Lakeway, TX
Population 19,130 · Texas
About Lakeway, TX
Lakeway is a mid-sized city located in Texas with a population of 19,130 residents according to the latest US Census Bureau American Community Survey data. The median household income is $164,978 per year, which is 120% above the national median of $75,149. The median age of 50.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lakeway features a median home value of $695,400, which is 184% above the national median of $244,900. This places Lakeway in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,123, 169% above the national average of $1,163/month. Of the 8,875 total housing units, 86% are owner-occupied (6,826 units) and 14% are renter-occupied (1,139 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lakeway shows an unemployment rate of 3.3%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lakeway have an average one-way commute time of 27.9 minutes.
Education & Demographics
73.7% of Lakeway residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 6.6% White, 1.5% Hispanic or Latino, 0.6% Black or African American, and 1.8% Asian residents, with 8.5% of the population being foreign-born.
How Lakeway Ranks in Texas
Cost of Living in Lakeway, TX
Compared to national averages, Lakeway has a median household income of $164,978 (120% above the national median of $75,149). Home values average $695,400, which is 184% above the national median. Monthly rent at $3,123 is 169% above the US average of $1,163. Within Texas, Lakeway's income is 127% above the state average of $72,726, and home values are 228% above the state median of $211,769.
Why Live in Lakeway, TX?
Lakeway offers a strong local economy with a median household income of $164,978, well above the national average, and a strong job market with an unemployment rate of just 3.3%, and a well-educated community where 73.7% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.9%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $695,400. However, Lakeway’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lakeway has a population of 19,130 with a median age of 50.3 years. Compare Lakeway with other cities to see how it stacks up, or explore all cities in Texas.
Similar Cities Near Lakeway
Cities in Texas with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Cinco Ranch | 19,139 | $157,395 | $459,500 | Compare |
| Orange | 19,178 | $60,183 | $147,200 | Compare |
| Alton | 19,205 | $48,777 | $126,600 | Compare |
| Terrell | 19,019 | $63,795 | $190,000 | Compare |
| Crowley | 19,007 | $92,599 | $241,500 | Compare |
| Seagoville | 18,968 | $68,020 | $221,300 | Compare |
| Palestine | 18,888 | $46,228 | $153,400 | Compare |
| La Marque | 18,833 | $70,632 | $189,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Texas
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lakeway With Other Cities
Frequently Asked Questions about Lakeway
What is the population of Lakeway, TX?
The population of Lakeway, TX is 19,130 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Texas.
What is the median household income in Lakeway?
The median household income in Lakeway, TX is $164,978 per year, which is 120% above the national median of $75,149.
What is the median home value in Lakeway?
The median home value in Lakeway, TX is $695,400, which is 184% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lakeway?
The median monthly rent in Lakeway, TX is $3,123, which is 169% above the national average of $1,163/month.
What is the unemployment rate in Lakeway?
The unemployment rate in Lakeway, TX is 3.3%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lakeway, TX a good place to live?
Lakeway offers above-average incomes, a competitive housing market, and a strong job market. With a population of 19,130 and a median age of 50.3, the city appeals to established professionals and retirees.
How educated is Lakeway, TX?
73.7% of residents in Lakeway aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lakeway?
Key cost-of-living indicators for Lakeway, TX: median home value is $695,400 (184% above national), median rent is $3,123/month, and median household income is $164,978. The home-value-to-income ratio is 4.2x, a moderate figure by national standards.
What is the poverty rate in Lakeway?
The poverty rate in Lakeway, TX is 2.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lakeway, TX?
Lakeway's population is 6.6% White, 1.5% Hispanic or Latino, 0.6% Black or African American, 1.8% Asian, and 1.1% two or more races. 8.5% of residents are foreign-born.