Lakewood, WA
Population 63,034 · Washington
About Lakewood, WA
Lakewood is a mid-sized city located in Washington with a population of 63,034 residents according to the latest US Census Bureau American Community Survey data. The median household income is $70,524 per year, which is 6% below the national median of $75,149. The median age of 36.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lakewood features a median home value of $420,500, which is 72% above the national median of $244,900. This places Lakewood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,460, 26% above the national average of $1,163/month. Of the 28,010 total housing units, 45% are owner-occupied (11,706 units) and 55% are renter-occupied (14,419 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Lakewood shows an unemployment rate of 5.5%, which is near the national rate of 3.7%. The poverty rate stands at 13.6%, above the national average of 12.4%. Workers in Lakewood have an average one-way commute time of 28.8 minutes.
Education & Demographics
22.6% of Lakewood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 13.5% White, 3.3% Hispanic or Latino, 2.1% Black or African American, and 3.8% Asian residents, with 15.3% of the population being foreign-born.
How Lakewood Ranks in Washington
Cost of Living in Lakewood, WA
Compared to national averages, Lakewood has a median household income of $70,524 (6% below the national median of $75,149). Home values average $420,500, which is 72% above the national median. Monthly rent at $1,460 is 26% above the US average of $1,163. Within Washington, Lakewood's income is 22% below the state average of $90,795, and home values are 9% below the state median of $460,491.
Why Live in Lakewood, WA?
Potential considerations include median household income ($70,524) that falls below the national average, and a competitive housing market where the typical home costs $420,500. However, as a mid-sized city, Lakewood provides access to a wide range of amenities and services.
Lakewood has a population of 63,034 with a median age of 36.3 years. Compare Lakewood with other cities to see how it stacks up, or explore all cities in Washington.
Similar Cities Near Lakewood
Cities in Washington with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Richland | 61,912 | $92,550 | $401,800 | Compare |
| Sammamish | 66,375 | $227,273 | $1,240,300 | Compare |
| Shoreline | 59,280 | $113,336 | $759,400 | Compare |
| South Hill | 68,161 | $109,235 | $493,800 | Compare |
| Lacey | 57,088 | $87,277 | $427,900 | Compare |
| Olympia | 55,583 | $76,930 | $457,900 | Compare |
| Marysville | 71,570 | $100,362 | $521,500 | Compare |
| Burien | 51,331 | $90,597 | $609,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Washington
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lakewood With Other Cities
Frequently Asked Questions about Lakewood
What is the population of Lakewood, WA?
The population of Lakewood, WA is 63,034 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Washington.
What is the median household income in Lakewood?
The median household income in Lakewood, WA is $70,524 per year, which is 6% below the national median of $75,149.
What is the median home value in Lakewood?
The median home value in Lakewood, WA is $420,500, which is 72% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Lakewood?
The median monthly rent in Lakewood, WA is $1,460, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Lakewood?
The unemployment rate in Lakewood, WA is 5.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lakewood, WA a good place to live?
Lakewood offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 63,034 and a median age of 36.3, the city appeals to a broad range of residents.
How educated is Lakewood, WA?
22.6% of residents in Lakewood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lakewood?
Key cost-of-living indicators for Lakewood, WA: median home value is $420,500 (72% above national), median rent is $1,460/month, and median household income is $70,524. The home-value-to-income ratio is 6.0x, a moderate figure by national standards.
What is the poverty rate in Lakewood?
The poverty rate in Lakewood, WA is 13.6%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lakewood, WA?
Lakewood's population is 13.5% White, 3.3% Hispanic or Latino, 2.1% Black or African American, 3.8% Asian, and 12.7% two or more races. 15.3% of residents are foreign-born.