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CITY OF LAKEWOOD | ECONOMIC INDICATORS | 2ND QUARTER 2019
Total Jobs
Industry 2012 2014 2016 2018 Agriculture, Forestry, Fishing and Hunting
52 51 48 47
Mining, Quarrying, and Oil and Gas Extraction
- - - -
Utilities 60 57 63 63
Construction 1,026 1,149 1,295 1,548
Manufacturing 903 921 956 997
Wholesale Trade 868 1,038 887 880
Retail Trade 3,114 3,470 3,867 3,987
Transportation and Warehousing 1,815 2,222 2,154 2,031
Information 211 246 225 229
Finance and Insurance 898 853 920 978
Real Estate and Rental and Leasing 599 620 620 772
Professional, Scientific, and Technical Services
842 900 978 906
Management of Companies and Enterprises
3 4 2 2
Administrative and Support and Waste Management and Remediation Services
762 738 950 1,000
Educational Services 3,300 3,278 3,548 3,590
Health Care and Social Assistance 9,192 9,737 10,808 11,158
Arts, Entertainment, and Recreation 984 979 1,039 1,110
Accommodation and Food Services 2,440 2,529 2,692 2,832
Other Services (except Public Administration)
1,993 1,385 1,446 1,488
Public Administration 654 602 590 478
Total 29,714 30,778 33,088 34,096
General Demographics and
Statistics Incorporation 1996
Government Style Council-Manager
Population 59,670
Households 24,453
Homeownership 10,846
Median Household Income
$47,636
Residents with a Minimum 4 Year Degree
20.9%
Active General Business Licenses
6,174
Assessed Property Value
$6 Billion (estimate)
Neighborhood Associations
4
Citizen Advisory Boards
10
Land Area 17.2 sq mi
Water Area 1.8 sq mi
Median Resident Age 35.6
Percent below poverty 19.3%
Source: City of Lakewood
Public Safety
Sworn Police Officers 99
Patrol Units 48
Calls for Service, 2018 47,910
EMS/Rescue responses, 5,204
Number of Fire Personnel 143
Source: City of Lakewood; West Pierce Fire and
Rescue
Income
Type/ Year
Median Household Income
Mean Household Income Mean Family Income Per Capital Income
2010 2017 2010 2017 2010 2017 2010 2017 Washington State
$57,277 $66,174 $74,331 $88,563 $86,528 $103,318 $29,733 $34,869
Pierce County
$57,869 $63,881 $70,845 $80,909 $81,169 $93,028 $27,446 $31,157
City of Tacoma
$47,862 $55,506 $61,452 $70,533 $72,541 $84,018 $25,377 $29,420
City of Lakewood
$42,476 $47,636 $62,326 $63,638 $78,518 $76,982 $26,760 $26,982
Health Insurance Coverage
Privately Insured Publicly Insured No Insurance Under 19 with no insurance
Washington State
X 70.8% X 33.5% X 8.3% X 3.8%
City of Lakewood
X 60.4% X 46.7% X 10.9% X 4.6%
Source: American FactFinder (Census Bureau)
Culture and Recreation
Libraries 2
Developed Parks 14
Natural Area Parks 11
Parks & Open Space Acreage 617
Fort Steilacoom Park Acreage 340
Public Golf Courses 2
Adult Community Center 1
Source: City of Lakewood
Clover Park School District Student Enrollment School Year 2016-2017 2017-2018 2018-2019 2019-2020
# of Students Enrolled
13,231 13,308 12,953 13,545
Source: Clover Park School District
Adjusted 4-Year Cohort Graduation Rate Graduating Class 2016 2017 2018
Clover Park High School 85% 83.6% 84.2%
Lakes High School 95.3% 94% 91.9%
Harrison Preparatory School 100% 100% 100%
District 89.9% 88.7% 88.6%
Source: Washington State Office of Superintendent of Public Instruction; Clover Park School
District
Regional & National Index
Date June 30, 2017 June 30, 2018 June 30, 2019
Consumer Price Index (CPI) Seattle-Tacoma-Bellevue
263.756 272.395 278.631
National Prime Lending Rate
4.25 5.00 5.50
Dow Jones Industrial Average
21,349.63 24,271.41 26,599.96
