Quick facts: Lakewood, NY

Quick Facts

113.7
Cost of Living
above US average
2,972
Population
100.61
Crime Rate per 1000
above US average
$68,631
Median Income
below US average
$265,000
Median House Price
above US average
$2943
Average Rent
above US average
9%
Poverty Rate
below US average
4.0%
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 $68,631.

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Income Needed to Buy

βœ— Stretch
$83k/year
Based on $265,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $83k vs median $68,631
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Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $68,631
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lakewood, NY

Lakewood, NY is a charming village located in Chautauqua County, nestled on the southern shore of Chautauqua Lake. This scenic area is known for its picturesque landscapes and vibrant community. With a population of around 1,500 residents, Lakewood offers a small-town feel while providing numerous amenities. The village is rich in recreational opportunities, including boating, fishing, and hiking, making it a popular destination for outdoor enthusiasts. The nearby Chautauqua Lake is perfect for water sports during warmer months, while winter brings opportunities for ice fishing and snowmobiling. Lakewood features a variety of local shops, eateries, and parks, contributing to its community-centered atmosphere. The annual events, such as parades and festivals, foster a strong sense of belonging among residents. The area is also home to quality schools, making it attractive for families. Overall, Lakewood, NY, is a picturesque and welcoming environment, ideal for those seeking a peaceful lifestyle amidst natural beauty and community spirit.

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