Lakewood, WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lakewood Neighborhoods Since 2000




Lakewood, WA Real Estate Data


Lakewood Housing Market Information

With 59,829 people, 24,107 houses or apartments, and a median cost of homes of $261,907, 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 47.80% of the city's housing units. Other types of housing that are prevalent in Lakewood include large apartment complexes or high rise apartments ( 30.91%), duplexes, homes converted to apartments or other small apartment buildings ( 9.78%), and a few row houses and other attached homes ( 5.81%).

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 ( 40.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.00%). There's also some housing in Lakewood built before 1939 ( 3.61%).

Vacant housing appears to be an issue in Lakewood. Fully 11.09% 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

Lakewood's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lakewood during the period has been just -0.80%, which is lower than 70% of US communities.

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 9.92%, which is higher than appreciation rates in 97.65% 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 4.49%, which equates to an annual appreciation rate of 19.19%.

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.

Average Home Values

 

Median Home Value:
$261,907

Lakewood, WA HOME PRICES

Value Range
> $1,269,000 1.4
$952,001 - $1,269,000 1.0
$634,001 - $952,000 2.8
$507,001 - $634,000 3.6
$380,001 - $507,000 10.8
$254,001 - $380,000 29.0
$127,001 - $254,000 32.8
$63,001 - $127,000 4.4
$0 - $63,000 14.3

Average for WA
High for Nation

Value Relative to Nation Value Relative to State
21.3972009135094 50.0

Number Of Homes And Apartments:
24,107

Rent & Ownership

 

Average Market Rent:
$1,375 / per month

Homeownership Rate

Homeownership
Owners 44.91
Renters 55.09
Vacant 11.09

Housing Market Details

 

Age of Homes

AGE OF Lakewood HOMES
2000 or Newer 8.0
1970 - 1999 47.4
1940 - 1969 40.9
1939 or Older 3.6

Types of Homes

TYPE OF Lakewood HOMES
Single-Family 47.8
Townhomes 5.8
Small Apt. Buildings 9.8
Apt. Complexes 30.9
Mobile Homes 5.5
Other 0.2

Home Size

SIZE OF Lakewood HOMES
No Bedroom 2.68
1 Bedroom 19.18
2 Bedrooms 30.47
3 Bedrooms 32.74
4 Bedrooms 12.24
5 or more bedrooms 2.68

Lakewood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
62.37% 2.89% 5 8
* 10 is highest