The Most Affordable Neighborhoods in Lakewood, NM by Home Value

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 $139,383, lower than the New Mexico average of $265,486.

The average cost of rent is $1,180/mo in Lakewood, primarily driven by the current value of real estate in the Lakewood area. In Lakewood, 23.46% of households rent, and 40.34% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Lakewood is $6,960 per month. Households that rent pay about 16.96% of their income on rent here. Lakewood’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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