Parkwood, WA
Population 6,976 · Washington
About Parkwood, WA
Parkwood is a small town located in Washington with a population of 6,976 residents according to the latest US Census Bureau American Community Survey data. The median household income is $92,188 per year, which is 23% above the national median of $75,149. The median age of 39.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Parkwood features a median home value of $418,100, which is 71% above the national median of $244,900. This places Parkwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,746, 50% above the national average of $1,163/month. Of the 2,931 total housing units, 63% are owner-occupied (1,727 units) and 37% are renter-occupied (1,028 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Parkwood shows an unemployment rate of 1.1%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.4%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Parkwood have an average one-way commute time of 30 minutes.
Education & Demographics
18.4% of Parkwood 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 4.5% White, 3.3% Hispanic or Latino, 7.4% Black or African American, and 2.2% Asian residents, with 7.5% of the population being foreign-born.
How Parkwood Ranks in Washington
Cost of Living in Parkwood, WA
Compared to national averages, Parkwood has a median household income of $92,188 (23% above the national median of $75,149). Home values average $418,100, which is 71% above the national median. Monthly rent at $1,746 is 50% above the US average of $1,163. Within Washington, Parkwood's income is 2% above the state average of $90,795, and home values are 9% below the state median of $460,491.
Why Live in Parkwood, WA?
Parkwood offers a strong local economy with a median household income of $92,188, well above the national average, and a strong job market with an unemployment rate of just 1.1%, and a low poverty rate of 4.4%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $418,100. However, Parkwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Parkwood has a population of 6,976 with a median age of 39.4 years. Compare Parkwood with other cities to see how it stacks up, or explore all cities in Washington.
Similar Cities Near Parkwood
Cities in Washington with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sudden Valley | 6,963 | $98,865 | $450,500 | Compare |
| Woods Creek | 7,027 | $145,773 | $724,400 | Compare |
| Wollochet | 6,905 | $148,716 | $819,900 | Compare |
| Pacific | 7,064 | $102,976 | $437,400 | Compare |
| Ocean Shores | 7,076 | $62,750 | $378,000 | Compare |
| Fircrest | 7,082 | $107,781 | $554,600 | Compare |
| Hobart | 6,841 | $149,635 | $893,700 | Compare |
| Clover Creek | 7,128 | $97,581 | $456,300 | 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 Parkwood With Other Cities
Frequently Asked Questions about Parkwood
What is the population of Parkwood, WA?
The population of Parkwood, WA is 6,976 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Washington.
What is the median household income in Parkwood?
The median household income in Parkwood, WA is $92,188 per year, which is 23% above the national median of $75,149.
What is the median home value in Parkwood?
The median home value in Parkwood, WA is $418,100, which is 71% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Parkwood?
The median monthly rent in Parkwood, WA is $1,746, which is 50% above the national average of $1,163/month.
What is the unemployment rate in Parkwood?
The unemployment rate in Parkwood, WA is 1.1%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Parkwood, WA a good place to live?
Parkwood offers above-average incomes, a competitive housing market, and a strong job market. With a population of 6,976 and a median age of 39.4, the city appeals to a broad range of residents.
How educated is Parkwood, WA?
18.4% of residents in Parkwood 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 Parkwood?
Key cost-of-living indicators for Parkwood, WA: median home value is $418,100 (71% above national), median rent is $1,746/month, and median household income is $92,188. The home-value-to-income ratio is 4.5x, a moderate figure by national standards.
What is the poverty rate in Parkwood?
The poverty rate in Parkwood, WA is 4.4%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Parkwood, WA?
Parkwood's population is 4.5% White, 3.3% Hispanic or Latino, 7.4% Black or African American, 2.2% Asian, and 1.3% two or more races. 7.5% of residents are foreign-born.