Lakewood, Shelby County, IL demographics:
population, income, and more

Total population
4,723
0.1% year-over-year change
Median household income
$173,625/yr
-6.5% year-over-year change
Housing units
1,657
6.0% year-over-year change

Lakewood population

How many people live in Lakewood

Lakewood is home to 4,723 residents, according to the most recent Census data. Gender-wise, 51.8% of Lakewood locals are male, and 48.2% are female.

Total population
4,723
0.1% year-over-year change
Gender ratio
Male
51.8%
2,446
Female
48.2%
2,277
Value Percent YoY change
Male 2,446 51.8% 0.5%
Female 2,277 48.2% -0.3%
A higher population often means more rental variety and livelier areas. The gender balance—how many men live here compared to women—can reveal a lot about the community and the lifestyles of its residents. Use this info to get a sense of the area's pace and personality.

Age demographics

The median age in Lakewood is 43, with the population distributed as follows: about 21.1% are children under 15, then 14.5% are in the 15 to 24 age group. Adults between 25 and 44 make up 17.3% of the population, while another 35% fall into the 45 to 64 bracket. Finally, around 12.2% are 65 or older.

Median age
42.9
Age breakdown
Under 15
21.1%
15 to 24
14.5%
25 to 44
17.3%
45 to 64
35%
Over 65
12.2%
Value Percent YoY change
Under 15 998 21.1% -6.4%
15 to 24 684 14.5% -4.5%
25 to 44 815 17.3% 1.2%
45 to 64 1,651 35% 8.1%
Over 65 575 12.2% -4.5%
The age composition helps you get insight into who lives in the area. A younger population might mean a more active, fast-paced vibe, while an older one could suggest a quieter, slower lifestyle. If there's a balanced makeup, you’re likely to find a variety of services, housing types, and community spaces that cater to different life stages.

Racial makeup

In Lakewood, 86.1% of the population are US-born citizens, while 11.3% have gained naturalized citizenship. At the same time, 2.7% of residents are non-citizens. As for race, 85.4% of locals are Caucasian, 0.6% are African American and 4.8% have Asian roots. There’s also a share of 7.1% that includes residents with two or more races.

Citizenship
U.S.-born citizens
86.1%
Non-U.S.-born citizens
11.3%
Non-citizens
2.7%
Value Percent YoY change
U.S.-born citizens 4,065 86.1% -2.0%
Non-U.S.-born citizens 532 11.3% 17.2%
Non-citizens 126 2.7% 8.6%
Racial breakdown
White
85.4%
Black or African American
0.6%
American Indian and Alaska Native
0.7%
Asian
4.8%
Native Hawaiian and other Pacific Islander
0%
Two or more races
7.1%
Other
1.4%
Value Percent
White 4,034 85.4%
Black or African American 26 0.6%
American Indian and Alaska Native 34 0.7%
Asian 227 4.8%
Two or more races 334 7.1%
Other 68 1.4%

Households in Lakewood

A peek inside Lakewood households

Lakewood has 1,601 households, with an average of 3 members in each. Of these, 80.9% are families, while the remaining 19.1% are made up of individuals living alone or with non-relatives, such as roommates.

Households stats

Total households
1,601
6.2% year-over-year change
Average people per household
3
Non-family households
306
Family households
1,295
Value Percent YoY change
Non-family households 306 19.1% 8.9%
Family households 1,295 80.9% 5.5%
The mix between family and non-family households gives a glimpse into daily life. A higher percentage of families might mean more parks and schools, while more non-family setups can mean flexible housing and diverse living styles. For renters, this can signal what kinds of homes are common and can help you figure out if the area matches your lifestyle.

Housing in Lakewood

The housing landscape of Lakewood

Lakewood's housing consists of 1,657 units, with 91.4% being detached single-family homes ideal for those wanting space. Attached options, including duplexes and townhouses, make up 6.8% and offer a more compact, shared living style.

Housing units
1,657
6.0% year-over-year change
Housing types
Value Percent
1 unit, detached 1,514 91.4%
1 unit, attached 113 6.8%
3 or 4 units 30 1.8%
Homes built since 2020
% year-over-year change

The age of buildings in Lakewood

In Lakewood, the median construction year is 1999. About 9.9% of homes were built before the 1940s, with another 2.2% going up by 1949. Most development happened in the second half of the 20th century.

