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This question is about Lakewood, OH.
What is a good salary in Lakewood, OH?
A good salary in Lakewood, OH is anything over $48,000. That's because the median income in Lakewood is $48,000, which means if you earn more than that you're earning more than 50% of the people living in Lakewood. The average salary in Lakewood is $54,440.
A good hourly wage in Lakewood is $23.08 per hour. That works out to a good weekly wage of $923 per week and a good monthly wage of $4,000 per month. However, using the median income is only one way to calculate a good salary in Lakewood.
Another way to calculate a good salary in Lakewood is to look at the price of housing and use that to back into a good salary. Experts agree that you want to maintain about a 5 to 1 home price to income ratio. Based on the median home price of $158,100, a good salary in Lakewood would be $31,620.
Lastly, we can determine a good salary in Lakewood by looking at the cost of living and comparing it to the US average salary. The cost of living in Lakewood is 6% lower than than the national average. The national average salary is $56,310, so a good salary in Lakewood is anything over $52,368 by this measure.
Average Annual Salary in Lakewood, OH
| Percentile | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
| 10th | $25,000 | $2,083 | $480 | $12.02 |
| 25th | $34,000 | $2,833 | $653 | $16.35 |
| Median | $48,000 | $4,000 | $923 | $23.08 |
| 75th | $67,000 | $5,583 | $1,288 | $32.21 |
| 90th | $90,000 | $7,500 | $1,730 | $43.27 |
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