Lakewood, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Lakewood, WA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lakewood Housing Market Information

With 60,665 people, 24,369 houses or apartments, and a median cost of homes of $313,232, Lakewood real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Lakewood, accounting for 45.61% of the city's housing units. Other types of housing that are prevalent in Lakewood include large apartment complexes or high rise apartments ( 31.53%), duplexes, homes converted to apartments or other small apartment buildings ( 11.05%), and a few row houses and other attached homes ( 6.09%).

People in Lakewood primarily live in small (one, two or no bedroom) single-family detached homes. Lakewood has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Lakewood built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Lakewood built between 1940-1969 ( 40.45%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.07%). There's also some housing in Lakewood built before 1939 ( 3.34%).

Lakewood Home Appreciation Rates

Appreciation rates for homes in Lakewood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 8.84%, which ranks in the top 50% nationwide. This equates to an annual average Lakewood house appreciation rate of 0.85%.

Appreciation rates are so strong in Lakewood that despite a nationwide downturn in the housing market, Lakewood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lakewood appreciation rates continue to be some of the highest in America, at 7.31%, which is higher than appreciation rates in 79.92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lakewood. Lakewood appreciation rates in the latest quarter were at 3.10%, which equates to an annual appreciation rate of 12.99%.

Importantly, this makes Lakewood one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Washington, our data show that Lakewood's latest annual appreciation rate is lower than 50% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Lakewood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lakewood - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lakewood real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$313,232

Lakewood, WA HOME PRICES

Value Range
> $1,402,000 1.6
$1,052,001 - $1,402,000 0.9
$701,001 - $1,052,000 2.5
$561,001 - $701,000 3.2
$421,001 - $561,000 10.6
$280,001 - $421,000 31.8
$141,001 - $280,000 34.4
$70,001 - $141,000 4.7
$0 - $70,000 10.4

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
17.4306569343066 44.5229681978799

Number Of Homes And Apartments:
24,369

Lakewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
92.95% 3.62%
6
9
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$1,733 / per month

Homeownership Rate

Homeownership
Owners 42.76
Renters 57.24
Vacant 9.69

Housing Market Details

 

Age of Homes

AGE OF Lakewood HOMES
2000 or Newer 9.1
1970 - 1999 47.1
1940 - 1969 40.4
1939 or Older 3.3

Types of Homes

TYPE OF Lakewood HOMES
Single-Family 45.6
Townhomes 6.1
Small Apt. Buildings 11.0
Apt. Complexes 31.5
Mobile Homes 5.5
Other 0.3

Home Size

SIZE OF Lakewood HOMES
No Bedroom 2.95
1 Bedroom 21.25
2 Bedrooms 31.33
3 Bedrooms 30.44
4 Bedrooms 11.16
5 or more bedrooms 2.86