Lakewood, New Jersey is a medium-sized city with a population of 54,679 people. Lakewood has a population density of 7,724 people per square mile. This would be considered well above the national population density level. If we look at the most recent Census, Lakewood is known to have a predominantly White population. The next two most common races are Black and Asian. Lakewood could be a great place for young adults and students as the average age of 18 years old is below the nation’s average. Lakewood is known to be family friendly as more than 83% of the population has already tied the knot. It might also be worth noting that 21% of residents also have children under the age of 18.
If you’re considering relocating to any new city, it could be a very discouraging task. However, it could also be a fulfilling experience if you are willing to get to know the area before actually living in Lakewood, New Jersey. Finding the best places to live in Lakewood and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, employment, housing and other important metrics.
The livability score in Lakewood is 56 out of 100 and the city is ranked in the 8th percentile of all cities across America. Compared to the US average, this area has a score which ranks among the lowest in the nation, and it is not considered a very livable city. In fact, Lakewood actually ranks among the lowest 10 percentile of cities across the nation. There are seven total categories that generate the livability score. Lakewood scores well for amenities (A+). Unfortunately for Lakewood, there are some categories for which it does not rank well, this includes: cost of living (F), education (F), employment (D-) and housing (F).
Based on the proximity of local amenities like grocery stores, restaurants, coffee shops, parks, librairies, etc., Lakewood has received a higher than average score for its local amenities. If you’re planning on relocating and making this area your permanent home, it’s nice to know that there is an ample amount of amenities and things to do within walking distance or a short drive. Some of the interesting things to do and attractions include: FirstEnergy Park, Tiberias Spa and Salon, and Ladida.
Certain items on your wish list like shopping, restaurants, nightlife and proximity to public transportation are all important factors to search for. Having said that, perhaps the most important metric to consider when contemplating a move to Lakewood is real estate affordability. The median home price for Lakewood homes is $409,300, which is 29.4% higher than the New Jersey average. If we take a closer look at the affordability of homes in Lakewood, we’ll see that the home price to income ratio is 10, which is 132.6% higher than the New Jersey average. Knowing if your home will appreciate on a long term or even a short term basis should be factored into your decision making. An increase in your home’s value can be a good way to generate tax-free equity that can create long term financial security. In the past year, appreciation rates for homes in the Lakewood area were 2.6% and 5 year appreciation rates were 7.7%.
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