Construction year breakdown by decade
Value Percent YoY change
Built in 1939 or earlier 164 9.9% 10.8%
Built between 1940 and 1949 37 2.2% -24.5%
Built between 1950 and 1959 115 6.9% 32.2%
Built between 1960 and 1969 22 1.3% 29.4%
Built between 1970 and 1979 143 8.6% 0.7%
Built between 1980 and 1989 153 9.2% 31.9%
Built between 1990 and 1999 238 14.4% -15.9%
Built between 2000 and 2009 600 36.2% 10.7%
Built between 2010 and 2019 185 11.2% 3.4%
As a renter, knowing when homes were built helps you understand the potential condition and design of rental units. Newer builds may have more contemporary layouts, while older homes can offer character or larger lots, depending on the area.

Lakewood occupancy rates

Out of the 1,601 occupied housing units in Lakewood, 96.8% are owner-occupied, while 3.2% are lived in by tenants. Meanwhile, 3.4% of all homes on the local market sit vacant.

Occupied housing units
1,601
6.2% year-over-year change
Occupancy breakdown
Renter occupied
52
Owner occupied
1,549
Value Percent YoY
change
Renter occupied 52 3.2% 44.4%
Owner occupied 1,549 96.8% 5.2%
Unoccupied housing units
3.4%
Unoccupied housing units refer to homes that are currently without residents—whether they're waiting for renters or owners, used seasonally, or simply unclaimed. A higher share of empty homes may mean more housing availability, while a low number can reflect a tighter market with more competition. This, along with the renter-vs.-owner mix, helps paint a clearer picture of what types of housing and services are likely to be available in the area.

Lakewood housing costs

Median housing costs per month
$2,746/month
This figure sums up typical monthly housing costs for all households in the area. If you own, it includes mortgage payments in addition to property taxes, insurance and HOA fees. If you rent, it accounts for rent plus extras like utilities. It’s useful for seeing how local living expenses stack up compared to other places.

Education in Lakewood

Lakewood education at a glance

About 14.1% of the population in Lakewood went to high school, while 20.5% pursued college studies. Another 7.2% earned an associate degree and 35.4% hold a bachelor’s. Meanwhile, 22.5% went even further, earning a master’s or doctorate.

Education level
Value Percent YoY change
No high school 11 0.3% 83.3%
High school diploma 473 14.1% -9.4%
College diploma 687 20.5% 4.6%
Associate degree 241 7.2% -1.2%
Bachelor's degree 1,187 35.4% 7.1%
Graduate degree 755 22.5% 0.8%
A community’s education mix can offer insights into the local economy and housing market. Higher levels of education often align with more job opportunities and stable incomes, which can increase demand for homes and influence both rent prices and rental availability.

Income in Lakewood

How much people earn in Lakewood

The average annual household income in Lakewood was $231,493 in 2024, the most recent annual data available, according to the U.S. Census Bureau. This marked a -0.2% change from the previous year. At the same time, the median income stood at $173,625, reflecting a -6.5% shift over the same period.

Average household income in Lakewood
$231,493/year
-0.2% year-over-year change
Median household income in Lakewood
$173,625/year
-6.5% year-over-year change

Lakewood income by age

In Lakewood, households led by residents aged 25 to 44 — usually in the early to mid stages of their careers — have a median income of $247,794. Those with someone between 45 and 64 in charge, often well established professionally, earn $162,134 overall. Overall, 96.8% of the locals in this community live above the poverty line.

Income breakdown by age
Value YoY change
25 - 44 $247,794 3.0%
45 - 64 $162,134 -12.9%
Over 65 $122,396 34.8%
Above poverty level
4,508
Below poverty level
148
Value Percent YoY
change
Above poverty level 4,508 96.8% -0.6%
Below poverty level 148 3.2% 12.1%

Employment in Lakewood

Workforce and job types in Lakewood

The job market in Lakewood is powered by 2,453 working residents, spread across a range of industries and roles. 86.9% of the working population are employed in professional or administrative positions, while 13.1% are in hands-on or service-based jobs. Also, 12% run their own businesses, 66.9% are employed by private companies, and 13.1% work in the public sector.

