Lakewood, WA Economy


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Lakewood, WA is a vibrant city located in Pierce County, Washington. It has many amenities that make living here attractive. For instance, the average two bedroom rent is $1,490, while the US average for two bedroom rent is $1,430. Additionally, the Grocery Cost Index in Lakewood is 100 versus 100 in the US. This makes it an affordable place to live and shop for groceries.
Lakewood is also home to many companies and organizations such as Lakewood Treeworks Inc., Northwest Environmental Services LLC., Tacoma Rainiers Baseball Club and Lakewood Family YMCA. These businesses provide employment opportunities to people of all ages and backgrounds including retail stores and restaurants. With its beautiful scenery, friendly atmosphere and low cost of living, Lakewood makes a great place to call home!

Lakewood has an unemployment rate of 7.8%. The US average is 6.0%.

Lakewood has seen the job market decrease by -2.9% over the last year. Future job growth over the next ten years is predicted to be 39.1%, which is higher than the US average of 33.5%.

Tax Rates for Lakewood
- The Sales Tax Rate for Lakewood is 9.9%. The US average is 7.3%.
- The Income Tax Rate for Lakewood is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Lakewood
- The average income of a Lakewood resident is $33,277 a year. The US average is $37,638 a year.
- The Median household income of a Lakewood resident is $60,534 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyLakewood, WashingtonUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
Reviews for Lakewood
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Historically, Lakewood has had a bad reputation for being a crime ridden city, but since its incorporation in 1996 it has seen a transformation. Many of its roads have  More

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Over 7 years ago

Lakewood is the worst city in the state. With a murder rate that has grown upwards of 20 people a year, to the home invasions that happen every day in the city, don’t  More

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Over 16 years ago

lakewood(chocolate city, lakeview, eastside,tillicum/woodbrook,lakecity) all crime drug and gang filled areas. very high murder rate for a suburb..and there are way too  More

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