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 about Scout's Real Estate Data
With a population of 61,037, 24,520 total housing units (homes and apartments), and a median house value of $341,710, 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 47.87% of the city's housing units. Other types of housing that are prevalent in Lakewood include large apartment complexes or high rise apartments ( 30.31%), duplexes, homes converted to apartments or other small apartment buildings ( 10.94%), and a few row houses and other attached homes ( 5.52%).
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 ( 40.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.00%). There's also some housing in Lakewood built before 1939 ( 3.99%).
In the last 10 years, Lakewood has experienced some of the highest home appreciation rates of any community in the nation. Lakewood real estate appreciated 57.48% over the last ten years, which is an average annual home appreciation rate of 4.65%, putting Lakewood in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Lakewood definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 5.46%, which is higher than appreciation rates in 80.02% 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 2.24%, which equates to an annual appreciation rate of 9.28%.
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 higher than 60% 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.
|$1,047,001 - $1,396,000||1.4|
|$699,001 - $1,047,000||3.7|
|$558,001 - $699,000||4.1|
|$419,001 - $558,000||16.7|
|$279,001 - $419,000||30.8|
|$140,001 - $279,000||28.5|
|$70,001 - $140,000||3.3|
|$0 - $70,000||10.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
2000 Q1 - 2020 Q3
|* 10 is highest|
|AGE OF Lakewood HOMES|
|2000 or Newer||9.0|
|1970 - 1999||46.1|
|1940 - 1969||40.9|
|1939 or Older||4.0|
|TYPE OF Lakewood HOMES|
|Small Apt. Buildings||10.9|
|SIZE OF Lakewood HOMES|
|5 or more bedrooms||3.78|