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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 $490,533, higher than the Tennessee average of $315,131.
The average cost of rent is $1,475/mo in Lakewood, primarily driven by the current value of real estate in the Lakewood area. In Lakewood, 29.05% of households rent, and 30.81% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakewood is $7,033 per month. Households that rent pay about 20.98% of their income on rent here. Lakewood’s most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Old Hickory, TN: less expensive homes
- Madison, TN: less expensive homes
- Hermitage, TN: less expensive homes
- Green Hill, TN: less expensive homes
- Hendersonville, TN: equally priced homes
- Goodlettsville, TN: less expensive homes
- Mount Juliet, TN: equally priced homes
- Whites Creek, TN: less expensive homes
- Nashville, TN: equally priced homes
- Berry Hill, TN: higher priced homes
Cities with Similar Populations
- McDermott, OH: less expensive homes
- Eden, MD: less expensive homes
- Edmore, MI: less expensive homes
- Williamsburg, CO: less expensive homes
- Farmington, MS: less expensive homes
- Hico, TX: less expensive homes
- Webster, SD: less expensive homes
- Valley Forge, PA: higher priced homes
- Trenton, TX: less expensive homes
- Towamensing Trails, PA: less expensive homes
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