Low Income Apartments and Affordable Housing For Rent in Lakewood, WA

Discover affordable housing in Lakewood where there are 7+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Crown Pointe Apartments

2611 84th Street Ct S, Lakewood, Washington 98499

Lakewood Meadows Apartments

5228 112th St SW, Lakewood, Washington 98499

Lakewood Village

9100 LAKEWOOD DR SW, Lakewood, Washington 98499

Arbor Pointe Apartments

11432 105th Avenue SW, Lakewood, Washington 98498

Wisteria Walk Apartments

3615 112th St SW, Lakewood, Washington 98499

Sage Terrace

3502 92nd St S, Lakewood, Washington 98499

Lkwd - Network Tacoma

Venture Ii Apartments, Lakewood, Washington 98499

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lakewood, Washington
$37.63/hour
$21.35 (+131%) more than Washington minimum wage and $30.38 (+419%) more than the Federal minimum wage.
Learn More About Lakewood, Washington Affordable Housing ↓

What HUD offices serve Lakewood, Washington?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Lakewood, Washington.

Go to the Washington Public Housing and Low-Income Apartments Waiting Lists page for openings near Lakewood.

How many renters live in Lakewood, Washington?

The City of Lakewood has 63,142 people living in 26,366 households.

There are 33,272 renters living in 14,878 renter households in this City. Renters make up 52.69 percent of the population living in Lakewood.

What is the rental market like in Lakewood, Washington?

There are an estimated 28,257 housing units in the Lakewood area. Of these, 15,651 units are rental homes, making up 55 percent of the housing market. For every renter household in Lakewood, Washington, there are 1 rental units.

What is the vacancy rate for rentals in Lakewood?

The rental vacancy rate in Lakewood is 4 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Lakewood for each bedroom size?

Occupied Rental Units by Size in Lakewood
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
1,155 5,028 6,134 2,276 238
Occupied Rental Units by Size in Lakewood

A large number of apartments in Lakewood have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Lakewood are overburdened by housing costs?

Among renter households in this market, 51 percent have housing cost burden. Further, 22 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Lakewood

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,430 to $3,236. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,430
One BR $1,603
Two BR $1,987
Three BR $2,800
Four BR $3,236
2024 Fair Market Rents in Lakewood, Washington

How many units are rented at Fair Market Rent (FMR) in Lakewood?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 931 81 percent
One BR 4,326 86 percent
Two BR 3,612 59 percent
Rental Units Below FMR in Lakewood, Washington

How many affordable rental units are in Lakewood?

There are a variety of federal affordable housing programs serving households in Lakewood, Washington including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 439
Public Housing 1
Tracked Units by Federal Program in Lakewood, Washington

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Lakewood, Washington

Lakewood features 18 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Lakewood, Washington

There are 490 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lakewood.

Housing Choice Vouchers in Lakewood, Washington

On average, Section 8 Housing Choice vouchers pay Lakewood landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in Lakewood.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lakewood, Washington for a two-bedroom apartment is between $1,788 and $2,186.

Sourced from federal housing data and AffordableHousingOnline.com research.