Living in Lakewood, Washington
Cost of living, income, home prices, rent and demographics of Lakewood · Census data 2020–2024
Lakewood has 62,937 residents with a median age of 37.4. The median household income is $74,720 (24% lower than the Washington median), the median home value is $461,200, the median rent is $1,525/month.
Lakewood at a glance
- Population
- 62,937
- Median age
- 37.4State: 38.3
- Median household income
- $74,720State: $98,141
- Median home value
- $461,200State: $564,600
- Median rent
- $1,525/moState: $1,760
- Homeowners
- 47.5%
- Bachelor's degree or higher
- 23.2%
- Average commute
- 29 min
Is Lakewood a good place to live?
Pros: Home values 18% lower than the state median.
Cons: Median household income 24% lower than the Washington median; an average commute of 29 minutes; unemployment of 5.7%; a poverty rate of 13.2%.
The weather is best in June to September.
Cost of living in Lakewood
Housing is the biggest part of the cost of living. In Lakewood the median home value is $461,200, 39% higher than the U.S. median. Renters pay a median of $1,525 per month, which is 31.3% of household income. Homeowners with a mortgage pay $2,197 a month in housing costs.
Lakewood median household income
The median household income in Lakewood is $74,720 and the income per person is $44,695. 13.2% of residents live below the poverty line (Washington: 9.9%).
Housing in Lakewood: homes for sale and rent
- Housing units
- 28,591
- Owner-occupied
- 47.5%
- Renter-occupied
- 52.5%
- Vacant
- 7.3%Includes seasonal homes
- Median year built
- 1975
- Average household size
- 2.32
Lakewood demographics
- Population
- 62,937
- Median age
- 37.4
- Under 18
- 19.6%
- 65 and older
- 17.2%
- Households
- 26,500
- Foreign-born
- 15.3%
- Veterans
- 13.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Lakewood ›
Education in Lakewood
23.2% of adults 25 and older in Lakewood have a bachelor's degree or higher (Washington: 39.6%), and 9.5% have a graduate or professional degree.
Jobs and commute in Lakewood
- Unemployment rate
- 5.7%State: 5.1%
- Average commute
- 29 minState: 27 min
- Work from home
- 8.8%
- Drive alone
- 72.2%
- Public transit
- 3.2%
- Walk to work
- 1.1%
- Homes with broadband
- 91.8%
Lakewood vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lakewood | 62,937 | $74,720 | $461,200 | $1,525 |
| McChord AFB | 2,999 | $54,808 | — | $2,323 |
| Steilacoom | 6,686 | $100,851 | $655,000 | $1,818 |
| University Place | 34,911 | $99,031 | $624,800 | $1,762 |
| North Fort Lewis | 6,337 | $70,114 | — | $2,475 |
| Parkland | 38,742 | $72,239 | $423,000 | $1,663 |
| Fircrest | 7,069 | $113,926 | $583,500 | $1,554 |
| Fort Lewis | 15,167 | $58,796 | — | $2,282 |
| Midland | 9,050 | $84,700 | $412,800 | $1,546 |
More for people moving to Lakewood
Lakewood ZIP code ›Weather and climate ›Living in Lakewood: FAQ
What is the median household income in Lakewood, WA?
The median household income in Lakewood is $74,720, 24% lower than the Washington median of $98,141 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lakewood?
The median home value in Lakewood is $461,200, compared with $564,600 in Washington.
How much is rent in Lakewood?
The median gross rent in Lakewood is $1,525 per month, about 31.3% of household income.
Is Lakewood, WA a good place to live?
Pluses: home values 18% lower than the state median. Minuses: median household income 24% lower than the Washington median; an average commute of 29 minutes; unemployment of 5.7%; a poverty rate of 13.2%.
What is the median age in Lakewood?
The median age in Lakewood is 37.4 years (Washington: 38.3).
How long is the commute in Lakewood?
The average commute to work in Lakewood is 29 minutes; 8.8% of workers work from home.
What is the unemployment rate in Lakewood?
The unemployment rate in Lakewood is 5.7% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lakewood?
23.2% of adults in Lakewood have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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