Cost of Living in Lakewood, OH
Population 50,229 · Ohio · Data vintage 2023
(100 = US avg)
Most of Lakewood's cost indicators track within a reasonable band of national figures, with median household incomes near $65,925 — a more representative starting point for relocation math than the headline-expensive or headline-cheap cities on either tail.
Geographically, Lakewood sits roughly 6 miles west of Cleveland. Median home values run roughly 157% higher than Cleveland's $94,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lakewood
The median home value in Lakewood is $241,500 — 21% below the national median of $305,000. Median rent runs $1,013/month, 23% lower than the national median of $1,314/month. The median household income of $65,925/year is 12% lower than the US median of $74,580. The local unemployment rate is 5.2%, above the national average of 4.8%. Ohio's top state income tax rate is 3.8% and the combined sales tax is 7.2%. The climate averages highs of 60.8°F and lows of 44.0°F, with about 63.8" of annual snowfall. Overall, Lakewood has a cost of living index of 78 versus the US average of 100, meaning it is 22% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 36 | 39 | 47 | 60 | 71 | 80 | 84 | 82 | 76 | 64 | 51 | 40 |
| Low °F | 22 | 24 | 31 | 41 | 51 | 61 | 65 | 64 | 57 | 47 | 37 | 28 |
| Precip" | 2.99 | 2.49 | 3.06 | 3.75 | 3.79 | 3.83 | 3.67 | 3.56 | 3.93 | 3.60 | 3.37 | 2.99 |
| Snow" | 18.4 | 15.1 | 10.8 | 2.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 4.5 | 12.2 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Lakewood, OH?
Lakewood has a cost index of 78 (100 = national average). It is 22% below the national average.
What is average rent in Lakewood, OH?
The median gross rent in Lakewood is $1,013 per month based on 2023 Census data.
What is the average home price in Lakewood?
The median home value in Lakewood is $241,500 according to Zillow and Census data.
What is the median income in Lakewood?
The median household income in Lakewood is $65,925 per year (2023 ACS 5-year estimates).
What is the sales tax in Lakewood, OH?
The combined state and local sales tax rate in Lakewood is 7.2%. The Ohio state income tax top rate is 3.8%.
Is Lakewood, OH affordable?
Yes, Lakewood is generally considered affordable, with a cost of living index of 78 — about 22% below the US national average of 100.
What is the weather like in Lakewood?
Lakewood has average high temperatures of 60.8°F and average lows of 44.0°F. Annual precipitation is 41". Average annual snowfall is 63.8". Data from NOAA 1991–2020 Climate Normals.
Lakewood at a Glance
- Population
- 50,229
- Median Income
- $65,925
- Home Value
- $241,500
- Median Rent
- $1,013/mo
- Unemployment
- 5.2%
- Avg High Temp
- 60.8°F
- Sales Tax
- 7.2%
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Ohio Rankings
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