Rents are 13% below what Lakewood's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,734 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Lakewood usually run 0.8% below trend in February and 0.8% above it in June, about $28 a month apart at today's median. Based on 11 years of data.
Rent in Lakewood is 0.6% below its high of $1,744 in December 2025, at $1,734 as of September 2026.
Rent in Lakewood changed +1.7% over the year to September 2026. Across the 97 Washington cities Zillow tracks, the typical change was +2.6%.
From 2019 to 2024, rent in Lakewood rose 35.8% while median household income rose 43.8% ($51,972 to $74,720). Income kept ahead of rent.
Rent in Lakewood is 38.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($74,720) is $1,868 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,795); a 3-bedroom is $2,520.
From Zillow's monthly rent index (ZORI) for Lakewood. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Lakewood, WA is roughly split between renters and owners, 23.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Lakewood, WA has changed in 5 years
Since 2021, the typical rent in Lakewood, WA has increased from $1,389 to $1,734, a 24.8% change over five years. Local incomes tracked alongside that move, going from a median of $60,534 in 2021 to $74,720 more recently. Renters now make up 52.5% of households, compared with 56.1% five years ago. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Lakewood, WA market of 2021.
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At $1,734/mo, how Lakewood rent compares to typical pay (30% rule).
Lakewood rent by bedroom count
Median rent for each apartment size in Lakewood. Click any size for full breakdown.
Tips for renters in Lakewood
Last updated: October 17, 2026
The median rent in Lakewood is $1,734/mo as of October 2026. A studio apartment averages $1,290/mo while a 2-bedroom runs $1,795/mo. One-bedroom apartments average $1,455/mo and 3-bedroom units go for $2,520/mo.
At 28% of local median household income ($74,720/yr), Lakewood ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.
Frequently asked questions
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How does Lakewood rent compare to other cities in Washington?
At $1,734/mo, rent takes ~28% of Lakewood's median household income ($74,720/yr). The standard benchmark is 30%.
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