| Index | Lakewood | California | National |
| Cost of living | 168 | 141 | 100 |
| Groceries | 110 | 111 | 100 |
| Health care | 116 | 116 | 100 |
| Housing | 290 | 197 | 100 |
| Transportation | 114 | 118 | 100 |
| Utilities | 121 | 119 | 100 |
| Lifestyle & Entertainment | 115 | 120 | 100 |
| Household Items | 110 | 111 | 100 |
| Education & Childcare | 129 | 127 | 100 |
Knowing the cost of living in Lakewood allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Lakewood stands at 168, marking it 68% higher than the national average.
If you prioritize affordability when seeking a new place to live, Lakewood may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Lakewood falls into this category, which may not align with your preferences for a budget-friendly living environment.
Housing costs make up a big chunk of the cost of living in Lakewood, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 190.3% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
The routine items you regularly buy for your home, such as cleaning supplies, personal care products, clothing basics, and kitchen essentials, make up 8% of the cost of living index. In Lakewood, these items cost 10.4% more than the national average, making day-to-day living a bit more expensive.
Is Lakewood an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Lakewood, the median home price is 228.9% higher than what most folks pay across the country, and monthly rent prices are 100.1% higher than the usual rates. Income levels in Lakewood come in at $140,908, which is 73.2% higher than the national average.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Lakewood, the utilities index is 21.4% higher than the national average.
Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Lakewood, the transportation index stands at 13.5% higher than the national average.
The cost of living data for Lakewood shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $162,715 | $13,560 | $3,796 | $4,882 |
| Renters | $104,941 | $8,745 | $2,448 | $3,149 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Vernon, CA | 254 | 117 | 16.8% |
| Rolling Hills CDP, CA | 855 | 133 | 33.4% |
| Willowbrook, CA | 25,347 | 136 | 36.0% |
| East Rancho Dominguez, CA | 15,765 | 136 | 36.3% |
| Florence-Graham, CA | 66,603 | 138 | 38.2% |
| Lakewood, CA | 81,936 | 168 | 68.0% |
| City | Population | Cost of Living Index | National Avg. |
| Kawartha Lakes, ON | 81,906 | n/a | |
| Lawrence, MA | 82,025 | 125 | 25.4% |
| Prince George, BC | 82,094 | n/a | |
| Caledon, ON | 82,130 | n/a | |
| Mountain View, CA | 82,261 | 285 | 184.5% |
| Lakewood, CA | 81,936 | 168 | 68.0% |
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