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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Lakewood, NJ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Lakewood, NJ Housing Market Trends

With a population of 69,398, 13,518 total housing units (homes and apartments), and a median house value of $794,827, real estate costs in Lakewood are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Lakewood, accounting for 37.81% of the town's housing units. Other types of housing that are prevalent in Lakewood include row houses and other attached homes ( 29.86%), large apartment complexes or high rise apartments ( 21.33%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.00%).

Not only is Lakewood's real estate primarily composed of large, four, five or more bedroom residences ( 43.03%), but it has a blend of both renters and owners ( 62.34% renters; 37.66% owner occupied).

Lakewood homes and real estate are some of the newest in America. 37.95% of Lakewood's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Lakewood real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.68%), and between 1940-1969 ( 17.92%). There's also some housing in Lakewood built before 1939 ( 7.46%).

Lakewood Home Appreciation Rates

In the last 10 years, Lakewood has experienced some of the highest home appreciation rates of any community in the nation. Lakewood real estate appreciated 130.47% over the last ten years, which is an average annual home appreciation rate of 8.71%, putting Lakewood in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lakewood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Lakewood's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Lakewood's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.

Relative to New Jersey, our data show that Lakewood's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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 2000, to assist you in making the best Lakewood real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$794,827

Lakewood, NJ Home Prices
> $1,333,000
$1,000,001 - $1,333,000
$666,001 - $1,000,000
$533,001 - $666,000
$400,001 - $533,000
$266,001 - $400,000
$134,001 - $266,000
$67,001 - $134,000
$0 - $67,000
9.9%
9.9%
13.3%
13.3%
41.6%
41.6%
18.4%
18.4%
7.0%
7.0%
3.0%
3.0%
1.3%
1.3%
2.8%
2.8%
2.7%
2.7%
0% 100.0%
% of Homes
High

for New jersey

Very High

for nation

Number of Homes And Apartments:

13,518

Lakewood Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,065 / per month

Homeownership Rate

Owners
Renters
37.7%
37.7%
62.3%
62.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.6%
4.6%
95.4%
95.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
37.9%
37.9%
36.7%
36.7%
17.9%
17.9%
7.5%
7.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
37.8%
37.8%
29.9%
29.9%
11.0%
11.0%
21.3%
21.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.5%
2.5%
10.1%
10.1%
24.3%
24.3%
20.1%
20.1%
12.7%
12.7%
30.3%
30.3%
0% 100.0%
% of Homes