Living in Lakewood, NY, presents a compelling option for those seeking an affordable lifestyle paired with a vibrant community spirit. The average home price of approximately $150,000 and competitive rental rates make housing accessible for families and individuals. Residents enjoy a low crime rate and quality local schools, contributing to a family-friendly environment. Recreational opportunities abound with nearby Chautauqua Lake for various outdoor activities. Although the cost of living is slightly above the national average, Lakewood's charm and community events improve overall quality of life, making it a desirable place to call home. There's much more to investigate about this unique town.
Pros of Living in Lakewood, NY
PROS OF LIVING IN LAKEWOOD, NY
1. AFFORDABLE HOUSING OPTIONS
Lakewood is known for its affordable housing market, making it an attractive option for families and individuals seeking financial stability. The average home price in Lakewood is approximately $150,000, notably lower than the national average, which hovers around $300,000.
This affordability allows residents the opportunity to invest in their homes without stretching their budgets too thin. Additionally, prospective buyers benefit from a consistent appreciation in property values, guaranteeing their investments remain solid over time.
2. STRONG COMMUNITY SPIRIT
Residents of Lakewood often cite a sense of belonging and community as a major benefit of living in the area. The town hosts various events and festivals throughout the year, like the Summer Concert Series and the Annual Arts and Crafts Festival, promoting togetherness and camaraderie among residents.
This close-knit atmosphere encourages neighborly connections and support, enhancing the complete quality of life for those who call Lakewood home.
3. FAMILY-FRIENDLY ENVIRONMENT
Lakewood is acknowledged for its low crime rate, making it a desirable place to raise families. With crime rates estimated at 1.2 per 1,000 residents, Lakewood is statistically safer than larger urban areas, providing parents with peace of mind when their children are playing outside or walking to school.
Additionally, the local school district boasts commendable ratings, and numerous parks and recreational areas guarantee that children have safe spaces to play and engage in outdoor activities.
4. ACCESS TO RECREATIONAL ACTIVITIES
Recreation is abundant in Lakewood, with an array of activities available to residents. The proximity to Chautauqua Lake allows for boating, fishing, and swimming during the warmer months, while the nearby Allegheny National Forest provides opportunities for hiking, camping, and winter sports like snowboarding and skiing.
There are also numerous community programs and sports leagues for children and adults, guaranteeing that residents have plenty of opportunities to stay active and engage with their surroundings.
5. VIBRANT JOB MARKET AND ECONOMY
Lakewood benefits from a diverse job market, with an unemployment rate of approximately 4.0%, which is slightly below the national average. The local economy is supported by various sectors, including retail, healthcare, education, and manufacturing.
Major employers in the area include the Jamestown Public Schools and local healthcare facilities, providing stable career options for residents. This robust economic environment bolsters the complete quality of life, allowing residents to find meaningful employment without having to commute long distances.
Cons of Living in Lakewood, NY
CONS OF LIVING IN LAKEWOOD, NY
1. HIGH COST OF LIVING
The cost of living in Lakewood considerably exceeds the national average, with a cost of living index reported at 110.8 compared to the national average of 100. This means that residents pay about 10% more to maintain a similar standard of living.
Housing is the most substantial contributor, with the average home price around $185,000, while the median rent for a two-bedroom apartment hovers around $1,200 per month. This price tag can strain the budgets of families and individuals, especially those on a fixed income or lower wages.
2. EXPENSIVE GROCERIES
The grocery costs in Lakewood are remarkably higher than the national average. A typical grocery cost index for the area can be estimated at 105, meaning that residents will spend approximately 5% more for their weekly shopping compared to the nationwide average.
Basic necessities such as milk, bread, and fresh produce are often priced at a premium, which can put additional financial pressure on low-income households trying to meet their nutritional needs.
3. RISING TAXES
While Lakewood offers various amenities, it is essential to acknowledge that the property taxes are a considerable burden. The average effective property tax rate is approximately 2.1%, which is higher than the national average of 1.1%.
