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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
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%).
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.
$794,827
for New jersey
for nation
13,518
$3,065 / per month