Median Home PriceBETTER
$527,692.35
Median RentBETTER
$2,734.71/mo
Price-to-Rent RatioBETTER
16.1
Property Tax RateTIE
2.49%
Price Change (1Y)BETTER
+3.2%
Price Change (5Y)BETTER
+16.0%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$292,455
Median Home Price
$617,352.12
Median Rent
$2,911.9/mo
Price-to-Rent Ratio
17.7
Property Tax RateTIE
2.49%
Price Change (1Y)
+0.3%
Price Change (5Y)
+1.3%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$527,936
Key Differences
Home Prices
Lakewood's median home price of $527,692.35 is lower than Union City's $617,352.12 by 15%.
Monthly Rent
Renting in Lakewood costs $2,734.71/mo compared to $2,911.9/mo in Union City—a difference of $177.19/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.