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Lakewood, Ohio

city · Cuyahoga County (primary) , Franklin County

At a glance

50,007
Population
$262,200
Median home value (all homes)
14% below U.S. median
$297,929
Typical market value
Zillow, 2026-07
$1,070/mo
Median rent
21% below U.S. median
$68,954
Median household income
12% below U.S. median
22.8 min
Average commute
92.3%
Homes with broadband
67.91%
Locations with fiber available
5%
Unemployment

Cost of living (Clay Affordability Index)

CAI 95 — 5% below the national average. how it's computed

Housing4% above
Goods & services4% below
Utilities22% below
Taxes13% below
Insurance36% below
Commute cost16% below
For business: Ohio is CBII band 3/5 · time to build band 2/5. See state page for the breakdown.

Living here

Colleges in town:
Nearest 4-year college1 mi
Nearest community college6 mi
Nearest technical college5 mi
High school graduates95.7%
College graduates55.3%

Doing business here

Economic development contacts, most local first:

city Cleveland-Cuyahoga County Port Authority
The Port of Cleveland drives economic growth, global connectivity, and sustainability through efficient shipping, innovative financing, and eco-friendly initiatives. It is the only local government agency whose sole mission is to spur job creation and economic vitality in Cuyahoga County.
city Lakewood
Lakewood’s economy is large, diverse, and local, primarily made up of agile and thriving small businesses. Small businesses employ 75% of the 12,000 workers in Lakewood, ranging from restaurants and breweries to professional services firms.
region Team NEO
state Copley
Copley Township's Community & Economic Development Department strives to foster sound economic development objectives and attract new businesses, with a focus on retaining small businesses and expanding the tax base. The page notes incentives may be available through JobsOhio and NOPEC, and highlights the BRE program and related initiatives.
state Duchouquet
state Falls
Olmsted Falls is a vibrant, business-friendly community where historic charm meets modern opportunity. The Economic Development Department is committed to supporting business growth, attracting new investment, and strengthening the local economy, providing responsive, personalized assistance to help you launch a new venture, expand an existing business, or relocate.
state First Energy Corp
FirstEnergy Corp is a parent company of several electric utilities, including Ohio Edison, The Illuminating Company, Toledo Edison, Met-Ed, Penelec, Penn Power, West Penn Power, Jersey Central Power & Light, Mon Power, and Potomac Edison, serving customers across Ohio, New Jersey, Maryland, Pennsylvania, West Virginia, and beyond.
state JobsOhio
Discover funding opportunities that support business growth, innovation, and community development through available loans, grants, and tax incentive programs. The site also highlights incentives, site selection resources, and workforce initiatives in Ohio.
state Lemon
state Monclova
state Ohio Department of Development
Empowering communities to succeed. The Ohio Department of Development aims to help Ohio businesses, communities, and individuals thrive. Its programs include Strategic Investment, Minority Business Development, Community Services, Governor’s Office of Appalachia, TourismOhio, and Research.
state Ohio's Electric Cooperatives
Ohio's Electric Cooperatives (OEC) provides economic development, engineering services, load management assistance, and marketing for its 24 member cooperatives in addition to providing reliable, affordable, and responsibly produced power generation and transmission. Our economic development team provides personalized, confidential economic development and site selection services for the territories served by its member cooperatives in 77 of Ohio's 88 counties.
state Pleasant
state Prairie
The Prairie Township government manages a Joint Economic Development District (JEDD) and Joint Economic Development Zone (JEDZ) to support economic development initiatives and services in the township, funded by an earnings tax on wages of workers within the zone.
state Symmes
Symmes Township's Economic Development program supports commercial development and incentives (tax abatements) for properties within the Community Reinvestment Area, in partnership with Alloy Development and Hamilton County.
state Turtlecreek
state Upper
State sales taxYes
State income taxYes
Right-to-work stateNo

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