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Real Estate Prices & Overview

Lakewood median real estate price is $365,191, which is less expensive than 82.4% of Rhode Island neighborhoods and 49.6% of all U.S. neighborhoods.

The average rental price in Lakewood is currently $2,542, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.4% of Rhode Island neighborhoods.

Lakewood is a suburban neighborhood (based on population density) located in Warwick, Rhode Island.

Lakewood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Lakewood neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

In Lakewood, the current vacancy rate is 1.4%, which is a lower rate of vacancies than 90.0% of all neighborhoods in the U.S. This means that the housing supply in Lakewood is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Modes of Transportation

Our research reveals that 90.2% of commuters who live in the Lakewood neighborhood get to work each day by driving alone in their automobiles, which is a higher proportion than 96.7% of U.S. neighborhoods.

Diversity

Did you know that the Lakewood neighborhood has more Portuguese and French Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 12.2% of this neighborhood's residents have Portuguese ancestry and 4.7% have French Canadian ancestry.

Lakewood is also pretty special linguistically. Significantly, 8.6% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Lakewood neighborhood in Warwick are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.3% of the neighborhoods in America. In addition, 2.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 75.3% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Lakewood neighborhood, 44.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (17.5%), and 15.9% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Lakewood neighborhood is English, spoken by 87.2% of households. Other important languages spoken here include Portuguese, Spanish, Polish and African languages.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Lakewood neighborhood in Warwick, RI, residents most commonly identify their ethnicity or ancestry as Irish (23.7%). There are also a number of people of Italian ancestry (20.1%), and residents who report English roots (13.2%), and some of the residents are also of Portuguese ancestry (12.2%), along with some French ancestry residents (9.5%), among others. In addition, 10.2% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Lakewood neighborhood spend between 15 and 30 minutes commuting one-way to work (59.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (90.2%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (5.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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