Lakewood, Ohio Property Values

How much is your Lakewood, Ohio residential real estate worth?

Our Ohio licensed residential appraisers live, work and play in your communities.  Our knowledge of the Lakewood, Ohio community comes not only from our combined 35 years of experience as licensed real estate appraisers but also from spending time with friends and family in many of Lakewood’s neighborhoods as well as frequenting their shops, restaurants and business community.  This real-life experience leaves us better equipped to deliver thorough, accurate home appraisals for our Lakewood property owners. To read additional details about factors impacting your home’s value, see our Property Values in Cleveland Area Communities page.

Lakewood, Ohio

Lakewood is part of the Greater Cleveland Metropolitan Area, and borders the city of Cleveland. The population was 52,131 at the 2010 United States Census, making it the third largest city in Cuyahoga County, behind Cleveland (396,815) and Parma (81,601).  Lakewood is made up 52.4% owner-occupied housing units while the other 47.6% of homes are non-owner occupied.  Lakewood's population density is the highest of any city in Ohio and is roughly comparable to that of Washington, DC.

Lakewood's nickname "City of Beautiful Homes" is due to the fact the city was intentionally designed in the early 1900s with a lack of industry and an emphasis on a diverse variety of residential housing structures including many large Tudors mainly near the lakeshore, and multi-family and smaller single family homes in many other sections of the city.

Being familiar with Lakewood’s multiple neighborhoods is very important when deriving at the appraised value of a Lakewood home.  For example, a home in a neighborhood that is in high demand and short supply typically has a higher value than the identical home in a neighborhood that is less desirable, in lower demand and has a higher supply.  Lakewood’s notable neighborhoods include

  • Birdtown - Southeastern corner of Lakewood, a well-known 8-street residential district on the southeast side of the city that was built specifically for the workers of the nearby Union Carbide company in the 1890s. The houses are distinctive and most of the streets are named after birds. 
  • Clifton Boulevard - Lined with big trees and multi-family homes, apartment complexes, and 4×4 brick structures, the 7-lane Clifton Boulevard is one of the busiest streets in Lakewood.
  • Clifton Park - The wealthiest neighborhood of Lakewood is situated in the northwestern corner of the city, and consists mostly of magnificent Victorian mansions. Bounded by Sloane on the south, West Clifton on the east, The Rocky River on the west, and Lake Erie on the north. Built in the late 19th century, this area has been historically and continues to be the home to many of greater Cleveland's most prominent citizens. Includes the private Clifton Beach community.
  • Downtown Lakewood - The main section of Lakewood is centered at Detroit Avenue and Warren Road. The area is lined with office buildings, restaurants, and a variety of shops. The Lakewood Library, the post office, Lakewood Hospital, and Lakewood City Schools are all located in this district.
  • The Edge - easternmost neighborhood includes many concert venues, pubs, and taverns and co-exists partially in the city of Cleveland.
  • Victorian Village - large Victorian homes on Grace, Clarence and Cohassett Avenues on the city's east end.
  • The Gold Coast - Visible from downtown Cleveland, the Gold Coast consists of many highrise condo and apartment towers directly along the coasts of Lake Erie. The Gold Coast runs specifically along Edgewater Drive and Lake Avenue. It is bordered on the west by Gold Coast Lane and on the east along W. 117th St. Some consider Clifton Boulevard also to be a part of the Gold Coast. The majority of the neighborhood revolves around dense low-rise residential complexes on the southern side with the newer and taller buildings on the northern side.
  • Rockport Square - an urban renewal project along Detroit Ave. on the eastern side of the city.
  • West End - the westernmost neighborhood of Lakewood, along the Rocky River Reservation.

Lakewood Ranked in Cleveland Top 20 Best Bargains

For those of you looking to buy in Lakewood, Cleveland Magazine ranked Lakewood, Ohio 11th in its Best Bargains as a result of some of these following statistics:

  • Number of home sales (2014): 501
  • Median home sale price (2014): $134,000
  • 5 year home sale price increase: 9.84%
  • Roads with sidewalks: 100%
  • Population: 51,143
  • Education Rank: 36th out of 77
  • Community Services: 14 offered from a list of 15