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