Lakewood, WA real estate
Buying or selling a home, condo, or piece of land in Lakewood? Here is what the city's housing actually looks like, and how to reach Isaac Ortiz about it.
Lakewood housing snapshot
| Population | 63,034 | |
|---|---|---|
| Median home value | $420,500 | Owner-reported |
| Median household income | $70,524 | |
| Detached houses | 44% | Share of all housing units |
| Townhomes / attached | 5.6% | |
| In buildings of 2+ units | 46.1% | Condos and apartments alike |
| Manufactured homes | 4.1% | |
| Owner-occupied | 44.8% | |
| Median year built | 1974 | |
| Vacancy rate | 6.7% |
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates (2019–2023). Tables B25077, B01003, B25003, B25024, B25035, B19013, B25002. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
What the numbers mean for a buyer or seller
The median owner-reported home value in Lakewood is $420,500.
That is 13% below the Pierce County median of $484,400. Median household income is $70,524, 27% below the county's $96,632.
Lakewood's housing is genuinely mixed - 44% detached houses, 46.1% in multi-unit buildings, and 5.6% attached single-family such as townhomes. Both house and attached-home stock exist here in real numbers.
Owners occupy 44.8% of homes, so Lakewood is majority-renter. That matters for buyers two ways: more of the stock is investor-held, and more of it trades as an income property rather than a primary residence.
Half of Lakewood's homes were built in 1974 or earlier, so a large share predates modern energy codes - worth leaving time in the inspection for the roof, the electrical, and the plumbing.
Lakewood is 63,034 people, with enough turnover that recent comparable sales are rarely the constraint. Vacancy sits at 6.7%.
Selling in Lakewood
With 44.8% owner-occupancy, a good share of Lakewood buyers are investors running the numbers as a rental. That changes what matters: condition and rent potential can carry more weight than finishes.
For pricing context, the midpoint of Lakewood homes is $420,500, and the area sits about 6.9 miles off the Seattle-Bellevue-Tacoma spine - usually the first thing a buyer's agent checks when they push back on a list price.
Half the homes here were built in 1974 or earlier, so buyers and their inspectors arrive expecting questions about the roof, the electrical and the sewer line. Knowing those answers before you list is usually worth more than fixing them mid-negotiation.
A large share of Lakewood's housing is in multi-unit buildings, so if you are selling a condo the comparison set is genuinely different from a detached house and should be priced against the right one.
Isaac will tell you what your home is actually likely to bring in Lakewood and what, if anything, is worth doing first. If the honest answer is that this is not your year to sell, he will say that too.
Talk to Isaac Ortiz about Lakewood
Isaac Ortiz is a licensed real estate broker with Compass, working Pierce County and the surrounding Puget Sound area. Se habla español. Send a note and he will reply personally.
Email Isaac.Ortiz@nwret.com.