Español

Este sitio también está en español. Leer en español

City · 13,100 residents · King County, Washington

Lakeland South , Washington

In Lakeland South, a typical home is worth $589,300 and typical rent is $1,899 a month. Compared with all of King County, the typical home value is 31% lower, typical household income is 11% lower, and the share of households that own their home is 20 points higher.

WhatsApp

  • Typical home value

    $589,300

    31% below the county

    4% above Washington

    • Lakeland South
    • King
    • Washington

  • Typical rent

    $1,899a month

    9% below the county

    8% above Washington

    • Lakeland South
    • King
    • Washington

  • Typical household income

    $110,735a year

    11% below the county

    13% above Washington

    • Lakeland South
    • King
    • Washington

  • Households that own their home

    76%

    20 points above the county

    12 points above Washington

    • Lakeland South
    • King
    • Washington

Source: U.S. Census Bureau, Average 2020–2024

Lakeland South is in King County. The FHA loan limit ($1,063,750 for a one-unit home), the fair market rents and the help on this page are those of all of King County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Lakeland South apart

What this place has that others do not, from public data, most unusual first.

  1. 76% of households in Lakeland South own their home, against 55% in King County.

  2. The typical home in Lakeland South is worth $589,300, 31% less than in King County as a whole ($859,900).

  3. Nearby, in Pacific, the typical home value is $489,100: 17% less than in Lakeland South ($589,300).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Lakeland South

What homes there are in Lakeland South, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Lakeland South, 8 in 10 homes are single-family detached houses; in King County, 5.

There are more mobile homes here than in King County: 12% of homes, against 1%.

Year built

In Lakeland South, half of the homes were built before 1986; in King County, before 1983.

There is more room for a big family here: 80% of homes have 3 bedrooms or more, against 50% in King County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,663 a month

King County: $3,273 a month

Without a mortgage

$905 a month

King County: $1,116 a month

Owners with a mortgage

76%

King County: 70%

In Lakeland South, 76% of owners have a mortgage, and their typical cost is $2,663 a month, against $3,273 in King County. Without one it drops to $905.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Lakeland South gained value faster than in King County: 82% against 57%.

Rent in Lakeland South moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureLakeland SouthKing CountyWashingtonUnited States
Rental vacancy Unreliable estimate5.3%4.5%5.5%
Homeowner vacancy Unreliable estimate0.7%0.7%0.9%
More than one person per room Unreliable estimate3.9%3.5%3.4%
People per household 3.122.392.502.53
Drive alone 73%50%63%69%
Carpool 10%7%9%9%
Public transit Unreliable estimate7%3%3%
Walk or bike Unreliable estimate5%4%3%
Work from home 14%29%20%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

On average, a household in Lakeland South has 3.12 people, more than in King County (2.39).

Carpooling is common in Lakeland South: 10% of workers get to work that way, against 7% in King County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Lakeland South?

A typical home costs more than the typical income allows

We start with a typical home in Lakeland South, worth $589,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 53% of the typical household income in Lakeland South, which is $110,735 a year. For that payment to be 28% of income, a household would need to earn about $210,101 a year.

The calculator's FHA and conventional loan limits are those of all of King County.

Your numbers

Local data
$

Starts at the typical home value in Lakeland South. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $20,626 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$4,902

at 7.18% · 30 years

Loan amount
$578,626
Total interest
$832,507
Paid off in
November 2056

Includes $9,952 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,584 a month

  • Tight

    $2,584 to $3,322 a month

  • Hard

    more than $3,322 a month

    Your payment · 53%

Compared with the typical household income in Lakeland South ($110,735 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$4,902
Principal & interest$3,920
Property tax$476
Home insurance$246
FHA mortgage insurance (MIP)$261

You need at least $20,626 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Lakeland South and King County

Lakeland South is in King County, Washington. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Lakeland South's own numbers

Typical home value
$589,300
Typical monthly rent
$1,899
Typical yearly household income
$110,735
Households that own their home
76%
Effective property tax rate
0.97%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of King County

FHA limit, one-unit home
$1,063,750
Conventional limit, one unit
$1,063,750
HUD fair market rent, 2 bedrooms
$2,549
Price change over 5 years (FHFA)
+37%
Homes in a high flood-risk zone
1%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of King County.

Everything about King County

Buying

Buying a home in Lakeland South

A typical home in Lakeland South is worth $589,300: 31% below the county and 4% above Washington. With the typical household income in Lakeland South ($110,735 a year), a typical home costs 5.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Lakeland South 5.3 years
  • King 6.9 years
  • Washington 5.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in King County

According to FHFA’s house price index, home prices in King County rose 101% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of King County.

Period County Washington U.S.
Last year (2025) +0.9% +1.8% +2.9%
5 years (2020–2025) +37% +44% +47%
10 years (2015–2025) +101% +113% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Lakeland South next to King County, Washington and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Lakeland South $589,300
  • King $859,900
  • Washington $564,600
  • United States $332,700
Typical monthly rent
  • Lakeland South $1,899
  • King $2,092
  • Washington $1,760
  • United States $1,413
Typical yearly household income
  • Lakeland South $110,735
  • King $124,746
  • Washington $98,141
  • United States $80,734
See the full table
Lakeland South next to King County and Washington
Measure Lakeland South King County Washington U.S.
Typical home value $589,300 $859,900 $564,600 $332,700
Typical monthly rent $1,899 $2,092 $1,760 $1,413
Typical yearly household income $110,735 $124,746 $98,141 $80,734
Households that own their home 76% 55% 64% 65%
Typical yearly property tax $5,710 $7,114 $4,556 $3,119
Effective property tax rate 0.97% 0.83% 0.81% 0.94%
Renters with high rent for their income 59% 47% 50% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below King County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Lakeland South

For a typical $589,300 home in Lakeland South, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Lakeland South's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $4,902a month

    Least cash to close
    Down payment
    $20,626
    Cash to close
    $38,305
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $261

  • Conventional, 5% down $4,794a month

    Down payment
    $29,465
    Cash to close
    $47,144
    Rate
    7.18%
    Mortgage insurance
    PMI · $280

  • Conventional, 20% down, no PMI $3,916a month

    Down payment
    $117,860
    Cash to close
    $135,539
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,460a month

    Down payment
    $88,395
    Cash to close
    $106,074
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Lakeland South and for King County.

