Lakewood, NY
Population 2,975 · New York
About Lakewood, NY
Lakewood is a small town located in New York with a population of 2,975 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,962 per year, which is 6% below the national median of $75,149. The median age of 44.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lakewood features a median home value of $146,300, which is 40% below the national median of $244,900. This makes Lakewood one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,132, 3% below the national average of $1,163/month. Of the 1,610 total housing units, 65% are owner-occupied (820 units) and 35% are renter-occupied (440 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Lakewood shows an unemployment rate of 7.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 10.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lakewood have an average one-way commute time of 19 minutes, one of the shorter commutes in the region.
Education & Demographics
37.6% of Lakewood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 6.8% White, 0.0% Hispanic or Latino, 0.6% Black or African American, and 1.1% Asian residents, with 2.4% of the population being foreign-born.
Cost of Living in Lakewood, NY
Compared to national averages, Lakewood has a median household income of $70,962 (6% below the national median of $75,149). Home values average $146,300, which is 40% below the national median. Monthly rent at $1,132 is 3% below the US average of $1,163. Within New York, Lakewood's income is 27% below the state average of $96,987, and home values are 62% below the state median of $387,181.
Why Live in Lakewood, NY?
Lakewood offers affordable housing with a median home value of $146,300, below the US average of $244,900, and rent that’s lower than the national average at $1,132/month, and a well-educated community where 37.6% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 10.0%, better than the national average, and short commute times averaging just 19 minutes.
Potential considerations include median household income ($70,962) that falls below the national average. However, Lakewood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lakewood has a population of 2,975 with a median age of 44.9 years. Compare Lakewood with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Lakewood
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Valhalla | 2,978 | $125,135 | $696,200 | Compare |
| Great Neck Estates | 2,968 | $211,875 | $1,670,600 | Compare |
| Green Island | 2,966 | $70,281 | $137,300 | Compare |
| New York Mills | 2,989 | $55,682 | $163,000 | Compare |
| Roslyn | 2,955 | $123,725 | $623,800 | Compare |
| Lake Delta | 3,005 | $97,917 | $224,200 | Compare |
| Brookville | 2,944 | $250,001 | $2,000,001 | Compare |
| Westfield | 2,937 | $43,385 | $91,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lakewood
What is the population of Lakewood, NY?
The population of Lakewood, NY is 2,975 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Lakewood?
The median household income in Lakewood, NY is $70,962 per year, which is 6% below the national median of $75,149.
What is the median home value in Lakewood?
The median home value in Lakewood, NY is $146,300, which is 40% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lakewood?
The median monthly rent in Lakewood, NY is $1,132, which is 3% below the national average of $1,163/month.
What is the unemployment rate in Lakewood?
The unemployment rate in Lakewood, NY is 7.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lakewood, NY a good place to live?
Lakewood offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,975 and a median age of 44.9, the city appeals to a broad range of residents.
How educated is Lakewood, NY?
37.6% of residents in Lakewood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lakewood?
Key cost-of-living indicators for Lakewood, NY: median home value is $146,300 (40% below national), median rent is $1,132/month, and median household income is $70,962. The home-value-to-income ratio is 2.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lakewood?
The poverty rate in Lakewood, NY is 10.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lakewood, NY?
Lakewood's population is 6.8% White, 0.0% Hispanic or Latino, 0.6% Black or African American, 1.1% Asian, and 0.6% two or more races. 2.4% of residents are foreign-born.