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11 Apartments under 500 for rent in Lakewood, OH

Last updated September 20 at 5:41pm UTC
15644 Madison Ave
Lakewood
Lakewood, OH
Updated September 20 at 5:33pm UTC
Studio
$450
Results within 1 miles of Lakewood, OH
1383 W 114th St
Edgewater
Cleveland, OH
Updated August 24 at 2:42am UTC
Studio
$495
Results within 5 miles of Lakewood, OH
4183 W 130th St
Puritas - Longmead
Cleveland, OH
Updated September 20 at 5:41pm UTC
1 Bedroom
$450
4000 Bush Ave
Clark - Fulton
Cleveland, OH
Updated September 15 at 6:13pm UTC
2 Bedrooms
$475
3168 W. 86th St.
West Boulevard
Cleveland, OH
Updated September 14 at 10:30am UTC
Studio
$100
3146 W 68th St.
Stockyards
Cleveland, OH
Updated September 14 at 10:29am UTC
Studio
$100
3251 W 58th St.
Stockyards
Cleveland, OH
Updated September 1 at 9:58am UTC
Studio
$100
11825 Longmead Ave
Puritas - Longmead
Cleveland, OH
Updated July 25 at 3:15am UTC
2 Bedrooms
$495
Results within 10 miles of Lakewood, OH
1150 East 74th St
St. Clair - Superior
Cleveland, OH
Updated September 16 at 1:24am UTC
5 Bedrooms
$450
4149 E 71st St
South Broadway
Cleveland, OH
Updated August 24 at 2:39am UTC
1 Bedroom
$450
4714 Jewett Avenue
Industrial Valley
Cleveland, OH
Updated August 7 at 10:12am UTC
Studio
$100

September 2018 Lakewood Rent Report

Welcome to the September 2018 Lakewood Rent Report. Lakewood rents declined over the past month. In this report, we'll evaluate trends in the Lakewood rental market, including comparisons to cities throughout the state and nation.

View full Lakewood Rent Report
Rent Report
Lakewood

September 2018 Lakewood Rent Report

Welcome to the September 2018 Lakewood Rent Report. Lakewood rents declined over the past month. In this report, we'll evaluate trends in the Lakewood rental market, including comparisons to cities throughout the state and nation.

Lakewood rents declined moderately over the past month

Lakewood rents have declined 0.3% over the past month, but have increased slightly by 1.8% in comparison to the same time last year. Currently, median rents in Lakewood stand at $670 for a one-bedroom apartment and $830 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in June. Lakewood's year-over-year rent growth leads the state average of 0.6%, as well as the national average of 1.0%.

Rents rising across cities in Ohio

Throughout the past year, rent increases have been occurring not just in the city of Lakewood, but across the entire state. Of the largest 10 cities that we have data for in Ohio, 8 of them have seen prices rise. The state as a whole logged rent growth of 0.6% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Dublin is the most expensive of all Ohio's major cities, with a median two-bedroom rent of $1,140; of the 10 largest cities in the state that we have data for, Dublin, is the only major city to see rents fall year-over-year (-0.1%).
  • Fairfield, Lakewood, and Toledo have all experienced year-over-year growth above the state average (3.6%, 1.8%, and 1.4%, respectively).

Lakewood rents more affordable than many large cities nationwide

As rents have increased slightly in Lakewood, large cities nationwide have seen rents grow more quickly. Lakewood is still more affordable than most large cities across the country.

  • Lakewood's median two-bedroom rent of $830 is below the national average of $1,180. Nationwide, rents have grown by 1.0% over the past year compared to the 1.8% increase in Lakewood.
  • While Lakewood's rents rose slightly over the past year, some cities nationwide saw decreases, including Seattle (-2.4%) and Minneapolis (-0.5%).
  • Renters will find more reasonable prices in Lakewood than most large cities. For example, San Francisco has a median 2BR rent of $3,100, which is more than three-and-a-half times the price in Lakewood.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.