salaryRent is higher than in 54% of U.S. cities. A typical house costs about 11.6 years of household income, so buying is hard for most locals. Most households rent (61%), so there are plenty of rental options.
How much money do I need?
To rent here comfortably, you should earn about $69,480 a year. That is $33 an hour at a full-time job.
Is rent cheaper than other New Jersey cities?
Yes. Rent here is cheaper than in most of New Jersey. It is number 48 of 291 cities from cheapest to most expensive.
How much do households earn in Lakewood?
Share of households by yearly income. 23.9% of households earn $100,000 or more.
Rent by apartment size in Lakewood
| Size | Lakewood | U.S. average |
|---|---|---|
| Studio | $1,744 | $1,338 |
| 1 bedroom | $1,170 | $1,324 |
| 2 bedrooms | $1,843 | $1,509 |
| 3 bedrooms | $2,037 | $1,698 |
| 4 bedrooms | $2,445 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lakewood overall?
Everyday prices in the New York-Newark-Jersey City metro area are 13% above the U.S. average (index 112.6, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Lakewood
Life in Lakewood
What jobs pay in Lakewood
| Job | Median pay | Rent / pay |
|---|---|---|
| Lawyer | $208,880 | 10.0% |
| Physician Assistant | $167,650 | 12.4% |
| Software Developer | $166,830 | 12.5% |
| Nurse Practitioner | $163,340 | 12.8% |
| Operations Manager | $157,000 | 13.3% |
| Pharmacist | $141,320 | 14.7% |
| Computer Systems Analyst | $128,340 | 16.2% |
| Registered Nurse | $119,720 | 17.4% |
| Dental Hygienist | $109,720 | 19.0% |
| Civil Engineer | $107,330 | 19.4% |
| Firefighter | $106,420 | 19.6% |
| Accountant | $105,650 | 19.7% |
| Police Officer | $105,540 | 19.7% |
| Market Research Analyst | $100,520 | 20.7% |
| Elementary School Teacher | $96,900 | 21.5% |
| Electrician | $79,020 | 26.4% |
| Plumber | $78,610 | 26.5% |
| HVAC Technician | $77,990 | 26.7% |
| Licensed Practical Nurse | $75,910 | 27.5% |
| Carpenter | $74,300 | 28.1% |
| Truck Driver | $65,040 | 32.0% |
| Customer Service Representative | $49,590 | 42.0% |
| Nursing Assistant | $49,270 | 42.3% |
| Medical Assistant | $48,370 | 43.1% |
| Server (Waiter/Waitress) | $47,610 | 43.8% |
| Restaurant Cook | $43,740 | 47.7% |
| Warehouse Worker | $43,290 | 48.1% |
| Retail Salesperson | $38,280 | 54.5% |
| Cashier | $35,950 | 58.0% |
Is it cheaper to rent or buy in Lakewood?
Renting is cheaper right now: about $3,228 a month less.
Owning assumes a typical $715,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $71,550 for the down payment.
Frequently asked questions
What is the average rent in Lakewood, NJ?
Renting in Lakewood costs a median of about $1,737 a month in 2026, including utilities. The New Jersey median is $2,240.
How much do I need to make to live in Lakewood?
To keep rent under 30% of income, you need about $69,480 a year, or $33 an hour at a full-time job.
Is Lakewood cheap or expensive?
Lakewood is rated Expensive: rent takes 33.9% of the typical household income of $61,440. It ranks 48th cheapest of 291 New Jersey cities we track.
How much are property taxes in Lakewood?
The median homeowner in Lakewood pays $10,000+ a year in property taxes, about 1.40% of the median home value.
Is Lakewood more expensive than the national average?
Overall prices in the metro area are 13% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Lakewood?
The median home value in Lakewood is $715,500, about 11.6 times the typical yearly household income.
69,585 people live in Lakewood. Numbers are typical (middle) values.