Salary & Cost of Living in Lakewood, WA
Lakewood, WA: $52,000 median salary, cost of living index 98, $16.66/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$52,000
$25/hr
Cost of Living
98
US avg = 100
Minimum Wage
$16.66
per hour
Unemployment
4%
rate
Lakewood, WA Overview
Population
63,612
Median Salary
$52,000
Average Salary
$58,000
Avg Commute
25 min
Median Home Price
$350,000
Median Rent
$1,300/mo
Job Growth
+1.5%
Sales Tax
10%
Lakewood is located in Washington with a population of 63,612. The median household salary is $52,000 per year ($25/hour), which is $7,384 below the national median of $59,384. The average commute time is 25 minutes, and the city has a job growth rate of +1.5%.
Lakewood Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Lakewood, WA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$43,821
$3,651.71/month · $1,685.40/biweekly · Effective Rate: 15.7%
Gross Pay
$52,000
Federal Tax
-$4,202
State Tax
$0
Local Tax
$0
FICA
-$3,978
Net Pay
$43,821
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $4,333.33 | $52,000.00 |
| Federal Income Tax | -$350.13 | -$4,201.50 |
| Washington State Tax (0%) | $0.00 | $0.00 |
| Social Security (6.2%) | -$268.67 | -$3,224.00 |
| Medicare (1.45%) | -$62.83 | -$754.00 |
| Net Take-Home Pay | $3,651.71 | $43,820.50 |
Salary Comparison: Lakewood vs Other Cities
See how Lakewood's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Lakewood, WA | $52,000 | 98 | $53,061 |
| National Average | $59,384 | 100 | $59,384 |
| Auburn, AL | $52,000 | 90 | $57,778 |
| Bakersfield, CA | $52,000 | 96 | $54,167 |
| Fontana, CA | $52,000 | 102 | $50,980 |
| Oxnard, CA | $52,000 | 118 | $44,068 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Lakewood
Lakewood's cost of living index is 98 (national average = 100). Living in Lakewood is 2% less expensive than the national average.
Median Home Price
$350,000
Median Monthly Rent
$1,300
Annual Rent Cost
$15,600
Your Salary's Purchasing Power
Your $43,821 annual take-home pay in Lakewood has the purchasing power of approximately $44,715 in an average-cost US area. Your $52,000 salary stretches further here than in most US cities.
Top Industries in Lakewood
Lakewood's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $52,000.
Salary Tips for Lakewood Workers
- No state income tax advantage. Washington has no state income tax, which means more of your paycheck stays in your pocket. Invest the savings in a Roth IRA or 401(k) for long-term growth.
- Research top industries. Lakewood's top industries include Military, Healthcare, Retail. Targeting roles in these sectors can help you earn above the $52,000 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Lakewood, WA?
The median salary in Lakewood, WA is $52,000 per year, or $25 per hour. The average salary is $58,000. This is $7,384 below the national median of $59,384.
What is the cost of living in Lakewood, WA?
Lakewood's cost of living index is 98 (national average = 100), meaning it is 2% less expensive compared to the national average. The median home price is $350,000 and the median monthly rent is $1,300.
What are the best industries in Lakewood?
The top industries in Lakewood, WA include Military, Healthcare, Retail. The city has a job growth rate of 1.5% and an unemployment rate of 4%. Workers in these industries often earn above the city's median salary of $52,000.
How does Lakewood's salary compare to other cities?
Lakewood's median salary of $52,000 is 12.4% below the national median of $59,384. However, when adjusted for cost of living (index: 98), the real purchasing power is approximately $53,061.
What is the minimum wage in Lakewood, WA?
The minimum wage in Lakewood, WA is $16.66 per hour. This equals approximately $34,653 per year for a full-time worker (40 hours/week). This is $9.41 above the federal minimum wage of $7.25/hour.