Quick facts: Lakewood, CO

Quick Facts

110.3
Cost of Living
above US average
156,120
Population
55.26
Crime Rate per 1000
above US average
$82,786
Median Income
above US average
$600,000
Median House Price
above US average
$1558.99
Average Rent
above US average
9%
Poverty Rate
below US average
4.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $82,786.

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Income Needed to Buy

βœ— Stretch
$188k/year
Based on $600,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $188k vs median $82,786
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Income Needed to Rent

βœ“ Affordable
$67k/year
Based on $1558.99/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($82,786) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lakewood, CO

Lakewood, Colorado, is a vibrant suburb located just west of Denver, characterized by its beautiful parks, diverse community, and convenient access to outdoor recreation. With a population of over 150,000, it boasts a mix of residential areas, shopping, and cultural attractions. Lakewood is known for its natural beauty, with numerous parks such as Bear Creek Lake Park and William Frederick Hayden Park offering hiking, biking, and fishing opportunities. The city also features scenic views of the foothills and access to the Rocky Mountain region. The area has a strong economy with a mix of retail, healthcare, and service industries. The nearby Denver metropolis provides additional job opportunities and cultural experiences, including theaters, museums, and a lively nightlife. Lakewood is also home to a variety of dining options, local breweries, and shopping centers that cater to diverse tastes. The community hosts several events throughout the year, fostering a strong sense of local pride and engagement among residents. Overall, Lakewood combines suburban charm with urban conveniences, making it an attractive destination for families and individuals alike.

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