For homeowners, this means paying an average of $3,885 in property taxes annually, making housing ownership less accessible for many families and placing a strain on their overall financial security amidst rising costs.
4. UTILITY EXPENSES
Living in Lakewood also comes with increased utility costs. Residents can expect to pay around $195 per month on average for basic utility services—including electricity, heating, cooling, water, and garbage.
This figure is notably higher than the national average of $150 per month. These utility costs can accumulate quickly, particularly during the harsh winters when heating bills can escalate, creating an additional burden for residents trying to manage their monthly budgets.
5. LIMITED JOB OPPORTUNITIES
Job opportunities in Lakewood can be a concern for many residents. The local economy is somewhat limited, with a higher reliance on seasonal and part-time work compared to full-time positions.
The average household income in Lakewood is around $45,000, which is below the national average income of approximately $67,000. This disparity creates affordability challenges, especially when families are trying to balance living expenses with a lower income level, leading to financial strain and stress.
Cost of Living in Lakewood, NY
COST OF LIVING IN LAKEWOOD, NY
Living in Lakewood, NY, presents a balance of affordability and accessibility, especially when compared to national averages. The median home price in Lakewood is approximately $150,000, which is notably lower than the national median, estimated at around $350,000. Rental prices in Lakewood generally range from $800 to $1,200 monthly, depending on the size and location of the unit, making it a more wallet-friendly option for those considering renting. Regarding groceries, prices are fairly reasonable with a typical monthly grocery bill for a family of four averaging around $800, which is consistent with the national average.
Utilities and transportation costs are similarly manageable in Lakewood. The average monthly utility bill, which includes electricity, heating, cooling, water, and garbage, typically ranges from $150 to $200, slightly lower than the national average of about $200. For transportation, residents can expect to pay an average of $2.50 per gallon of gasoline, comparable to the national average of $3.00. Altogether, Lakewood provides a financially attractive option for those looking for a small-town lifestyle while being close to more urban amenities in surrounding areas.
Cost of living in Lakewood, NY
| Category | Estimated Cost |
|---|---|
| Median Home Price | $150,000 |
| Average Rent | $800 – $1,200/month |
| Monthly Groceries | $800 |
| Utilities (Monthly) | $150 – $200 |
| Gasoline (per gallon) | $2.50 |
History of Lakewood, NY
HISTORY OF LAKEWOOD, NY
Lakewood, NY was founded in the early 19th century, specifically in 1881, when it was initially incorporated as a village. The region, nevertheless, has much deeper roots, with the surrounding area of Chautauqua County being settled by early pioneers in the 1790s.
The area gained prominence due to the establishment of the Chautauqua Institution in 1874, making it a cultural and educational hub that attracted notable figures like Mark Twain and John D. Rockefeller, who spent summers nearby.
Over the years, Lakewood evolved alongside its growing industrial base, particularly in lumber and manufacturing, which drew a larger population seeking employment opportunities. By the early 20th century, Lakewood saw considerable population growth, leading to the construction of distinctive landmarks such as the iconic Lakewood Memorial Library (established in 1904) and the development of charming residential districts.
Cultural influences, including the strong presence of the Methodist camp meeting movement, shaped local traditions and community life, nurturing events like the Lakewood Art Show and the popular Fourth of July celebrations.
Key events in its timeline include the incorporation of Lakewood in 1881, the arrival of the railroad in 1890, and the opening of the Lakewood Beach and neighboring parks in the 1950s.
These developments have solidified Lakewood's reputation as a vibrant community in the stunning terrain of Western New York.
Quality of Life and Weather in Lakewood, NY
QUALITY OF LIFE AND WEATHER IN LAKEWOOD, NY
Lakewood, NY, enjoys a comfortable climate defined by four distinct seasons, making it appealing to those who appreciate both scenic beauty and outdoor activities. The area typically experiences cold winters with average temperatures ranging from 20°F to 35°F and warm summers averaging between 60°F and 80°F, which encourages residents to embrace activities like hiking and fishing in the surrounding Chautauqua Lake region.
