We propose a formula for the enumeration of closed lattice random walks of length $n$ enclosing a given algebraic area. The information is contained in the Kreft coefficients which encode, in the commensurate case, the Hofstadter secular equation for a quantum particle hopping on a lattice coupled to a perpendicular magnetic field. The algebraic area enumeration is possible because it is split in $2^{n/2-1}$ pieces, each tractable in terms of explicit combinatorial expressions.