Quick facts: Lakewood, NJ

Quick Facts

112.9
Cost of Living
above US average
68,555
Population
27.57
Crime Rate per 1000
above US average
$54,826
Median Income
below US average
$429,000
Median House Price
above US average
$2059.64
Average Rent
above US average
6%
Poverty Rate
below US average
3.7%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $54,826.

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Income Needed to Buy

βœ— Stretch
$135k/year
Based on $429,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $135k vs median $54,826
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Income Needed to Rent

⚠ Stretch
$88k/year
Based on $2059.64/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $88k vs median $54,826
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lakewood, NJ

Lakewood, New Jersey, is a vibrant township located in Ocean County, known for its diverse community and rich cultural heritage. With a population of approximately 100,000, Lakewood has experienced significant growth over the years, becoming a hub for various ethnic groups, particularly the Orthodox Jewish community. This influence is reflected in the town's establishments, including numerous synagogues, schools, and kosher businesses. Lakewood's landscape is characterized by a mix of residential neighborhoods, parks, and commercial areas. The town offers a variety of recreational opportunities, including the picturesque Lakewood Township's parks, such as the popular Lakewood Park and various sports complexes. The nearby Lakewood BlueClaws, a Minor League Baseball team, adds to the community's sports culture. Education is a priority in Lakewood, with a range of public and private schools serving the area, including Yeshivas that cater to the local Orthodox community. Additionally, the township is conveniently located near major highways, providing easy access to New York City and Philadelphia, making it an attractive location for commuters. Overall, Lakewood is a unique blend of tradition and modernity, offering a welcoming atmosphere for its residents.

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