NASDAQ 6,140.42 7,510.30 8,006.24
Sources: Google Finance, Yahoo Finance, JP Morgan Chase, U.S. Bureau of Labor Statistics
Source: Workforce Central; Chmura JobsEQ
CITY OF LAKEWOOD | ECONOMIC INDICATORS | 2ND QUARTER 2019
Business Operations Type Number
Homebased in Lakewood 856
Commercial location in Lakewood 2,844
Doing business (located elsewhere) 2,396
Nonprofit 78
TOTAL 6,174
Top Employers – Private Sector
Employer Number of Employees
St Clare Hospital/Franciscan 682
Aacres WA LLC 467
McLane Northwest 440
Walmart Supercenter 402
Greater Lakes Mental Health 362
Source: City of Lakewood
Top Employers – Public Sector
Employer Number of Employees
JBLM (includes Madigan, 5,580) 54,000
Western State Hospital 2,600
Clover Park School District 1,667
Pierce College 1,239
Camp Murray 1,050
Source: City of Lakewood
Property Tax City of Lakewood $14.43
City of Tacoma $15.76
City of Puyallup $12.96
Per $1,000 Assessed Property Value
Source: Pierce County Assessor
Average Daily Traffic
Volume Bridgeport Way & Pacific Highway
29,532
Gravelly Lake Dr. & 100th Street
19,554
South Tacoma Way & Steilacoom
31,102
Source: City of Lakewood
Average Day Time
Population Day Time Population 66,085
Within 3 mile radius 94,851
Source: Demographics Now
Building Permits Issued Class Type YTD Q2
2018 Value YTD Q2
2019 Value
Single Family
Roof 29 $14,325 41 $15,068
Additions 22 $35,507 18 $25,618
Remodel/add 122 $167,351 113 $109,184
New 47 $15,088,781 9 $2,703,254
Commercial
New 8 $30,737.31 3 $8,210.62
New MultiFamily 4 $22,186,133 0 -
Remodel 57 $6,032,320 71 $3,467,096
All Permits as of Q2 846 $71,032,658 1200 $14,647,920
Source: City of Lakewood
Our mission is to improve the
economic well-being of Lakewood
through efforts that increase job
creation, job retention, tax base
enhancements and quality of life.
Residential Real Estate
2017 2018 November 1, 2019 stats
Median Sales Price
$ 288,500. $ 310,000 Median List Price $412,450
Average List Price
$ 502,450 $ 523,340 MoM Change -5.18%
Residential Active Listings
779 797 Average List Price $620,398
Closed Single Family Sales
655 651 Price Per Sq Ft $239.97
Average Days on the Market
37 36 Average Days on Market
56
Source: Pat Brewer, CRS., GRI, ABR., ePro Realtor; Pierce County Real Estate (November stats)
REALTOR
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$180
$200
$220
$240
$260
$280
$300
$320
$340
$360
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Mill
ion
s
Mill
ion
s
Lakewood Taxable Retail Sales
Q1 Q2 Q3 Q4 Full Year
Vacancy Rates 5-yr Avg 2018
Multifamily 1.5% 2.0%
Office 8.4% 6.4%
Retail 5.9% 4.0%
Industrial 7.7% 0.7%
Source: CoStar
Annual Property Tax Collected
Year Total Annual
Revenue
2014 $6,468,617
2015 $6,563,936
2016 $6,642,052
2017 $6,741,607
2018 $6,910,944
Source: City of Lakewood
City obligation and debt bond rating
Standard & Poor’s AA
Non-Voted Bonds Outstanding
$3,466,120
Debt-Capacity for Non-Voted Bonds (General Purpose)
$86,575,626
Source: City of Lakewood
2018 Rental Housing Safety Program Stats
2018 Rental Inspection Data Number
Rental Properties 3,346
Unregistered 1,127
Registered 2,219
Rental Units 13,298
Unregistered 1,970
Registered 11,328
Initial Property Inspections 499
Multifamily Inspections 167
Single Family Inspections 208
Duplex Inspections 124
Results – Properties Passed 234
Results – Properties Failed 1,543
Re-inspections – Passed 203
Re-inspections – Failed 18* *12 passed 3rd inspection; 6 remained to be
inspected (as of March 2019) Common Inspection Items Failed