The housing market in Lakewood, IL is robust and stable. The median house value in Lakewood is $467,200 compared to the US House Median Value of $338,100. This shows that the area has a higher than average property value. Furthermore, the US 1 year House Appreciation rate is 8.27%, while in Lakewood it is 8.83%. This indicates that home prices have been increasing faster in Lakewood than elsewhere in the US, making it an attractive investment for potential homeowners.
The median home cost in Lakewood is $467,200. Home appreciation the last 10 years has been 54.6%. Home Appreciation in Lakewood is up 14.5%.
Average Age of Homes
- The median age of Lakewood real estate is 21 years old
The Rental Market in Lakewood
- Renters make up 4.6% of the Lakewood population
- 0.0% of houses and apartments in Lakewood, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.