Why Live in Lakewood
Lakewood, a serene neighborhood in Norfolk, is nestled between the Lafayette River and Wayne Creek, offering picturesque waterfront living. The area is characterized by its lush greenery, with pines, maples, and crape myrtles providing a canopy over Colonial Revival and Tudor Revival estates, as well as Cape Cod and cottage-style homes. Many properties date back to the 1920s and 1950s, featuring long driveways and meticulously landscaped lawns. While some homes are in Flood Zone AE, requiring flood insurance, the neighborhood's charm and central location near Norfolk Naval Base and Old Dominion University make it highly desirable.
Lakewood Park, at the heart of the community, features sports fields, playgrounds, and courts for basketball and tennis. The Lakewood Dance and Music Center offers lessons for all ages, and the waterfront location allows for boating, fishing, and other water activities. For daily needs, residents can shop at Food Lion, Aldi, Harris Teeter, and Walmart, with additional boutique shops, nightlife, and seafood restaurants in downtown Norfolk. Steinhilber’s Restaurant and Naa's Bakery are local favorites.
Maury High School, with its high rating and specialized Medical and Health Specialties program, serves the area. Public transit options include the Norfolk Amtrak Station, Elizabeth River Ferry, Tide Light Rail, and Hamptons Roads Transit bus system. Norfolk International Airport is 5 miles away, and Sentara Norfolk General Hospital is 4 miles from the neighborhood. Annual events like the Norfolk Harborfest and various music festivals add to the vibrant community life.
Frequently Asked Questions
Is Lakewood a good place to live?
Lakewood is a good place to live. Lakewood is considered somewhat walkable and somewhat bikeable with some transit options. Lakewood has 6 parks for recreational activities. It is fairly sparse in population with 4.6 people per acre and a median age of 48. The average household income is $139,072 which is above the national average. College graduates make up 54.6% of residents. A majority of residents in Lakewood are home owners, with 32.8% of residents renting and 67.2% of residents owning their home. A
local real estate agent serving Lakewood can help you decide if this neighborhood is the right one for you. Learn more on our
Lakewood neighborhood guide.
Is Lakewood, VA a safe neighborhood?
Lakewood, VA is safer than the average neighborhood in the United States. It received a crime score of 3 out of 10.
How much do you need to make to afford a house in Lakewood?
The median home price in Lakewood is $350,950. If you put a 20% down payment of $70,200 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $1,820 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $78K a year to afford the median home price in Lakewood. The average household income in Lakewood is $139K.
What are the best public schools in Lakewood?
The best public schools that serve Lakewood are:
What are the best private schools in Lakewood?
The best private schools that serve Lakewood are:
What are the most popular zip codes in Lakewood, Norfolk, VA?
What are the most popular neighborhoods near Lakewood, Norfolk, VA?
Are home prices dropping in Lakewood?
Yes, home prices in Lakewood are down 2% in the last 12 months.
Home Trends in Lakewood, VA
On average, homes in Lakewood, Norfolk sell after 59 days on the market compared to the national average of 70 days. The median sale price for homes in Lakewood, Norfolk over the last 12 months is $365,000, down 19% from the median home sale price over the previous 12 months.
Median Sale Price
$365,000
Median Single Family Sale Price
$333,450
Median Townhouse Sale Price
$260,000
Median 2 Bedroom Sale Price
$815,000
Average Price Per Sq Ft
$214
Number of Homes for Sale
1
Last 12 months Home Sales
50
Median List Price
$350,950
Median Change From 1st List Price
1%
Median Home Sale Price YoY Change
-19%