Lakewood, OH

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Lakewood short-term rental market based on reliable data.

Listings

272 / 513

Reliable / Active

Cap Rate

8%

Middle-Earners Gross Yield

Revenue

$22,932

Middle-Earners Revenue

Occupancy

59%

Middle-Earners Occupancy

Home Value

$299,965

Median Home Sale Price

Top Earners

$43,195

Top-Earners Revenue

Lakewood

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Lakewood.

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B

Generally Investor friendly

Lakewood Regulations

Lakewood maintains a regulatory gray area with STRs technically allowed but no finalized ordinance, requiring investors to comply with state lodging laws, fire codes, and county taxes while awaiting city rules. The proposed framework involves moderate annual permitting with safety inspections and standard compliance requirements, indicating manageable rather than prohibitive restrictions. The city's stakeholder-focused approach and deferral for further input suggests an investor-friendly tone rather than hostile enforcement.

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About Lakewood

Lakewood is a city in Cuyahoga County, Ohio, situated on the southern shore of Lake Erie just west of Cleveland. With a population of approximately 52,000 residents packed into roughly six square miles, it is one of the most densely populated suburbs in the state and has a distinctly urban feel for a place outside Cleveland's city limits. Known for its walkable streets, vintage housing stock, and bustling Detroit Avenue corridor, Lakewood carries the character of an old streetcar suburb that has retained its independent identity even as the Cleveland metro area has grown around it. The city serves as a convenient base for visitors exploring greater Cleveland, sitting only about five miles west of downtown Cleveland and roughly twenty minutes by car from Cleveland Hopkins International Airport.

A major draw for visitors is the city's lakefront, anchored by Lakewood Park, which stretches along Lake Erie and offers a beach, swimming area, picnic shelters, and a historic lakefront pavilion. The park provides a quieter, more residential alternative to the busier Cleveland lakefront, and the broad western views across the lake are a particular highlight at sunset. Just east of the city, Edgewater Park, part of the Cleveland Metroparks system, brings together a wide sandy beach, a fishing pier, and bluff-top trails that look out over the lake and the Cleveland skyline, making it one of the most popular outdoor spots on the city's west side.

Immediately west and south of Lakewood, the Rocky River Reservation of the Cleveland Metroparks offers miles of forested trails, the Rocky River valley, and access points for kayaking and fishing. The reservation connects Lakewood residents and visitors to a substantial green corridor that runs through the western suburbs and ties into the larger Emerald Necklace of parklands encircling Cleveland.

For visitors wanting big-city amenities, downtown Cleveland is a short drive east and concentrates the region's marquee cultural attractions, including the Rock and Roll Hall of Fame, the Cleveland Museum of Art in Wade Park, and the theaters and sports venues of the Gateway District. Lakewood's location makes it easy to pair a day of museums, concerts, or Indians and Cavaliers games with an evening back in a quieter, more residential setting.

Lakewood makes a compelling base for short-term rentals because it combines genuine small-city character with immediate access to Cleveland's largest attractions. Visitors get a walkable neighborhood full of independent restaurants, coffee shops, and bars along Detroit Avenue, the natural beauty of Lake Erie and the Rocky River valley, and a quick drive into the heart of the city, all in a single stay.

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