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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 59,829 people, 24,140 houses or apartments, and a median cost of homes of $312,525, 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 45.94% of the city's housing units. Other types of housing that are prevalent in Lakewood include large apartment complexes or high rise apartments ( 30.85%), duplexes, homes converted to apartments or other small apartment buildings ( 11.02%), and a few mobile homes or trailers ( 6.15%).
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 ( 41.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.06%). There's also some housing in Lakewood built before 1939 ( 3.77%).
Vacant housing appears to be an issue in Lakewood. Fully 10.90% of the housing stock is classified as vacant. Left unchecked, vacant Lakewood homes and apartments can be a drag on the real estate market, holding Lakewood real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Lakewood's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.23% during the period.
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 12.61%, which is higher than appreciation rates in 99.05% 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 2.93%, which equates to an annual appreciation rate of 12.23%.
Importantly, NeighborhoodScout’s exclusive research found that Lakewood's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which 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 higher 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.
|$1,070,001 - $1,426,000||0.7|
|$713,001 - $1,070,000||3.2|
|$571,001 - $713,000||2.6|
|$428,001 - $571,000||9.8|
|$285,001 - $428,000||28.7|
|$143,001 - $285,000||37.6|
|$71,001 - $143,000||3.6|
|$0 - $71,000||12.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
2000 Q1 - 2017 Q3
|* 10 is highest|
|AGE OF Lakewood HOMES|
|2000 or Newer||9.1|
|1970 - 1999||45.9|
|1940 - 1969||41.3|
|1939 or Older||3.8|
|TYPE OF Lakewood HOMES|
|Small Apt. Buildings||11.0|
|SIZE OF Lakewood HOMES|
|5 or more bedrooms||2.68|