Located in the state of Ohio, Lakewood is a moderately-sized city with a population of 50,866 residents. With a population density of 9,190 people per square mile, Lakewood is well above the nation's average density level. According to the most recent Census, 87% of Lakewood residents are White, 7% Black and 2% Asian. Lakewood has a high percentage of people who are married with children when compared to the rest of the country. In total, more than 70% of the population is classified as married and 58% have kids.
Living in Lakewood can be a positive experience for anyone relocating to the town. Having said that, in the state of Ohio, there are many amazing places to live, so choose wisely! The best areas in Lakewood and in surrounding cities are easier to find when you are able to make informed decisions. Using data from amenities, weather, education, you will see a detailed breakdown of the most important information as well as comparisons to the Ohio and national averages.
Using data and statistics Lakewood has received a livability score of 87 out of 100. This score is ranked in the 99th percentile when compared to all other cities. Clearly, Lakewood is doing something right, as this score ranks well above the average of most cities. Another exciting tidbit, is that Lakewood ranks better than 90% of all US cities! For each of the livability categories, we see that Lakewood ranks very well for amenities (A+), crime (A), education (A+) and housing (A+). There are some categories that Lakewood ranks poorly for, including: weather (D). It might be worth taking a closer look to determine why.
Location, location, location - possibly the three most important words in your search for a new place to live. Fortunately, in Lakewood, there is no shortage of amazing local amenities and interesting things to do.
Feeling a sense of safety in the area that you live in is a must for most people. Low crime rates can have a positive impact on things like home prices, home appreciation rates and the overall sense of community. Lakewood has a violent crime rate of 148 crimes per 100,000 residents which is far lower than the national average.
The average school test scores in Lakewood are 74%. This far exceeds the national average and ensures that this educational system will provide your children with the skills and the tools they need to thrive.
Based on multiple factors including: median home and rental prices, appreciation rates and home affordability, Lakewood has received high marks in the housing category. Based on these calculations, the apartment rental and real estate market appears to be very healthy.
Assuming that Lakewood meets all of your requirements, the next most important item to examine is the affordability of real estate in Lakewood. Everything else becomes a lot less important if it turns out that home prices in Lakewood are simply unattainable. Median real estate prices in Lakewood come in at $134,000, which is 1.6% higher than the Ohio average. The home price to income ratio compares the median home prices to the median household income. In Lakewood, the home price to income ratio is 2.8, which is 7.7% higher than the Ohio average. Year over year appreciation rates for homes in the Lakewood area were 9.3% and the 5 year appreciation rates came in at 7.8%. Why is this important? Knowing the appreciation rates for any area is a quick and easy way to determine if you will see a solid return on your investment.