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These days, finding an affordable place to live in the Lakewood area can be challenging. Home prices in Lakewood are now at a median cost of $470,122, lower than the Washington average of $621,115.
The average cost of rent is $1,672/mo in Lakewood, primarily driven by the current value of real estate in the Lakewood area. In Lakewood, 52.95% of households rent, and 43.85% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lakewood is $6,890 per month. Households that rent pay about 24.27% of their income on rent here. Lakewood’s most expensive areas are in the northern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Steilacoom, WA: higher priced homes
- University Place, WA: higher priced homes
- Tillicum, WA: higher priced homes
- North Fort Lewis, WA: higher priced homes
- Parkland, WA: less expensive homes
- Fircrest, WA: higher priced homes
- Midland, WA: less expensive homes
- Fort Lewis, WA: higher priced homes
- Tacoma, WA: higher priced homes
- Dupont, WA: higher priced homes
Cities with Similar Populations
- Bethesda, MD: higher priced homes
- Portland, ME: higher priced homes
- Covina, CA: higher priced homes
- Troy, NY: less expensive homes
- Lake Elsinore, CA: higher priced homes
- Riverdale, GA: less expensive homes
- Rome, GA: less expensive homes
- Salisbury, MD: less expensive homes
- Sanford, NC: less expensive homes
- Tamarac, FL: less expensive homes
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