Lakewood, WA

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Lakewood short-term rental market based on reliable data.

Listings

85 / 223

Reliable / Active

Cap Rate

6%

Middle-Earners Gross Yield

Revenue

$33,290

Middle-Earners Revenue

Occupancy

75%

Middle-Earners Occupancy

Home Value

$524,933

Median Home Sale Price

Top Earners

$58,051

Top-Earners Revenue

Lakewood

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Lakewood.

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C

Challenging to Investors

Lakewood Regulations

STRs are explicitly allowed in most residential/mixed-use zones, but investors face multi‑step permits (Type II STR permit, annual business license, RHSP registration), mandatory inspections (city + fire) with 5‑year cycle, and ongoing operational obligations (24‑hour contact, good‑neighbor policy, posting permit/license on all listings, no commercial events, no signs, strict parking). Prohibitions in commercial/industrial areas further narrow options, raising compliance and operational burden.

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About Lakewood

Lakewood is a mid-sized city in Pierce County, Washington, home to approximately 63,000 residents. Located about 35 miles south of Seattle and just southwest of Tacoma, the city sits in the heart of the Puget Sound region, offering a suburban character that blends residential neighborhoods with significant military, retail, and natural features. Lakewood is best known as the home of Joint Base Lewis-McChord, one of the largest military installations on the West Coast, and it serves as a convenient base for visitors exploring the greater Tacoma area and the South Sound.

One of the most prominent attractions in Lakewood is Chambers Bay, a public-links golf course dramatically situated on the bluffs overlooking Puget Sound. Famous for hosting the 2015 U.S. Open, Chambers Bay is renowned for its sweeping views, walking-only format during certain seasons, and unique fescue-grass design. The course is roughly a 10-minute drive from central Lakewood and continues to draw golf enthusiasts from around the world. Adjacent trails and the surrounding Chambers Creek Regional Park extend the appeal for hikers, beachcombers, and casual visitors who want to experience the Puget Sound shoreline without straying far from the city.

Just a few minutes from downtown Lakewood, Lakewold Gardens offers a quieter but equally memorable experience. This historic estate garden, originally developed in the early twentieth century, features formal English-style landscaping, mature rhododendrons, towering Douglas firs, and ornamental lakes. The property provides guided tours and seasonal events, creating a peaceful setting that contrasts with the city's busier commercial corridors. Its proximity to the city center makes it a popular destination for visitors seeking a slower pace, particularly during spring bloom season.

Outdoor recreation in Lakewood also centers on Fort Steilacoom Park, one of the largest green spaces in the region. The park encompasses more than 340 acres of open fields, athletic facilities, walking trails, and a small lake, and it borders the campus of Pierce College. It hosts community events throughout the year and is a favorite for picnics, disc golf, and dog walking. Just to the north, the city edges up against the American Lake shoreline, a long, popular destination for fishing, boating, and lakeside walks.

Beyond its own attractions, Lakewood's appeal for short-term-rental guests is amplified by its proximity to Tacoma. The museums and waterfront of Tacoma, including the Museum of Glass, the Washington State History Museum, and Point Defiance Park, are all within a 15- to 20-minute drive. Travelers can reach downtown Seattle in about 45 minutes via Interstate 5, while the state capital of Olympia lies roughly 30 miles to the south. With its mix of military heritage, Pacific Northwest scenery, and easy access to both urban centers and natural escapes, Lakewood offers short-term-rental owners a versatile base for year-round visitors, from business travelers connected to Joint Base Lewis-McChord to leisure guests exploring the South Sound.

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