Lakewood, OH housing market
Typical home value
$291K
▲ 4.6% 1 yr
Typical rent
$1,422/mo
▲ 4.5% 1 yr
Gross rent yield
5.9%
U.S. 6.3%
5-year home value change
+30%
U.S. +20%
Key takeaways
- 1The typical home in Lakewood is worth $290,588, up 4.6% over the past year and up 30% over five years.
- 2Typical rent is $1,422 a month (+4.5% YoY), a gross rent yield of 5.9% (below the Cleveland, OH metro's 6.9%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,597/mo, $175 more than typical rent.
- 4Zillow forecasts the Cleveland, OH metro's home values to change +3.7% over the next 12 months.
Market temperature (Cleveland, OH metro)
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 55/100, #80 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Lakewood compares
| Measure | Lakewood | Cleveland, OH metro | United States |
|---|---|---|---|
| Typical home value | $290,588 | $250,001 | $366,157 |
| Home value, 1-yr change | +4.6% | +3.9% | +1.2% |
| Typical rent | $1,422 | $1,440 | $1,932 |
| Rent, 1-yr change | +4.5% | +4.5% | +2.7% |
| Gross rent yield | 5.9% | 6.9% | 6.3% |
| Price-to-rent ratio | 17.0 | 14.5 | 15.8 |
| Mortgage P&I, typical home | $1,597 | $1,374 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Lakewood rental, pre-filled.
Rent vs buy in Lakewood
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $291K home.
Landlord in Ohio? See Ohio deposit, late fee and notice rules.
Other cities in the Cleveland, OH metro
Cleveland, OH
$116K home$1,359 rent
▼ 0.8% 1 yr
Parma, OH
$215K home$1,263 rent
▲ 3.9% 1 yr
Lorain, OH
$155K home$1,104 rent
▲ 3.8% 1 yr
Medina, OH
$381K home$1,931 rent
▲ 3.9% 1 yr
Elyria, OH
$187K home$1,176 rent
▲ 4.7% 1 yr
Mentor, OH
$276K home$1,690 rent
▲ 3.5% 1 yr
Cleveland Heights, OH
$206K home$1,394 rent
▲ 1.3% 1 yr
Euclid, OH
$148K home$1,152 rent
▲ 2.5% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.