Cost of Living in Lakewood, WA
Population 62,937 · Census ACS 2020–2024 5-year estimates
The median rent in Lakewood, WA is $1,525/month, 13% lower than the Washington median and 8% higher than the U.S. median. The median home value is $461,200, 39% higher than the national median. Households earn a median of $74,720 a year, 24% lower than the state median.
Affordability
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Lakewood vs. Washington vs. U.S.
| Lakewood | Washington | U.S. | |
|---|---|---|---|
| Median rent | $1,525 | $1,760 | $1,413 |
| Median home value | $461,200 | $564,600 | $332,700 |
| Median household income | $74,720 | $98,141 | $80,734 |
| Homeownership rate | 47.5% | 63.8% | 65.2% |
| Bachelor's degree or higher | 23.2% | 39.6% | 35.7% |
| Poverty rate | 13.2% | 9.9% | 12.5% |
| Unemployment rate | 5.7% | 5.1% | 5.2% |
| Work from home | 8.8% | 19.8% | 15.1% |
| Median age | 37.4 | 38.3 | 38.9 |
FAQ
What is the average rent in Lakewood, WA?
The median gross rent in Lakewood, WA is $1,525 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Lakewood, WA?
Using the common 30% rule, renting a median-priced home takes about $61,000 a year in gross income.
Is Lakewood, WA expensive to live in?
Rent there is 8% higher than the U.S. median, and the median home costs about 6.2 times the median household income.
Other cities in Washington
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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