Lakewood, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Lakewood Neighborhoods Since 2000




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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Lakewood Housing Market Information

With 59,829 people, 24,140 houses or apartments, and a median cost of homes of $286,142, 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.

Lakewood Home Appreciation Rates

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 -0.57% 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 13.88%, which is higher than appreciation rates in 99.00% 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 2.83%, which equates to an annual appreciation rate of 11.81%.

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 90% 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:
$286,142

Lakewood, WA HOME PRICES

Value Range
> $1,306,000 1.5
$980,001 - $1,306,000 0.7
$653,001 - $980,000 3.2
$522,001 - $653,000 2.6
$392,001 - $522,000 9.8
$261,001 - $392,000 28.7
$131,001 - $261,000 37.6
$65,001 - $131,000 3.6
$0 - $65,000 12.2

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
17.7838978085081 42.9078014184397

Number Of Homes And Apartments:
24,140

Lakewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
70.44% 3.14% 6 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,356 / per month

Homeownership Rate

Homeownership
Owners 45.27
Renters 54.73
Vacant 10.90

Housing Market Details

 

Age of Homes

AGE OF Lakewood HOMES
2000 or Newer 9.1
1970 - 1999 45.9
1940 - 1969 41.3
1939 or Older 3.8

Types of Homes

TYPE OF Lakewood HOMES
Single-Family 45.9
Townhomes 5.7
Small Apt. Buildings 11.0
Apt. Complexes 30.8
Mobile Homes 6.1
Other 0.3

Home Size

SIZE OF Lakewood HOMES
No Bedroom 2.94
1 Bedroom 19.54
2 Bedrooms 32.12
3 Bedrooms 31.21
4 Bedrooms 11.51
5 or more bedrooms 2.68