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The average rent in Lakewood, McHenry County, IL is $1,418.

In Lakewood, 3% of the residents are renting compared to 97% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent none of Lakewood's rentals, 56% are small-scale complexes with under 50 units, and 44% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Lakewood are about 38 years old, on average. Of these, 13% have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Lakewood come in a range of sizes and floorplans. Studio apartments represent 4% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 39% of the total apartments in the city, while 2-bedroom floorplans represent around 51% of all rentals in Lakewood. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.