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Lakewood real estate market overview
- Average Monthly Rent: $1,852
- Home Price/Value Percentage Change: -1.50%
- Median Home Value: $571,677
- Best Time To Sell a Home: July
- Affordability Index: Low
- Days To Sell a House: 42
- Job Market: Fair
- Public School Ranking: 24
Location and weather
Lakewood is a city less than 8 miles west of Denver. It is home to the Denver Federal Center, a 623-acre campus that houses many agencies of the US government and employs 8,000 workers. It has the urban benefits of being close to the large city of Denver but maintains a suburban feel. Many young professionals live in Lakewood, and the schools are known to be highly rated. Four parks nearby include the Kendrick Lake Park, Bear Creek Lake Park, William F. Hayden Green Mountain Park and Crown Hill Park.
The climate and terrain make Lakewood the perfect place for outdoor recreation. Lakewood has warm summers and cold, dry winters. Summer temperatures are in the 80's, with lows in the 60's. The winter temperatures are in the high 40's, with lows in the 20's.
Population, job market and cost of living
The population of Lakewood in 2023 is 159,884, with a growth rate of 0.82%.
The job growth has decreased by -4.86% and in ten years, is predicted to have increased by 44.11%. The largest industries of Lakewood include federal agencies, state and local government, education, healthcare, mining/oil and gas/energy related industries, medical device Manufacturing, renewable energy, financial services, IT/software, advertising and marketing.
The cost of living is high, due to the real estate market and pricing of available housing. With its scenic location, many outdoor parks, a growing job market and diverse industry base, Lakewood will continue to attract young professionals as it maintains its growth.
Lakewood real estate market details
- Ward 4 Coalition
- Green Acres
- Bear Creek
- Applewood Valley
- Green Mountain Village
The average monthly rent in Lakewood is $1,852 for an average apartment size of 875 sq. feet.
There has been an -1.5% decrease in median home value over the last year. As of 2023, the median home value is $571,677.
On average, homes in Lakewood sell after 42 days on the market.
The best time to sell a home for the highest valued sale is during February. For the quickest sale, homeowners should sell in May.
The affordability index in Lakewood is 130. This number indicates low affordability in this city.
The top ranked public schools are Dennison Elementary School, Rooney Ranch Elementary School, Devinny Elementary School, Kyffin Elementary School and Governor's Ranch Elementary School. This information is based on data measuring academic performance and equity.