Property tax

Effective rate in Lakeland South

0.97%of the home’s value each year

$5,710 a year for the typical owner in Lakeland South.

  • Lakeland South 0.97%
  • King 0.83%
  • Washington 0.81%

What Washington publishes Exemption for people 61 and older or with disabilities (Washington State Department of Revenue)

Exemptions and deadlines in Washington

Flood risk in King County

FEMA does not publish these numbers by city: they are for all of King County.

Homes in the high-risk zone
1%
5,797
Of those, with NFIP insurance
44%
County Washington U.S.
Homes in the high-risk zone 1% 1.6% 3.5%
Of those, with NFIP insurance 44% 40% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Lakeland South

Typical rent in Lakeland South is $1,899 a month: 9% below the county. In Lakeland South, 59% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of King County, by unit size. To pay the 2-bedroom one ($2,549 a month) without spending more than 30% of your income, you would need to earn $49.02 an hour working full time.

HUD fair market rent for all of King County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $2,091 $40.21 $83,640
1 bedroom $2,180 $41.92 $87,200
2 bedrooms $2,549 $49.02 $101,960
3 bedrooms $3,324 $63.92 $132,960
4 bedrooms $3,954 $76.04 $158,160

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Lakeland South

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Lakeland South has 2 ZIP codes with their own.

For 2 bedrooms it runs from $2,240 in 98003 to $2,600 in 98001.

1 of the 2 is above the fair market rent for King County ($2,549).

  • 98001 $2,600$3,390
  • 98003 $2,240$2,920

2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Lakeland South when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Lakeland South

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 4 HUD-approved agencies with an office in King County; 3 say they serve in Spanish.

A young man and a young woman look something up together on a laptop.

HUD counseling is free or low-cost

Assistance programs in Lakeland South

No down payment, repair or rent-help program on our list is for Lakeland South or King County. The ones below are statewide in Washington: they work in Lakeland South the same as in the rest of the state.

Which programs do I qualify for? All programs in Washington

  • Home Advantage Downpayment Assistance

    Statewide in Washington

    Washington state commission 0% second mortgage for 3%, 4% or 5% of the first mortgage, with no monthly payments; you do not need to be a first-time buyer. Offered by Washington State Housing Finance Commission.

    Deferred

    See the program Official page

  • Covenant Homeownership Program

    Statewide in Washington

    Washington state commission loan with no monthly payments of up to 20% of the price (maximum $150,000) plus closing costs, for first-time buyers whose family lived in Washington before 1968 and belonged to a group affected by housing discrimination, including Hispanic people. Offered by Washington State Housing Finance Commission.

    Deferred

    See the program Official page

  • House Key Opportunity DPA

    Statewide in Washington

    Washington state commission loan of up to $15,000 at 1% simple interest, with no monthly payments, for the down payment and closing costs of first-time buyers with the House Key Opportunity mortgage. Offered by Washington State Housing Finance Commission.

    Deferred

    See the program Official page

Housing counselors near Lakeland South

The HUD-approved agencies closest to the center of Lakeland South, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Tacoma/ Pierce County Habitat for Humanity

    4824 S Tacoma Way, Tacoma · 10 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    253-627-5626x120

  • Homesight

    4219 S Othello St Ste 130B, Seattle · 18 miles away · Spanish

    Also serves in Vietnamese.

    • Pre-purchase counseling
    • Homebuyer education workshops
    (206) 760-4205

  • El Centro de la Raza

    2524 16th Ave S, Seattle · 21 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (206) 957-4634

Every agency in King County All counseling agencies in Washington

Help in Spanish near Lakeland South

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Lakeland South

HUD’s record names them for Lakeland South or King County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Ha of King County Public housing and Section 8 vouchers (206) 574-1100

2 other authorities have an office in King County: see the list Source: HUD

Cities

Other cities in King County

These cities are also in King County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about King County Housing in Washington
See 28 more cities in King County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Lakeland South, with the typical home value.

Neighboring counties

If King County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Lakeland South.

All guides
A family roasts marshmallows over a campfire at a forest campsite.

Questions

Housing questions about Lakeland South

Short answers with the numbers for Lakeland South and all of King County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Lakeland South?

The typical home value in Lakeland South is $589,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in King County it is $859,900.

How much does it cost to rent in Lakeland South?

Typical rent in Lakeland South is $1,899 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in King County is $2,549.

What is the FHA loan limit in Lakeland South?

Lakeland South uses the FHA limit for all of King County (2026): $1,063,750 for a one-unit home and $2,045,700 for a four-unit home.

How much property tax do owners pay in Lakeland South?

The typical homeowner in Lakeland South pays $5,710 a year, according to the U.S. Census Bureau. That is 0.97% of the home’s value; in King County, the rate is 0.83%.

Where can I find free help to buy or rent in Lakeland South?

There are 4 HUD-approved counseling agencies with an office in King County. 3 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).