Crown Pointe Apartments
Lakewood Meadows Apartments
5304 San Francisco Ave SW Unit F-22
10804-10810 Davisson Rd SW Unit 10806 Davisson Road SW
There are 490 low-income apartments in Lakewood that offer reduced rents to eligible households. Low-income rents in Lakewood, Washington can range from $1,229 to $1,331 depending on the number of bedrooms.
Rental assistance programs support 18 low-income homes in Lakewood where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $366 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving 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.
| Housing Authority | Programs |
|---|---|
| Pierce County Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Lakewood, Washington Affordable Housing Data
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.
2024 Lakewood, Washington Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Lakewood, Washington Fair Market Rent | $1,430 | $1,603 | $1,987 | $2,800 | $3,236 |
| Lakewood, Washington Payment Standard Range | $1,287 to $1,573 | $1,443 to $1,763 | $1,788 to $2,186 | $2,520 to $3,080 | $2,912 to $3,560 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Lakewood, WA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 16 |
|---|---|
| Total Low Income Apartments | 705 |
| Total Housing Units with Rental Assistance | 18 |
| Percentage of Housing Units Occupied By Renters | 53.82% |
| Average Renter Household Size | 2.30 |
| Average Household Size | 2.40 |
| Median Household Income | $44,902 ±$2,516 |
| Median Rent | $846 ±$21 |
| Percentage Of Renters Overburdened | 54.7% ± 4.12pp |
| Total Population | 59,122 |
Population and Household Demographics
Lakewood is a city in Pierce County, Washington with a population of 59,122. There are 24,140 households in the city with an average household size of 2.40 persons. 53.82% of households in Lakewood are renters.
Income and Rent Overburden in Lakewood
The median gross income for households in Lakewood is $44,902 a year, or $3,742 a month. The median rent for the city is $846 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lakewood, a household making less than $2,820 a month would be considered overburdened when renting an apartment at or above the median rent. 54.7% of households who rent are overburdened in Lakewood.
Area Median Income In Lakewood
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Lakewood, the AMI is calculated from all households within Pierce County.
In Lakewood, HUD calculates the Area Median Income for a family of four as $112,600
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Lakewood
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Lakewood
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Lakewood AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$22,600 | $25,800 | $29,050 | $32,250 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Lakewood AMI may qualify for rental assistance programs that target Very Low Income households. |
$37,650 | $43,000 | $48,400 | $53,750 | $58,050 | $62,350 | $66,650 | $70,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Lakewood AMI may qualify for rental assistance programs that target Low Income households. |
$60,200 | $68,800 | $77,400 | $86,000 | $92,900 | $99,800 | $106,650 | $113,550 |
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