Lakewood, NJ—08701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lakewood, NJ
As of Oct '25, the median home price in Lakewood, NJ is $563,000, with a year-over-year change of 5.6%. This indicates that home prices in Lakewood, NJ are increasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $563,000 | 5.6% |
| Single Family | $734,000 | 6.7% |
| Condos | $256,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $153,000 | -1.9% |
2 Bed | $252,000 | -1.6% |
3 Bed | $635,000 | 6.4% |
4 Bed | $775,000 | 7.2% |
| 5 Bed | $1,059,000 | 5.6% |
% of Housing Stock
Rental Trends — Lakewood, NJ
As of July '25, Rentcast reports the average rent in Lakewood, NJ is $2,040, with a year-over-year rent change of -14.3%. Per bedroom, the median rent as of July '25 in Lakewood, NJ is 1-bedrooms: $1,650, 2-bedrooms: $2,050, 3-bedrooms: $3,470, 4-bedrooms: $2,700. The most common rental property sizes in Lakewood, NJ are 2-bedroom and 3-bedroom, accounting for 33.1% and 23.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,940 | $2,040 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,650 |
| 2 Bed Rent | $2,000 | $2,050 |
| 3 Bed Rent | $2,700 | $3,470 |
| 4 Bed Rent | $2,700 | $2,700 |
% of Rental Stock
Property Listings — Lakewood, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Lakewood, NJ is 49. This is a increase of 4.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $377,000 | -22.0% |
Listing Count | 257 | -6.0% |
| Listings as % of Homes | 0.9% | -6.0% |
Days on Market | 49 | 4.0% |
Demographics — Lakewood, NJ
As of the latest ACS Survey released in 2023, Lakewood, NJ has a population of 137,000, which has increased by 35.7% over the past 5 years. Lakewood, NJ is a popular place for families, as children make up 49.7% of the population. The area has a moderately educated workforce, with 32.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 137,000 | 35.7% |
% Under 18 | 49.7% | 4.0% |
% Seniors | 9.6% | -5.0% |
% WFH | 12.8% | 42.2% |
% w/ College Degree | 32.7% | 9.0% |
As of the latest ACS Survey released in 2023, Lakewood, NJ is a predominantly white area, with 84.0% of the population identifying as white. The white population has grown by 3.4% in the last 5 years. The second most common race or ethnicity in Lakewood, NJ is hispanic, making up 11.1% of the population. Foreign-born residents account for 8.4% of the population in Lakewood, NJ, and this percentage has decreased by 31.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.0% | 3.4% |
% Black | 2.0% | -42.9% |
% Hispanic | 11.1% | -21.3% |
% Asian | 0.8% | -20.0% |
% Foreign Born | 8.4% | -31.1% |
Mortgage and Risk — Lakewood, NJ
According to HUD data as of 2023, there were 929 mortgage originations in Lakewood, NJ, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Lakewood, NJ. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 929 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lakewood, NJ
As of 2024, the percent of homes in Lakewood, NJ under the Section 8 program is 17.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lakewood, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,700 |
Total Units Section 8 | 2,680 |
% Rentals under Section 8 | 17.6% |
% Occupied Section 8 | 97.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$220 | $1,600 | $1,380 |
| 2 Bedroom | -$300 | $2,000 | $1,700 |
| 3 Bedroom | -$440 | $2,700 | $2,260 |
| 4 Bedroom | -$180 | $2,700 | $2,520 |
Affordability — Lakewood, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7 |
| Median Home Price | $563,000 |
| Median Household Income | $62,800 |