Cost of Living in Lakewood, NJ
Population 69,585 · Census ACS 2020–2024 5-year estimates
The median rent in Lakewood, NJ is $1,718/month, about the same as the New Jersey median and 22% higher than the U.S. median. The median home value is $715,500, 115% higher than the national median. Households earn a median of $56,968 a year, 45% lower than the state median.
Affordability
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Lakewood vs. New Jersey vs. U.S.
| Lakewood | New Jersey | U.S. | |
|---|---|---|---|
| Median rent | $1,718 | $1,720 | $1,413 |
| Median home value | $715,500 | $454,400 | $332,700 |
| Median household income | $56,968 | $103,556 | $80,734 |
| Homeownership rate | 39.1% | 63.8% | 65.2% |
| Bachelor's degree or higher | 31.9% | 43.6% | 35.7% |
| Poverty rate | 29.9% | 9.7% | 12.5% |
| Unemployment rate | 6.3% | 6.3% | 5.2% |
| Work from home | 16.1% | 16.8% | 15.1% |
| Median age | 17.5 | 40.1 | 38.9 |
FAQ
What is the average rent in Lakewood, NJ?
The median gross rent in Lakewood, NJ is $1,718 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Lakewood, NJ?
Using the common 30% rule, renting a median-priced home takes about $68,720 a year in gross income.
Is Lakewood, NJ expensive to live in?
Rent there is 22% higher than the U.S. median, and the median home costs about 12.6 times the median household income.
Other cities in New Jersey
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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