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 is 69%. average monthly revenue is $3,148. average daily rate is $165. the top operator 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 Apivex 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 | ADR | Revenue |
|---|---|---|---|
| Jan | 47% | $97 | $1,389 |
| Feb | 55% | $103 | $1,424 |
| Mar | 55% | $108 | $1,601 |
| Apr | 56% | $115 | $1,716 |
| May | 61% | $123 | $2,023 |
| Jun | 68% | $130 | $2,343 |
| Jul | 70% | $128 | $2,474 |
| Aug | 67% | $128 | $2,362 |
| Sep | 60% | $124 | $2,014 |
| Oct | 59% | $118 | $1,955 |
| Nov | 55% | $111 | $1,686 |
| Dec | 53% | $110 | $1,665 |
Top Short-Term Rental Operators in Lakewood
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | 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 pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,410 |
| 2 bed | 1,750 |
| 3 bed | 1,093 |
| 4 bed | 439 |
| 5 bed | 223 |
ADR by Property Tier
| Entire Home | $186 |
| Luxury | $297 |
| Professionally Managed | $209 |
Revenue by Dwelling Type
| Apartment | $2,736 |
| Entire Place | $3,546 |
| House | $3,522 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 57.2% |
| vrbo | 4.3% |
| both | 38.5% |
Investment Analysis
Lakewood STRs generated an average of $2,283 per month in April 2026, which annualizes to approximately $27,400 at that run rate. No housing value data is available for this market through our data source, so gross yield calculations would require current comparable sale data obtained independently.
Rate segmentation shows clear performance tiers. Entire-home listings averaged $151 per night versus the market-wide $137, a 10.4% premium. Professionally managed properties averaged $170 per night (24.7% above the market average), reflecting the benefit of active pricing and guest communication. Luxury-tier listings reached $265 per night, 94% above the overall average. These spreads indicate that property configuration and management quality translate directly into nightly rate.
Revenue follows the same tiering: entire-place listings averaged $2,511 per month, houses $2,468, and apartments $2,109. The $402 monthly gap between apartments and entire-place configurations is meaningful at scale.
Annual data since 2017 shows a consistent upward trajectory. Average annual revenue grew from $1,310 in 2017 to $2,368 in 2025, an 80.8% gain over eight years. Annual occupancy peaked at 62.9% in 2021 during the post-pandemic rebound and has since stabilized between 57% and 60%. The 2025 revenue growth score of 60.0 reflects measured rather than outsized appreciation, appropriate for underwriting conservative return assumptions.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Lakewood guests book an average of 28 days in advance and stay an average of 4.6 nights per stay. These two metrics shape operator pricing windows and operational planning in distinct ways.
A 28-day booking lead time means most reservations arrive approximately one month before arrival. Operators applying dynamic pricing should set rates at full market rate 30-plus days out and reserve shorter-horizon adjustments for filling gaps rather than as a default strategy. With 5,934 active listings in this market, calendar gaps that remain open past the 30-day window may benefit from rate reductions to capture late-booking demand.
At 4.6 nights average length of stay, Lakewood guests stay slightly longer than a typical weekend trip. This translates to roughly six or seven turnovers per calendar month at full occupancy, making cleaning cost management an important factor in net return. Operators who price minimum stays at 3 to 4 nights on weekend periods can improve per-stay revenue while keeping turnover volume manageable, particularly during the June-August high season when demand allows more pricing leverage.
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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