Market Overview
Home Prices in Lakewood, NY
The median home value in Lakewood, NY is $240,243 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.1% compared to a year ago and up 3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lakewood are priced41% below average. Lakewood is part of the Jamestown-Dunkirk-Fredonia, NY metro area.
Over the past five years, Lakewood home values have risen by approximately46.3%, reflecting strong long-term appreciation in this market.
Price History
Lakewood Home Price Trend
City Comparison
Lakewood vs. National Median
At $240,243, homes in Lakewood cost 41% below the national median of $410,000. This makes Lakewood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lakewood?
20% Down Payment
$48,049
on $240,243
Monthly P&I
$1,253/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,591/mo
incl. taxes & insurance
Income Needed
$63,640
gross annual (30% rule)
10% Down Option
$24,024
+ PMI applies
Loan Amount (20% dn)
$192,194
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lakewood, NY?
The median home value in Lakewood is $240,243 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.1% year-over-year.
How much have home prices changed in Lakewood?
Over the past year, home values in Lakewood have increased by 7.1%. Over five years, prices have risen approximately 46.3%.
How much do I need to earn to buy a home in Lakewood?
To comfortably afford the median home price of $240,243 with a 20% down payment ($48,049) at today's rates (6.8%), you'd need a gross annual income of approximately $63,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Lakewood compare to the national average home price?
The national median home value is approximately $410,000. At $240,243, homes in Lakewood are 41% below the national average.
What metro area is Lakewood part of?
Lakewood is part of the Jamestown-Dunkirk-Fredonia, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.