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These days, finding an affordable place to live in the Lakewood area can be challenging. Home prices in Lakewood are now at a median cost of $428,597, higher than the Illinois average of $300,242.
The average cost of rent is $1,471/mo in Lakewood, primarily driven by the current value of real estate in the Lakewood area. In Lakewood, 7.78% of households rent, and 27.30% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakewood is $11,836 per month. Households that rent pay about 12.43% of their income on rent here. Lakewood’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Lake in the Hills, IL: less expensive homes
- Crystal Lake, IL: less expensive homes
- Ridgefield, IL: less expensive homes
- Huntley, IL: less expensive homes
- Algonquin, IL: less expensive homes
- Prairie Grove, IL: equally priced homes
- Trout Valley, IL: less expensive homes
- Cary, IL: less expensive homes
- Oakwood Hills, IL: less expensive homes
- Woodstock, IL: less expensive homes
Cities with Similar Populations
- Hancock, MI: less expensive homes
- Sylvania, GA: less expensive homes
- Taft, TX: less expensive homes
- Tallapoosa, GA: less expensive homes
- Tappan, NY: higher priced homes
- Tavernier, FL: higher priced homes
- Hardy, VA: less expensive homes
- Hardin, MT: less expensive homes
- Hanover, IN: less expensive homes
- Swanton, VT: less expensive homes
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