Lakewood appreciation rates and housing market information

Lakewood housing market information

With 56,646 people, 28,416 houses or apartments, and a median cost of homes of $158,845, Lakewood real estate and house prices are near the national average for all cities and towns.

large apartment complexes or high rise apartments are the single most common housing type in Lakewood, accounting for 35.88% of the city's housing units. Other types of housing that are prevalent in Lakewood include single-family detached homes (34.35%), duplexes, homes converted to apartments, or other small apartment buildings (26.35%), and a few row houses and other attached homes (3.34%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Lakewood primarily live in small (one, two, or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Lakewood has a mixture of owner-occupied and renter-occupied housing.

The housing in Lakewood was primarily built before 1939 (60.58%), making the housing stock in Lakewood some of the older overall in America, although there is a range of ages of homes in Lakewood. The next most important Lakewood housing age is 1940-1969 (31.91%), followed by 1970-1994 (7.25%). There's also some housing in Lakewood built between 1995 and later (.26%).

Lakewood home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Lakewood, where house values have increased just 29.91%, which is an average annual increase of 2.99%. NeighborhoodScout's data show that in the latest quarter, Lakewood house values appreciated 2.52%, which is an annualized rate of 10.08%. This rate is lower than the appreciation rate found in 10% of the cities and towns in America.

Over the last year, Lakewood appreciation rates have trailed the rest of the nation. In the last twelve months, Lakewood's appreciation rate has been -0.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lakewood were at 2.52%, which equates to an annual appreciation rate of 10.08%.

Importantly, this makes Lakewood one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Ohio, our data show that Lakewood's latest annual appreciation rate is higher than 21% of the other cities and towns in Ohio.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lakewood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lakewood - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Lakewood real estate investment or home purchase decisions.