Lakewood, Ohio Short-Term Rental Market
Lakewood, OH STRs averaged $137/night at 58.8% occupancy in April 2026, generating $2,283 per month across 5,934 active listings.
Quick Answer: Lakewood, Ohio is an active short-term rental market. average occupancy in the Cleveland market area is 69%. average monthly revenue in the Cleveland market area is $3,148. average daily rate in the Cleveland market area is $165. the top operator in the Cleveland market area is HomeHop with 72 listings. market score is 93/100 (grade A).
Market data reflects the Cleveland regional market, which includes Lakewood. Regulations, taxes, and permit details below are specific to Lakewood.
Market Score Breakdown
Five dimensions StaySTRA evaluates per market.
Market Overview
Lakewood is a densely settled inner-ring suburb of 49,517 residents directly west of Cleveland on Lake Erie. The city’s walkable Detroit Avenue commercial corridor, proximity to downtown Cleveland’s sports venues and arts institutions, and Lakewood Park’s lakefront access position it as a practical lodging alternative for regional visitors and Cleveland-area event travelers.
The short-term rental market recorded an average daily rate of $137 and occupancy of 58.8% in April 2026, translating to RevPAR of $80.32 and average monthly revenue of $2,283 per listing. Year-over-year, revenue grew 5.1% as a 2.5% ADR gain offset a 2.3-percentage-point occupancy dip.
The market hosts 5,934 active listings. Entire-place rentals dominate at 5,061 units (85.3% of total), with 861 private-room listings and 12 shared rooms. Channel distribution skews heavily toward Airbnb: 3,393 listings are Airbnb-only, 2,286 list on both Airbnb and VRBO, and 255 are VRBO-only.
One-bedroom units are the most common configuration at 2,410 listings (40.6% of supply), followed by 2-bedroom (1,750), 3-bedroom (1,093), 4-bedroom (439), and 5-bedroom (223). Lakewood’s composite market score of 93.2 out of 100 reflects an investability rating of 95.0 and a rental demand score of 86.4, with revenue growth scoring 60.0 out of 100, consistent with the steady, moderate pace of appreciation in this Midwest urban market.
Seasonal Patterns
| Month | Occupancy |
|---|---|
| Jan | 47% |
| Feb | 55% |
| Mar | 55% |
| Apr | 56% |
| May | 61% |
| Jun | 68% |
| Jul | 70% |
| Aug | 67% |
| Sep | 60% |
| Oct | 59% |
| Nov | 55% |
| Dec | 53% |
Month-by-month nightly rates and revenue figures for Lakewood are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Top Short-Term Rental Operators in Cleveland market area
Ranked by total active listings. Useful for understanding the competitive landscape. Operator data is published for the Cleveland market as a whole, which includes Lakewood, so these counts are not Lakewood-only figures.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | HomeHop | 72 | 3,280 | ★ 4.82 |
| 2 | AMH Rental Properties | 67 | 5,030 | ★ 4.87 |
| 3 | Evolve | 61 | 1,559 | ★ 4.56 |
| 4 | One Stone Property Group | 60 | 3,837 | ★ 4.76 |
| 5 | Hostpros, LLC | 57 | 6,608 | ★ 4.81 |
What Kind of STR Should I Buy in Lakewood?
Revenue and nightly-rate breakdowns by bedroom count, property tier, and dwelling type for Lakewood are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 57.2% |
| vrbo | 4.3% |
| both | 38.5% |
Home Value Trends (Lakewood)
Typical home values, median sale prices, and the 10-year price trend for Lakewood are available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Booking Insights
Booking-window and length-of-stay analysis for Lakewood — how far ahead guests book and how to price around it — is available to StaySTRA Pro members. Unlock with StaySTRA Pro or analyze a specific address free.
Short-Term Rental Regulations
Lakewood currently operates without an enforceable short-term rental ordinance. As of the most recent available information, no permit, license, or registration is required to operate an STR in Lakewood, and no occupancy or transient tax framework has been specifically adopted for short-term rentals.
A formal regulatory framework was proposed in Ordinance 23-2025, which would have created a Short-Term Rental Permit issued by the Lakewood Building Department and classified STRs as a conditional use in residential zones (R2 single/two-family and ML/MH multifamily). The proposed ordinance would also have required STRs to be the operator’s primary residence, imposed a one-listing-per-parcel cap, set maximum occupancy at two persons per bedroom plus two additional guests, and required a 24-hour local responsible party. However, Lakewood City Council deferred the ordinance without adopting it; independent reporting described the draft as a placeholder while the city conducted further outreach to operators and neighbors.
In practice, operators remain subject to Lakewood’s existing nuisance, noise, parking, and residential-use codes. The market’s regulation score of 70.7 out of 100 and an enforcement severity of none/unregulated reflect the absence of a formal STR framework. Investors should monitor council activity, as the city has stated intent to establish a framework. If a future ordinance adopts the proposed primary-residence requirement, it would significantly restrict non-owner-occupied investment properties in residential districts.
Market Comparison
Lakewood’s April 2026 occupancy of 58.8% sits above the approximate U.S. STR median of 55%, a positive signal for a Midwest urban market without a traditional vacation draw. The average daily rate of $137 is well below the U.S. median of approximately $220, consistent with Lakewood’s position as a lower-cost lodging alternative in the greater Cleveland area.
The market’s 93.2 composite score and 95.0 investability rating place it among stronger Midwest urban markets in this data set, primarily because Cleveland’s stable visitor base and Lakewood’s walkable character create dependable baseline demand without the volatility of pure leisure markets.
Property management in Lakewood is moderately consolidated. HomeHop leads with 72 listings and 3,280 reviews (rating 4.82). AMH Rental Properties manages 67 listings with 5,030 reviews (rating 4.87), the highest-rated operator among the top five. Evolve (61 listings, rating 4.56), One Stone Property Group (60 listings, rating 4.76), and Hostpros, LLC (57 listings, rating 4.81) round out the top tier. The top five operators collectively manage 317 listings, approximately 5.3% of total market supply, indicating that most of the market remains independently managed.
Frequently Asked Questions About Lakewood, Ohio
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