States › Washington › Parkwood

Is Parkwood, WA expensive to live in?

OKRent takes 25 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,95411% higher than U.S. average
💵 Families earn per year (2026)$95,582about $7,965/month · 10% higher than U.S. average
🔑 House price$441,40033% higher than U.S. average

Rent is higher than in 67% of U.S. cities. A typical house costs about 4.6 years of household income. Commutes are long, about 31.2 minutes each way.

How much money do I need?

To rent here comfortably, you should earn about $78,160 a year. That is $38 an hour at a full-time job.

Is rent cheaper than other Washington cities?

Yes. Rent here is cheaper than in most of Washington. It is number 86 of 192 cities from cheapest to most expensive.

Parkwood
$1,954
Mead
$1,532
Woods Creek
$2,760
Lake Shore
$2,376
Wollochet
$2,030
Steilacoom
$2,077
Pacific
$1,794

How much do households earn in Parkwood?

Under $25k
11.0%
$25k–50k
15.8%
$50k–100k
44.4%
$100k–150k
17.3%
$150k+
9.2%

Share of households by yearly income. 26.5% of households earn $100,000 or more.

Rent by apartment size in Parkwood

SizeParkwoodU.S. average
1 bedroom$1,530$1,324
2 bedrooms$1,870$1,509
3 bedrooms$2,281$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Parkwood overall?

Everyday prices in Washington overall are 7% above the U.S. average (index 107.0, U.S. = 100).

Housing
126
Goods (food, clothes…)
104
Utilities
93
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Parkwood, so the Washington figure is shown.

Taxes and bills in Parkwood

🏛️ Property tax$3,492a year · 0.79% of home value · U.S. $3,119
⚡ Electric bill$114a month (typical) · U.S. $156

Life in Parkwood

Commute to work31.2 minU.S.: 26.4 min
College degree22.7%U.S.: 35.7%
Own their home62.1%U.S.: 65.2%
Below poverty line7.6%U.S.: 12.5%
Unemployment3.7%U.S.: 5.2%

Is it cheaper to rent or buy in Parkwood?

Renting is cheaper right now: about $1,109 a month less.

Renting
$1,954
Owning
$3,063

Owning assumes a typical $441,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $44,140 for the down payment.

Frequently asked questions

What is the average rent in Parkwood, WA?

Renting in Parkwood costs a median of about $1,954 a month in 2026, including utilities. The Washington median is $2,025.

How much do I need to make to live in Parkwood?

To keep rent under 30% of income, you need about $78,160 a year, or $38 an hour at a full-time job.

Is Parkwood cheap or expensive?

Parkwood is rated OK: rent takes 24.5% of the typical household income of $95,582. It ranks 86th cheapest of 192 Washington cities we track.

How much are property taxes in Parkwood?

The median homeowner in Parkwood pays $3,492 a year in property taxes, about 0.79% of the median home value.

Is Parkwood more expensive than the national average?

Overall prices in Washington are 7% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Parkwood?

The median home value in Parkwood is $441,400, about 4.6 times the typical yearly household income.

6,873 people live in Parkwood. Numbers are typical (middle) values.