Lakewood, Ohio Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lakewood, Ohio rental market.
Lakewood, Ohio
Average Apartment Rent
$1,215
Y-o-Y Change in Average
Apartment Rent
-0.3%
As of May 2026
Compared to a year ago, Lakewood, Ohio apartments have recorded a -0.3% rent decrease.
Lakewood, Ohio Average apartment rent trend
Lakewood, Ohio Average Apartment Rent
Lakewood, Ohio Apartment rent ranges
At 40.34%, apartments priced Under $1,000 represent the bulk of Lakewood, Ohio rentals, while condos priced Over $3,000 hold the lowest share of the market – 0.04%.
Lakewood, Ohio Housing tenure**
Renters take up 56% of Lakewood, Ohio real estate, occupying a total of 14,859 units, while homeowners live in 11,583 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$46,392
Average household size of renter-occupied housing units**
1.62
Rental vacancy rate**
3.6%
Lakewood, Ohio Renter-occupied housing units by no. of bedrooms**
There are 6,135 rentals in Lakewood, Ohio with 1 bed making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 92 units. Overall, the median number of rooms in Lakewood, Ohio homes for rent is 4.
Lakewood, Ohio Renter-occupied units by age of householder**
Most condos for rent in Lakewood, Ohio are occupied by residents in the 25 - 34 years age group (40%), followed by those in the 35 - 44 years age group (14%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Lakewood, Ohio Renter-occupied housing units by family type**
Lakewood, Ohio Renter-occupied housing units by the presence of own children**
A total of 2,908 apartments for rent in Lakewood, Ohio, or 20% of all rentals are family households. Additionally, 10% of rental homes include children under the age of 18 – that’s 1,440 units. All in all, the median size of a renter-occupied household in Lakewood, Ohio is 1.62.
Lakewood, Ohio Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 44% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Lakewood, Ohio.
Lakewood, Ohio Renter-occupied units by year structure built**
The highest share of Lakewood, Ohio apartment rentals, namely 44% or 6,503 units, were Built 1939 or earlier, followed by those Built 1960 - 1969 (18%, 2,663 units), and the ones Built 1950 - 1959 (13%, 1,965 units).
Lakewood, Ohio Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Lakewood, Ohio renters (39%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lakewood, Ohio condos for rent is 2018.
Lakewood, Ohio Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Lakewood, Ohio renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 23% have No vehicle available.
Lakewood, Ohio Means of transportation to work of householders living in renter-occupied housing units**
Lakewood, Ohio Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lakewood, Ohio apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