Air quality tends to be good, with residents often appreciating the clean environment and proximity to nature, particularly the expansive parks such as Russell E. Diethrick Jr. Park and other green spaces.
Although the risk of weather-related events like snowstorms is prevalent, severe weather concerns are generally low; hurricanes and wildfires are more of a concern in other regions.
Lakewood residents tend to value local healthcare services, which positively impact the comprehensive quality of life, and public opinion frequently highlights a strong sense of community and livability, making it an attractive place for families and retirees alike.
Education in Lakewood, NY
EDUCATION IN LAKEWOOD, NY
Lakewood, NY is served by the Jamestown City School District, which has a solid reputation, with district schools typically rated around 7 out of 10 by GreatSchools. Significant schools in the area include Jamestown High School and Mckinley Elementary School, which are both known for their strong academic programs.
While Lakewood does not have numerous private or charter schools, options are available within a 15-20 minute drive in nearby Jamestown. For higher education, Jamestown Community College provides accessible learning opportunities, and those seeking universities can find SUNY Fredonia within approx. 30 minutes.
The district maintains a student-to-teacher ratio of approximately 12:1, reflective of a supportive learning environment, with an education budget that prioritizes extracurricular programs, achieving a graduation rate close to 90%.
Average class sizes are around 20-25 students, ensuring that individual attention can be given to learners while they engage in various clubs and activities, enhancing their complete educational experience.
Employment Opportunities in Lakewood, NY
EMPLOYMENT OPPORTUNITIES IN LAKEWOOD, NY
Lakewood, NY, located in Chautauqua County, is part of a larger economic region that offers various employment opportunities. The top industries in the area include healthcare, retail, hospitality, and manufacturing, which are essential to the job market's comprehensive health.
The local unemployment rate as of 2023 hovers around 4.5%, slightly above the national average, indicating a competitive job environment. Common job types range from healthcare professionals, such as nurses and home health aides, to positions in retail, manufacturing, and administrative roles.
The average salary across these sectors is approximately $40,000 to $50,000, although it varies widely with experience and specific roles. Regarding major employers, organizations like the Lakewood YMCA, nearby Jamestown-area hospitals, and regional manufacturing firms offer stability and career growth.
Median income growth in the area has seen a slight rise of about 2% over the last five years, showcasing modest but consistent improvement. For those willing to commute within a 30-mile radius, additional job prospects exist in nearby cities like Jamestown and Erie, PA, further enhancing career options for residents in Lakewood.
Recreation and Attractions in Lakewood, NY
Exploring the rich recreational amenities and attractions in Lakewood, NY, reveals a vibrant community thriving on outdoor activities and cultural experiences.
Residents and visitors can enjoy:
- The scenic beauty of Chautauqua Lake
- Parks and trails for hiking and biking
- Local events showcasing art and music
- Unique dining options reflecting the community's diversity
These provisions contribute to Lakewood's engaging lifestyle.
Real Estate in Lakewood, NY
The real estate market in Lakewood, NY, offers an array of opportunities for homebuyers and investors alike, defined by a blend of charming residences and modern developments. Key factors influencing the market include property types, price ranges, and neighborhood amenities.
| Property Type | Average Price |
|---|---|
| Single Family Home | $250,000 |
| Townhouse | $180,000 |
| Condo | $150,000 |
| Multi-family | $300,000 |
| Vacant Land | $50,000 |
Transportation in Lakewood, NY
Lakewood's transportation infrastructure provides residents with essential connectivity to neighboring areas and amenities, making it an attractive place to live.
The town is well-served by various transportation options that improve accessibility and convenience, including:
- Well-maintained roads for vehicular traffic
- Public transportation services for commuters
- Proximity to regional airports
- Access to biking and walking trails
These elements contribute to an integrated transportation network.