Puget Sound Waterfront on Key Peninsula

Apartments in Lakebay, WA

Welcome to Lakebay, a rural waterfront community on Pierce County's Key Peninsula, where forested homesteads and coves meet the southern end of Puget Sound.

Lakebay is a small waterfront community on the Key Peninsula in Pierce County, Washington, about 20 miles west of Tacoma and across the Tacoma Narrows from the Gig Harbor area. It sits along Mayo Cove and the broader shoreline of Carr Inlet at the southern end of Puget Sound, where forested hillsides meet tidal coves and marine waters. The name reflects the community's early association with a landing along the water, and Lakebay has long been tied to maritime activity, small-scale farming, and logging. Lakebay is one of several unincorporated hamlets strung along the Key Peninsula — alongside Key Center, Vaughn, Home, and Longbranch — a rural peninsula of roughly 20,000 people defined by forests, inlets, and quiet two-lane roads. The surrounding landscape alternates between dense second-growth woodland, small pasture, and waterfront, and the shoreline is broken into numerous sheltered coves used for moorage, shellfishing, and recreation. The community's defining natural asset is its saltwater setting. Penrose Point State Park, on Mayo Cove, preserves a 165-acre forested peninsula with nearly two miles of saltwater frontage, providing camping, trails, and beach access. Farther along the inlet, Joemma Beach State Park offers additional shoreline on the sound. The maritime character runs through daily life, with boat ramps, private docks, and shellfishing as common parts of the local routine. Lakebay remains a quiet, primarily residential place. It draws people seeking waterfront or wooded acreage, a slower pace, and easy access to Puget Sound, while still being within commuting distance of Tacoma, Bremerton, and the larger Puget Sound region. Services are limited, and residents typically travel to Gig Harbor or Purdy for shopping and amenities.

Real Property Associates, Inc.
Real Property Associates, Inc. Real Property Associates, Inc.

Get more information about Lakebay

Listings 108
Population 6,330
County Pierce

MARKET SNAPSHOT

The Market at a Glance

How homes have been selling here over the last 90 days.

home_work New This Week 4
Went Under Contract 0
trending_down Price Reductions 0
payments Median Sale Price $598,000 +12.8%
square_foot Price per Sq Ft $361
schedule Avg Days on Market 60
sell Homes Sold 27
percent Sale-to-List Ratio 100.0%
inventory_2 Months of Inventory 4.8

Price & Sales History

Market data reflects closed sales over the last 90 days and is provided for informational purposes.

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