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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Lakewood Housing Market Information

With 60,296 people, 24,129 houses or apartments, and a median cost of homes of $293,864, 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 47.82% of the city's housing units. Other types of housing that are prevalent in Lakewood include large apartment complexes or high rise apartments ( 30.05%), duplexes, homes converted to apartments or other small apartment buildings ( 11.05%), and a few row houses and other attached homes ( 5.97%).

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 ( 40.57%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.98%). There's also some housing in Lakewood built before 1939 ( 4.09%).

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 19.28%, which ranks in the top 40% nationwide. This equates to an annual average Lakewood house appreciation rate of 1.78%.

NeighborhoodScout's data show that during the latest twelve months, Lakewood's appreciation rate, at 4.58%, has been at or slightly above the national average. In the latest quarter, Lakewood's appreciation rate has been -0.23%, which annualizes to a rate of -0.93%.

Relative to Washington, our data show that Lakewood's latest annual appreciation rate is lower than 70% 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:
$293,864

Lakewood, WA HOME PRICES

Value Range
> $1,343,000 2.0
$1,007,001 - $1,343,000 2.3
$672,001 - $1,007,000 2.8
$537,001 - $672,000 4.7
$403,001 - $537,000 15.5
$269,001 - $403,000 35.2
$134,001 - $269,000 25.5
$67,001 - $134,000 3.0
$0 - $67,000 9.0

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
20.0700729927007 54.416961130742

Number Of Homes And Apartments:
24,129

Lakewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
101.14% 3.70%
5
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,605 / per month

Homeownership Rate

Homeownership
Owners 44.95
Renters 55.05
Vacant 8.79

Housing Market Details

 

Age of Homes

AGE OF Lakewood HOMES
2000 or Newer 9.0
1970 - 1999 46.4
1940 - 1969 40.6
1939 or Older 4.1

Types of Homes

TYPE OF Lakewood HOMES
Single-Family 47.8
Townhomes 6.0
Small Apt. Buildings 11.0
Apt. Complexes 30.0
Mobile Homes 5.0
Other 0.1

Home Size

SIZE OF Lakewood HOMES
No Bedroom 3.46
1 Bedroom 19.70
2 Bedrooms 32.12
3 Bedrooms 30.85
4 Bedrooms 10.48
5 or more bedrooms 3.38