Housing costs in Lakewood?
A typical home costs
$250,900, which is 25.8% less expensive than the national average of
$338,100 and 27.4% more expensive than the average Ohio home, at
$197,000. Renting a two-bedroom unit in Lakewood costs
$1,050 per month, which is 7.1% more than the national average of
$980 and 4.8% more than the state average of
$1,000.
Can I afford Lakewood?
To live comfortably in Lakewood (zip 44107), Ohio, a minimum annual income of
$48,240 for a family, and
$34,800 for a single person is recommended.
What does A.I. say about Lakewood?
The cost of living in 44107 Lakewood, OH is relatively low compared to other parts of the country. The overall cost of living index in this area is about 95.2, which is 5% lower than the national average. The median home price for the area is $118,200 and the median rent price for a two-bedroom apartment is $850 per month. Utilities are also low with electricity costing an average of $104 per month and natural gas costing just over $60 per month. Food prices are also quite reasonable, with groceries reportedly costing slightly less than the national average. All these factors combine to make 44107 Lakewood, OH an affordable area to live in for individuals and families alike.