Salary & Cost of Living in Lakewood, OH
Lakewood, OH: $45,131 median salary, cost of living index 82.1, $10.45/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$45,131
$22/hr
Cost of Living
82.1
US avg = 100
Minimum Wage
$10.45
per hour
Unemployment
4.5%
rate
Lakewood, OH Overview
Population
50,942
Median Salary
$45,131
Average Salary
$50,547
Avg Commute
18 min
Median Home Price
$179,000
Median Rent
$741/mo
Job Growth
+2.4%
Sales Tax
5.75%
Lakewood is located in Ohio with a population of 50,942. The median household salary is $45,131 per year ($22/hour), which is $14,253 below the national median of $59,384. The average commute time is 18 minutes, and the city has a job growth rate of +2.4%.
Lakewood Salary by Experience Level (2026)
Wage distribution in Lakewood, OH based on BLS percentile breakdown of the $45,131 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $27,981 | $13.45/hr | 0–2 years |
| Mid-Level (Median) | $45,131 | $21.70/hr | 3–7 years |
| Senior-Level | $64,086 | $30.81/hr | 8–15 years |
| Top 10% (90th Percentile) | $80,333 | $38.63/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Lakewood Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Lakewood, OH, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$36,221
$3,018.39/month · $1,393.10/biweekly · Effective Rate: 19.7%
Gross Pay
$45,131
Federal Tax
-$3,377
State Tax
-$1,580
Local Tax
-$501
FICA
-$3,453
Net Pay
$36,221
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $3,760.92 | $45,131.00 |
| Federal Income Tax | -$281.44 | -$3,377.22 |
| Ohio State Tax (3.5%) | -$131.63 | -$1,579.59 |
| Local Tax (1.11%) | -$41.75 | -$500.95 |
| Social Security (6.2%) | -$233.18 | -$2,798.12 |
| Medicare (1.45%) | -$54.53 | -$654.40 |
| Net Take-Home Pay | $3,018.39 | $36,220.72 |
Salary Comparison: Lakewood vs Other Cities
See how Lakewood's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Lakewood, OH | $45,131 | 82.1 | $54,971 |
| National Average | $59,384 | 100 | $59,384 |
| Palm Springs, FL | $45,180 | 92.3 | $48,949 |
| Sheboygan, WI | $45,215 | 87 | $51,971 |
| Euclid, OH | $45,040 | 86.3 | $52,190 |
| Livonia, MI | $45,029 | 87.7 | $51,344 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Lakewood
Lakewood's cost of living index is 82.1 (national average = 100). Living in Lakewood is 17.900000000000006% less expensive than the national average.
Median Home Price
$179,000
Median Monthly Rent
$741
Annual Rent Cost
$8,892
Your Salary's Purchasing Power
Your $36,221 annual take-home pay in Lakewood has the purchasing power of approximately $44,118 in an average-cost US area. Your $45,131 salary stretches further here than in most US cities.
Top Industries in Lakewood
Lakewood's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $45,131.
Salary Tips for Lakewood Workers
- Your salary goes further here. Lakewood has a cost of living 17.900000000000006% below the national average. A salary of $45,131 here has the purchasing power of about $54,971 in an average-cost area.
- Research top industries. Lakewood's top industries include Manufacturing, Healthcare, Finance. Targeting roles in these sectors can help you earn above the $45,131 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Lakewood, OH?
The median salary in Lakewood, OH is $45,131 per year, or $22 per hour. The average salary is $50,547. This is $14,253 below the national median of $59,384.
What is the cost of living in Lakewood, OH?
Lakewood's cost of living index is 82.1 (national average = 100), meaning it is 17.900000000000006% less expensive compared to the national average. The median home price is $179,000 and the median monthly rent is $741.
What are the best industries in Lakewood?
The top industries in Lakewood, OH include Manufacturing, Healthcare, Finance. The city has a job growth rate of 2.4% and an unemployment rate of 4.5%. Workers in these industries often earn above the city's median salary of $45,131.
How does Lakewood's salary compare to other cities?
Lakewood's median salary of $45,131 is 24.0% below the national median of $59,384. However, when adjusted for cost of living (index: 82.1), the real purchasing power is approximately $54,971.
What is the minimum wage in Lakewood, OH?
The minimum wage in Lakewood, OH is $10.45 per hour. This equals approximately $21,736 per year for a full-time worker (40 hours/week). This is $3.20 above the federal minimum wage of $7.25/hour.