What it's like to live in Lakewood
Lakewood is a smaller city in Ohio with rent below the national average, home prices that remain within reach, unemployment below the national average, and crime rates well below the national average. Those factors carry real weight for anyone weighing where to move next.
The tradeoffs are worth naming plainly. Lakewood deals with air quality that falls short of national benchmarks, a population that has been shrinking, cold winters, and heavy snowfall.
The good
- Rent below the national average
- Affordable home prices
- Low unemployment
- Low crime rates
- Short commutes
- Highly educated workforce
The not so good
- Air quality concerns
- Shrinking population
- Cold winters
- Heavy snowfall — 64" per year
How Lakewood compares
Median household income
Median rent (per month)
Median home value
What it takes to move to Lakewood
Based on Lakewood's median rent, home value and household income
To rent
$2,140
up front: first month plus a typical one-month deposit
- Income to keep rent under 30%: $42,800 a year
- 35% of Lakewood renters spend 30% or more of their income on rent
To buy
$52,440
a 20% down payment on the median home
- With 10% down: $26,220
- Homes cost 3.8× the typical local household income (US: 4.1×)
Moving costs, closing costs and taxes not included.
The details
Cost of living▼ 24% below US
$1,070/mo median rent
Cost of living works in this city's favor. Median rent sits around $1,070 a month, nothing that raises eyebrows. Solid value overall. Home prices are reasonable, with a median around $262,200. Not a steal, but not intimidating either.
Median home value $262,200 · 35% of renters cost-burdened
Job market▼ 26% below US
3.2% unemployment
Unemployment here is 3.2%, a little below the national average of 4.3%.
City-level (BLS)
Safety▼ 75% below US
81 violent crimes per 100k
Safety is genuinely one of the selling points here. Both violent and property crime run well below the national average, the kind of numbers that fade into the background after a week of living somewhere.
Property crime 935/100k · Lakewood Police Department · 2025 data
Getting around▼ 12% below US
23 min average commute
Commutes are reasonable, averaging 22.8 minutes. Nothing heroic, and there's still time left over for a life after work. 7 in 10 workers drive to work; 21% work from home.
How workers get to work
Climate
Summers are warm, with highs around 82°F, and winters are cold, with lows around 25°F and snow a regular occurrence. Rainfall is regular throughout the year.
Average month
30-year averages, 1991–2020
Education & workforce▲ 54% above US
55% bachelor's degree or higher
This is a highly educated city, with over half the adult population holding a college degree. That tends to shape the job market and the broader culture, and it's a solid indicator of a strong professional scene.
Schools
12 public schools inside the boundary
There are 12 public schools inside the boundary and 3 private schools. The student-to-teacher ratio is 17:1, slightly above the national average of 16:1.
Parks & recreation
The nearest national park or historic site is Cuyahoga Valley National Park (20 miles away). There are 5 national parks and sites within a day's drive.
Bottom line
Lakewood's strongest points are rent below the national average and home prices that remain within reach; the main tradeoffs are air quality that falls short of national benchmarks and a population that has been shrinking. A year of median rent ($1,070/mo) equals 19% of the median household income here, about the same as the 21% typical nationwide. It tends to suit people watching their budget, job seekers, and anyone prioritizing low crime.
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