencies with an office in Cuyahoga County; 5 say they serve in Spanish.

A grandmother smiles, seated at home.

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 Cuyahoga County. The ones below are statewide in Ohio: they work in Lakewood the same as in the rest of the state.

Which programs do I qualify for? All programs in Ohio

  • Your Choice! Down Payment Assistance

    Statewide in Ohio

    Ohio state agency help of 2.5% or 5% of the price for the down payment, closing costs or other costs before closing, forgiven after seven years; if you sell sooner, you repay all of it. Offered by Ohio Housing Finance Agency (OHFA).

    Forgivable

    See the program Official page

  • Mortgage Tax Credit

    Statewide in Ohio

    Ohio state agency certificate that turns part of your mortgage interest into a credit on your federal tax return, up to $2,000 a year: 40% with an OHFA mortgage (MTC Plus) or 15% to 20% with another mortgage (MTC Basic). Offered by Ohio Housing Finance Agency (OHFA).

    Tax credit

    See the program Official page

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.

  • Spanish American Committee

    4407 Lorain Ave, Cleveland · 4 miles away · Spanish

    • Budget and financial counseling
    • Budget and credit workshops
    • and 4 more
    (216) 961-2100

  • Asian Services in Action, Inc. (ASIA)

    3631 Perkins Ave, Cleveland · 7 miles away

    Also serves in Arabic, Cantonese, and Mandarin Chinese.

    • Budget and financial counseling
    • Fair housing pre-purchase workshops
    • and 6 more
    (216) 881-0330

  • CHN Housing Partners

    3711 Chester Ave, Cleveland · 7 miles away · Spanish

    Also serves in French.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (216) 881-8443

Every agency in Cuyahoga County All counseling agencies in Ohio

Help in Spanish near Lakewood

2 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

In HUD’s record, no housing authority with an office in Cuyahoga County is named for Lakewood or Cuyahoga County.

3 other authorities have an office in Cuyahoga County: see the list Source: HUD

Cities

Other cities in Cuyahoga County

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

Everything about Cuyahoga County Housing in Ohio
See 25 more cities in Cuyahoga County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

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

Neighboring counties

If Cuyahoga 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 holds hands with her two daughters on the beach at sunset.

Questions

Housing questions about Lakewood

Short answers with the numbers for Lakewood and all of Cuyahoga 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 $262,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Cuyahoga County it is $195,400.

How much does it cost to rent in Lakewood?

Typical rent in Lakewood is $1,070 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Cuyahoga County is $1,274.

What is the FHA loan limit in Lakewood?

Lakewood uses the FHA limit for all of Cuyahoga County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Lakewood?

The typical homeowner in Lakewood pays $5,266 a year, according to the U.S. Census Bureau. That is 2.01% of the home’s value; in Cuyahoga County, the rate is 2%.

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

There are 12 HUD-approved counseling agencies with an office in Cuyahoga County. 5 say they serve 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).