Real Estate Investing in Lakewood, Washington (98499)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98499 (Lakewood, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Lakewood, WA (98499)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98499 Lakewood
Turning to rents, ZIP 98499 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $486K median. It rewards specialists, not generalists.
Rent of $1,704/mo on a $486K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98499 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 98499 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 98499 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 98499 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Lakewood:
Property Strategy for 98499
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $279,167 | $1,510 | 3.9% | +1.4% | $279,167 |
| 2BR | $363,655 | $1,860 | 3.7% | +5.2% | $181,828 |
| 3BR | $463,506 | $2,600 | 4.0% | +5.5% | $154,502 |
| 4BR | $584,213 | $2,970 | 3.7% | +6.1% | $146,053 |
| 5BR | $701,181 | — | — | +6.4% | $140,236 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98499 Compare?
| Metric | 98499 | Lakewood | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $485,917 | $345,030 | N/A | $591,536 |
| 5-Year CAGR | 2.7% | 2.8% | N/A | 5.9% |
| Avg Rent | $1,704 | $1,750 | N/A | - |
| Cap Rate | 2.7% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98499 (Lakewood, WA). Anonymous, moderated, never written by AI.
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Property managers serving Pierce County
Manage rentals here? List your business →Harborside Property Management LLC offers commercial and residential property manager services in Tacoma & Gig Harbor, including single-family and multi-family homes. summary from their website
Haven Property Management is a full-service residential management company based in Federal Way, WA, covering the Greater Puget Sound area. summary from their website
HOA Community Solutions provides management services for homeowner associations. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $485,917 |
| Monthly Rent | $1,704 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | -0.7% ▼ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +2.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98499
Population: 33,694
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98499
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 8,854 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the tenant pool like in Lakewood, WA?
Tenant demand in Lakewood, WA is solid. The local workforce $1,704/mo rents across most rental classes.
Is vacancy a concern in Lakewood, WA?
Vacancy risk in Lakewood, WA is elevated. That supports consistent cash flow for typical rental holds.
Where do home prices stand in Lakewood, WA?
Median home price in Lakewood, WA is near $486K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
How viable is house hacking in Lakewood, WA?
The a challenging house-hack environment in Lakewood, WA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What real estate strategy is ideal for Lakewood, WA?
In Lakewood, WA the solid play is typically careful cash-flow rentals with hands-on management. The combination of $486K prices and $1,704/mo rents suits that approach.
You know 98499 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98499 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98499 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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