Workforce demographics

Working population
2,453
6.1% year-over-year change
White collar
2,131
Blue collar
322
Value Percent YoY change
White collar 2,131 86.9% 4.8%
Blue collar 322 13.1% 15.4%
Employer type
Self employees
12%
Private companies
66.9%
Governmental workers
13.1%
Not for profit companies
8%
Value Percent YoY change
Self employees 295 12% 18.0%
Private companies 1,640 66.9% 5.7%
Governmental workers 321 13.1% -7.0%
Not for profit companies 197 8% 19.4%
Unemployment rate
1.4%
20.7% year-over-year change

Available workforce

The unemployment rate in Lakewood stands at 1.4%, representing the share of the workforce currently without a job and actively looking for one.

For renters, the unemployment rate helps paint a picture of job security and financial stability in the area. Rates around 4% to 5% are considered typical. A lower-than-average rate might suggest strong job prospects and a thriving local economy, while a higher rate could hint at fewer opportunities—both useful to consider when planning a move.

Transportation in Lakewood

How people get around in Lakewood

Means of transportation
Value Percent YoY change
Car 1,673 95.2% 6.3%
Bus or trolleybus 53 3% -5.4%
Railroad 32 1.8% -25.6%
Understanding how locals get to work can help you plan your own routine. High car usage might mean you’ll need a vehicle, while strong public transit or walkability could save you the hassle. Commute times also play a big role in quality of life—shorter trips can give you more time for the things you enjoy.

What is the median and average household income in Lakewood by zipcode?

Zipcode Population Number of households Median income Average income
62438 238 130 $71,786 $79,862

Explore more communities

FAQs about Lakewood demographics 

What is the total population of Lakewood?

Lakewood has a total population of 4,723 residents, according to the latest release from the U.S. Census Bureau: the 2019-2023 American Community Survey (ACS) 5-year estimates. This figure changed by +0.1% compared to a year ago.

What is the gender ratio in Lakewood?

The gender ratio in Lakewood is as follows:
  • 51.8% males (2,446 residents)
  • 48.2% females (2,277 residents)

What is the median age in Lakewood?

The median age in Lakewood is 42.9.

What is the age distribution of the population in Lakewood?

The age distribution in Lakewood is as follows:
  • Under 15: 21.1% (998 residents)
  • Ages 15-24: 14.5% (684 residents)
  • Ages 25-44: 17.3% (815 residents)
  • Ages 45-64: 35% (1,651 residents)
  • Over 65: 12.2% (575 residents)

What is the racial and ethnic makeup of Lakewood?

The racial and ethnic makeup of Lakewood is as follows:
  • White: 85.4% (4,034 residents)
  • Black or African American: 0.6% (26 residents)
  • American Indian and Alaska Native: 0.7% (34 residents)
  • Asian: 4.8% (227 residents)
  • Native Hawaiian and Other Pacific Islander: 0% ( residents)
  • Two or More Races: 7.1% (334 residents)
  • Other: 1.4% (68 residents)

What percentage of the population in Lakewood are U.S.-born citizens?

U.S.-born citizens represent 86.1% of the population in Lakewood.

How many housing units are there in Lakewood?

There are 1,657 housing units in Lakewood, reflecting a +6.0% change compared to the previous year, according to the latest data from the U.S. Census Bureau.

How many households are in Lakewood and what is the average household size?

Lakewood has a total of 1,601 households, with an average of 3 people in each.

What is the median household income in Lakewood?

Lakewood has a median household income of $173,625, representing a -6.5% shift from the previous year, according to the U.S. Census Bureau.

What is the employment rate and job market overview for Lakewood?

The employment rate is 98.6% in Lakewood, with a workforce of 2,453 residents. Here’s a detailed breakdown of the local job market:

Job types:
  • White-collar workers: 86.9% (2,131 residents)
  • Blue-collar workers: 13.1% (322 residents)

Places of employment:
  • Self-employed: 12% (295 residents)
  • Private companies: 66.9% (1,640 residents)
  • Governmental workers: 13.1% (321 residents)
  • Not-for-profit companies: 8% (197 residents)

Data source & methodology

The demographic data on this page was sourced from the latest U.S. Census Bureau release—the 2019–2023 American Community Survey (ACS) 5-year estimates.

The information, issued annually, is compiled and published by the Point2Homes Research Team as soon as new data becomes available.

No representation, guarantee, or warranty is made concerning the accuracy or completeness of modified or aggregated information for particular areas.

Page last updated: September 2025