Rental market snapshot for Lakewood, Washington

Lakewood, Washington Rental Property Market Overview

Lakewood, Washington is a city located in Pierce County, Washington. According to the US Census, the population of Lakewood was 63,331 in 2021. It is a suburban city located south of Tacoma and is the second-largest city in Pierce County. Lakewood is home to many parks, trails, and recreational activities, as well as a variety of businesses and services. The city is also home to Joint Base Lewis-McChord, a major military installation. Lakewood is a great place to live, work, and play.

The average rent for an apartment in Lakewood is $2,166. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has increased by 1.8% over the past year.

Last Updated January 31, 2023

Average monthly rent graph in Lakewood Washington | Cost of Living

  • The most expensive ZIP Code in Lakewood is 98498 with an average price of $1,908
  • The cheapest ZIP Code in Lakewood is 98499 with an average price of $1,750

Lakewood ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
198498$1,908
298499$1,900

Live near Lakewood, Washington's Top Sights and Attractions

Fort Steilacoom Park is a sprawling public park located in the Pacific Northwest. It features over 300 acres of lush green space, including a variety of trails, picnic areas, and playgrounds. The park is home to a variety of wildlife, including deer, bald eagles, and many species of birds. It also features a large lake, perfect for fishing, swimming, and boating. The park is a popular destination for hikers, bikers, and nature lovers alike, offering stunning views of the surrounding area.

Seeley Lake Park is a beautiful outdoor destination located in Lakewood, Washington. It features a large lake surrounded by lush green trees, providing a tranquil and peaceful atmosphere. The park also offers a variety of recreational activities, such as fishing, boating, swimming, and hiking. Visitors can also enjoy picnicking, bird watching, and exploring the park's many trails. With its stunning views and abundance of activities, Seeley Lake Park is a great place to spend a day outdoors.

American Lake Park is a beautiful outdoor destination located in Lakewood, Washington. It features a variety of recreational activities, including a boat launch, fishing pier, swimming beach, and picnic areas. The park also has a playground, walking trails, and a disc golf course. Visitors can also enjoy stunning views of the lake and surrounding mountains.

Chambers Creek Canyon Park is a scenic outdoor destination located in the foothills of the Cascade Mountains. It features a network of trails that wind through lush forests, meadows, and creeks, offering stunning views of the surrounding landscape. Visitors can explore the park on foot, bike, or horseback, and enjoy a variety of activities such as fishing, bird watching, and picnicking. The park also features a disc golf course, a playground, and a dog park. With its breathtaking scenery and wide range of recreational opportunities, Chambers Creek Canyon Park is a must-visit destination for nature lovers.

Springbrook Park is a picturesque park located in a lush, green valley. It features a large lake surrounded by tall trees, providing a peaceful and serene atmosphere. The park also has a playground, picnic areas, and plenty of walking trails. Visitors can enjoy a variety of activities such as fishing, canoeing, kayaking, and bird watching. The park is also home to a variety of wildlife, including deer, beavers, and bald eagles.

Kiwanis Park is a scenic park located on the shores of American Lake in Lakewood, Washington. It features a variety of outdoor activities, such as fishing, swimming, and boating. The park also has a playground, picnic areas, and a walking path. There are also several sports fields, including baseball, softball, and soccer. The park is a great place to spend the day with family and friends, and it offers stunning views of the lake and surrounding area.

Harry Todd Park is a beautiful park located in the Pacific Northwest. It features a large grassy area with picnic tables, a playground, and a walking path. The park also has a pond with ducks and geese, and a small beach area with a dock. There are also several trails that wind through the park, offering visitors a chance to explore the natural beauty of the area. The park is a great place to spend a day with family and friends, or just to relax and take in the scenery.

Historic Fort Steilacoom is a 19th century military fort located in the Pacific Northwest. It was built in 1849 and is the oldest American military reservation in the region. The fort is now a public park and is open to visitors. The grounds feature a variety of historic buildings, including the original guardhouse, officers' quarters, and a hospital. Visitors can also explore the fort's parade ground, cemetery, and museum. The fort is a great place to learn about the region's history and to enjoy the beautiful views of the surrounding area.

Wards Lake Park is a picturesque park situated on a lake, surrounded by lush greenery. The park features a walking path that circles the lake, with benches and picnic tables scattered along the way. Visitors can also enjoy a variety of activities such as fishing, paddle boating, and canoeing. There is also a playground for children and a gazebo for special events. The park is a great spot for a peaceful stroll or a family outing.

South Puget Sound Wildlife Area is a nature reserve located in the foothills of the Cascade Mountains. It is a popular spot for outdoor activities such as hiking, birdwatching, and fishing. The area is home to a variety of wildlife, including bald eagles, ospreys, and herons. The area also features a variety of habitats, including wetlands, meadows, and forests. Visitors can explore the area on foot or by boat, and there are several trails and boardwalks that provide access to the area's natural beauty.

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Lakewood, Washington area median rent change by ZIP Code map

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How does Lakewood compare to other cities in Washington ?

citymedian price
Sammamish$2,295
Lakewood$2,225
Kent$2,695
Snohomish$2,995
Tacoma$2,250
Maple Valley$2,875
Mercer Island$2,330
Snohomish$2,990
Kent$2,325

Average household income in Lakewood area graph - US Census

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The median household income in Lakewood in 2021 was $55,723. This represents a 31.8% change from 2011 when the median was $42,273.

#categorypercent
0Less than $10,0007.2%
1$10,000 to $14,9993.2%
2$15,000 to $19,9994.6%
3$20,000 to $24,9994.5%
4$25,000 to $29,9994.5%
5$30,000 to $34,9994.5%
6$35,000 to $39,9994.6%
7$40,000 to $44,9996.1%
8$45,000 to $49,9994.0%
9$50,000 to $59,99910.1%
10$60,000 to $74,99911.5%
11$75,000 to $99,99912.5%
12$100,000 to $124,9998.0%
13$125,000 to $149,9995.7%
14$150,000 to $199,9995.2%
15$200,000 or more3.6%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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