salaryRent is higher than in 71% of U.S. cities. A typical house costs about 5.7 years of household income.
How much money do I need?
To rent here comfortably, you should earn about $81,680 a year. That is $39 an hour at a full-time job.
Is rent cheaper than other Washington cities?
No. Rent here is more expensive than in most of Washington. It is number 102 of 192 cities from cheapest to most expensive.
How much do households earn in Lakewood?
Share of households by yearly income. 25.0% of households earn $100,000 or more.
Rent by apartment size in Lakewood
| Size | Lakewood | U.S. average |
|---|---|---|
| Studio | $1,136 | $1,338 |
| 1 bedroom | $1,349 | $1,324 |
| 2 bedrooms | $1,707 | $1,509 |
| 3 bedrooms | $2,407 | $1,698 |
| 4 bedrooms | $2,878 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Lakewood overall?
Everyday prices in the Seattle-Tacoma-Bellevue metro area are 11% above the U.S. average (index 111.1, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024.
Taxes and bills in Lakewood
Life in Lakewood
What jobs pay in Lakewood
| Job | Median pay | Rent / pay |
|---|---|---|
| Physician Assistant | $167,290 | 14.6% |
| Software Developer | $167,280 | 14.6% |
| Lawyer | $164,980 | 14.9% |
| Pharmacist | $162,870 | 15.0% |
| Nurse Practitioner | $160,090 | 15.3% |
| Operations Manager | $146,030 | 16.8% |
| Dental Hygienist | $133,740 | 18.3% |
| Computer Systems Analyst | $133,690 | 18.3% |
| Registered Nurse | $128,260 | 19.1% |
| Civil Engineer | $116,480 | 21.0% |
| Police Officer | $115,120 | 21.3% |
| Elementary School Teacher | $102,920 | 23.8% |
| Market Research Analyst | $102,170 | 24.0% |
| Electrician | $101,780 | 24.1% |
| Firefighter | $101,090 | 24.2% |
| Accountant | $99,370 | 24.7% |
| Plumber | $95,230 | 25.7% |
| Licensed Practical Nurse | $85,690 | 28.6% |
| HVAC Technician | $80,100 | 30.6% |
| Carpenter | $76,410 | 32.1% |
| Truck Driver | $71,240 | 34.4% |
| Medical Assistant | $61,500 | 39.8% |
| Server (Waiter/Waitress) | $57,280 | 42.8% |
| Customer Service Representative | $53,550 | 45.8% |
| Nursing Assistant | $51,990 | 47.1% |
| Warehouse Worker | $47,740 | 51.3% |
| Restaurant Cook | $47,730 | 51.3% |
| Cashier | $44,210 | 55.4% |
| Retail Salesperson | $42,080 | 58.2% |
Is it cheaper to rent or buy in Lakewood?
Renting is cheaper right now: about $1,158 a month less.
Owning assumes a typical $461,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $46,120 for the down payment.
Frequently asked questions
What is the average rent in Lakewood, WA?
Renting in Lakewood costs a median of about $2,042 a month in 2026, including utilities. The Washington median is $2,025.
How much do I need to make to live in Lakewood?
To keep rent under 30% of income, you need about $81,680 a year, or $39 an hour at a full-time job.
Is Lakewood cheap or expensive?
Lakewood is rated Expensive: rent takes 30.4% of the typical household income of $80,586. It ranks 102nd cheapest of 192 Washington cities we track.
How much are property taxes in Lakewood?
The median homeowner in Lakewood pays $4,326 a year in property taxes, about 0.94% of the median home value.
Is Lakewood more expensive than the national average?
Overall prices in the metro area are 11% above the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Lakewood?
The median home value in Lakewood is $461,200, about 5.7 times the typical yearly household income.
62,937 people live in Lakewood. Numbers are typical (middle) values.