Starting at $1,749 Per Month
- Studio - 3 Beds
5101 88th Street Ct SW, Lakewood, WA 98499
AMAZING FALL SPECIALS RIGHT NOW. 1ST MONTH FREE ON SLECT UNITS AND MORE!
Echelon
Frequently Asked Questions
How much does it cost to rent a home in Lakewood, WA?
The median rent for a home in Lakewood, WA is $1,975 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Lakewood, WA?
To comfortably afford the median rent in Lakewood, WA, a household needs to earn roughly $79,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,975 per month in Lakewood, WA, renters typically need to show $5,925 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Lakewood, WA?
In Lakewood, WA, the price-to-rent ratio is 21.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Lakewood, WA are best for renting a home?
The best neighborhood for renting in Lakewood, WA depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include South End, Hilltop, Downtown Tacoma, North Tacoma and Stadium District, each with its own character and price range.
