menu






Real Estate Prices & Overview

Lakewood median real estate price is $685,927, which is more expensive than 82.7% of the neighborhoods in Virginia and 84.2% of the neighborhoods in the U.S.

The average rental price in Lakewood is currently $427, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 100.0% of Virginia neighborhoods.

Lakewood is a suburban neighborhood (based on population density) located in Norfolk, Virginia.

Lakewood real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakewood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

Lakewood has a 10.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 60.8% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Norfolk, the Lakewood neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

In a nation where 1 out of every 4 children lives in poverty, the Lakewood neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you are planning to retire in Virginia, this neighborhood should be on your must-see list. For many reasons, Lakewood may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Virginia, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 95.2% of neighborhoods in VA. If a Virginia retirement is in your future, this neighborhood should be one of the places you visit. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for urban sophisticates.

Also, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 49.1%. This is a higher percent living alone than we found in 95.2% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.

Occupations

With 4.4% of employed workers living in the Lakewood neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 98.5% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Diversity

Did you know that the Lakewood neighborhood has more Ukrainian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.1% of this neighborhood's residents have Ukrainian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Lakewood neighborhood in Norfolk are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 82.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Lakewood neighborhood, 63.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 15.3% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.9%), and 9.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Lakewood neighborhood is English, spoken by 87.7% of households. Some people also speak Spanish (4.5%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Lakewood neighborhood in Norfolk, VA, residents most commonly identify their ethnicity or ancestry as English (18.3%). There are also a number of people of German ancestry (11.9%), and residents who report Irish roots (6.8%), and some of the residents are also of Italian ancestry (6.6%), along with some French ancestry residents (3.6%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Lakewood neighborhood spend between 15 and 30 minutes commuting one-way to work (49.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (85.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

comparable neighborhoods nearby