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Lakewood, NY Profile: Facts & Data

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Lakewood, New York - Basic Facts

The Village of Lakewood had a population of 2,918 as of July 1, 2024.

The primary coordinate point for Lakewood is located at latitude 42.1042 and longitude -79.3331 in Chautauqua County. The formal boundaries for the Village of Lakewood encompass a land area of 1.98 sq. miles and a water area of 0 sq. miles. Chautauqua County is in the Eastern time zone (GMT -5).

The Village of Lakewood has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Lakewood is located within Town of Busti, a minor civil division (MCD) of Chautauqua County.


Jump to... (On This Page!)
  1. Lakewood 2024 Demographic Data
  2. Growth Rates for Lakewood (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. New York Research Tools (Easy Tools & Current Data)
  3. New York Data Comparison Tool - 2024 Demographics
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Lakewood, NY Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 2,918 (100%)
Population in Households 2,861 (98.0%)
Population in Families 2,164 (74.2%)
Population in Group Quarters1 57 ( 2.0%)
Population Density 1,489
Diversity Index2 22
 
 

INCOME

Median Household Income $78,767
Average Household Income $121,454
% of Income for Mortgage4 15%
Per Capita Income $55,522
Wealth Index5 137
Socioeconomic Status Index6 Moderate (59.4)
 

HOUSING

Total HU (Housing Units) 1,703 (100%)
Owner Occupied HU 883 (51.8%)
Renter Occupied HU 450 (26.4%)
Vacant Housing Units 370 (21.7%)
Median Home Value $188,088
Average Home Value $260,136
Housing Affordability Index3 139
 

HOUSEHOLDS

Total Households 1,333
Average Household Size 2.15
Family Households 748
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2024 2024-2029
Population -0.67% -0.53%
Households -0.32% -0.02%
Families   -0.32%
Median Household Income   5.44%
Per Capita Income   3.12%
Owner Occupied HU   0.87%

Lakewood, NY - Peer Comparisons by Rank and Percentile

The table below compares Lakewood to the other 1,292 incorporated cities, towns and CDPs in New York by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 507 61st
Population Density # 555 57th
Median Household Income # 673 48th
Housing Affordability Index # 1078 83rd
Per Capita Income # 367 72nd
Diversity Index # 930 28th

Additional comparisons and rankings can be made with a VERY EASY TO USE New York Census Data Comparison Tool.

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