Edgewater, Lakewood, OH—44107
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Edgewater, Lakewood, OH
As of Oct '25, the median home price in Edgewater, Lakewood, OH is $280,000, with a year-over-year change of 3.4%. This indicates that home prices in Edgewater, Lakewood, OH are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $280,000 | 3.4% |
| Single Family | $304,000 | 3.8% |
| Condos | $120,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $99,000 | 2.1% |
2 Bed | $202,000 | 2.5% |
3 Bed | $285,000 | 3.6% |
4 Bed | $358,000 | 4.4% |
| 5 Bed | $492,000 | 5.4% |
% of Housing Stock
Rental Trends — Edgewater, Lakewood, OH
As of July '25, Rentcast reports the average rent in Edgewater, Lakewood, OH is $1,410, with a year-over-year rent change of 7.6%. Per bedroom, the median rent as of July '25 in Edgewater, Lakewood, OH is studios: $846, 1-bedrooms: $1,040, 2-bedrooms: $1,510, 3-bedrooms: $1,910, 4-bedrooms: $2,120. The most common rental property sizes in Edgewater, Lakewood, OH are 1-bedroom and 2-bedroom, accounting for 41.8% and 39.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,270 | $1,410 |
| Studio Rent | $785 | $846 |
| 1 Bed Rent | $950 | $1,040 |
| 2 Bed Rent | $1,400 | $1,510 |
| 3 Bed Rent | $1,840 | $1,910 |
| 4 Bed Rent | $2,000 | $2,120 |
% of Rental Stock
Property Listings — Edgewater, Lakewood, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Edgewater, Lakewood, OH is 43. 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $269,000 | -10.0% |
Listing Count | 132 | 1.0% |
| Listings as % of Homes | 0.3% | 1.0% |
Days on Market | 43 | 4.0% |
Demographics — Edgewater, Lakewood, OH
As of the latest ACS Survey released in 2023, Edgewater, Lakewood, OH has a population of 50,400, which has remained stable by -0.6% over the past 5 years. Edgewater, Lakewood, OH is a less popular place for families, as children make up 14.7% of the population. The area has a highly educated workforce, with 54.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 50,400 | -0.6% |
% Under 18 | 14.7% | -16.5% |
% Seniors | 15.0% | 21.0% |
% WFH | 18.9% | 339.5% |
% w/ College Degree | 54.0% | 18.7% |
As of the latest ACS Survey released in 2023, Edgewater, Lakewood, OH is a predominantly white area, with 83.2% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Edgewater, Lakewood, OH is black, making up 6.3% of the population. Foreign-born residents account for 8.2% of the population in Edgewater, Lakewood, OH, and this percentage has increased by 3.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.2% | -0.2% |
% Black | 6.3% | 5.0% |
% Hispanic | 4.5% | -19.6% |
% Asian | 2.4% | 41.2% |
% Foreign Born | 8.2% | 3.8% |
Mortgage and Risk — Edgewater, Lakewood, OH
According to HUD data as of 2023, there were 879 mortgage originations in Edgewater, Lakewood, OH, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Edgewater, Lakewood, OH. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 879 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Edgewater, Lakewood, OH
As of 2024, the percent of homes in Edgewater, Lakewood, OH under the Section 8 program is 5.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Edgewater, Lakewood, OH, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 753 |
Total Units Section 8 | 713 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 88.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $950 | $1,030 |
| 2 Bedroom | -$150 | $1,400 | $1,250 |
| 3 Bedroom | -$230 | $1,840 | $1,610 |
| 4 Bedroom | -$280 | $2,000 | $1,720 |
Affordability — Edgewater, Lakewood, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $280,000 |
| Median Household Income | $65,800 |