Lakewood, WA—98499
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Lakewood, WA
Home Price Trends — Lakewood, WA
As of Oct '25, the median home price in Lakewood, WA is $470,000, with a year-over-year change of -0.6%. This indicates that home prices in Lakewood, WA are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $470,000 | -0.6% |
| Single Family | $475,000 | -0.8% |
| Condos | $342,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $279,000 | -5.1% |
2 Bed | $364,000 | -1.1% |
3 Bed | $464,000 | -0.6% |
4 Bed | $584,000 | 0.5% |
| 5 Bed | $701,000 | 2.0% |
% of Housing Stock
Rental Trends — Lakewood, WA
As of July '25, Rentcast reports the average rent in Lakewood, WA is $1,670, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Lakewood, WA is studios: $1,330, 1-bedrooms: $1,360, 2-bedrooms: $1,800, 3-bedrooms: $2,470, 4-bedrooms: $3,230. The most common rental property sizes in Lakewood, WA are 2-bedroom and 1-bedroom, accounting for 43.4% and 34.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,670 |
| Studio Rent | $1,280 | $1,330 |
| 1 Bed Rent | $1,400 | $1,360 |
| 2 Bed Rent | $1,720 | $1,800 |
| 3 Bed Rent | $2,500 | $2,470 |
| 4 Bed Rent | $3,300 | $3,230 |
% of Rental Stock
Property Listings — Lakewood, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lakewood, WA is 79. This is a increase of 64.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 42.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $599,000 | 3.0% |
Listing Count | 67 | 4.0% |
| Listings as % of Homes | 0.2% | 4.0% |
Days on Market | 79 | 64.0% |
Demographics — Lakewood, WA
As of the latest ACS Survey released in 2023, Lakewood, WA has a population of 33,700, which has increased by 7.9% over the past 5 years. Lakewood, WA is a moderately popular place for families, as children make up 21.8% of the population. The area has a poorly educated workforce, with 19.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,700 | 7.9% |
% Under 18 | 21.8% | -9.9% |
% Seniors | 14.7% | 4.3% |
% WFH | 5.8% | 132.0% |
% w/ College Degree | 19.4% | 8.4% |
As of the latest ACS Survey released in 2023, Lakewood, WA is a predominantly white area, with 39.2% of the population identifying as white. The white population has shrunk by 9.7% in the last 5 years. The second most common race or ethnicity in Lakewood, WA is hispanic, making up 24.6% of the population. Foreign-born residents account for 17.5% of the population in Lakewood, WA, and this percentage has decreased by 4.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 39.2% | -9.7% |
% Black | 16.7% | 20.1% |
% Hispanic | 24.6% | 15.0% |
% Asian | 7.6% | -17.4% |
% Foreign Born | 17.5% | -4.9% |
Mortgage and Risk — Lakewood, WA
According to HUD data as of 2023, there were 369 mortgage originations in Lakewood, WA, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Lakewood, WA. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 369 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Lakewood, WA
As of 2024, the percent of homes in Lakewood, WA under the Section 8 program is 8.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Lakewood, WA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 767 |
Total Units Section 8 | 767 |
% Rentals under Section 8 | 8.4% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,400 | $1,450 |
| 2 Bedroom | $70 | $1,720 | $1,790 |
| 3 Bedroom | $20 | $2,500 | $2,520 |
| 4 Bedroom | -$380 | $3,300 | $2,920 |
Affordability — Lakewood, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $470,000 |
| Median Household Income | $65,000 |