| Index | Lakewood | Colorado | National |
| Cost of living | 135 | 115 | 100 |
| Groceries | 104 | 104 | 100 |
| Health care | 109 | 107 | 100 |
| Housing | 198 | 136 | 100 |
| Transportation | 106 | 106 | 100 |
| Utilities | 110 | 108 | 100 |
| Lifestyle & Entertainment | 111 | 107 | 100 |
| Household Items | 108 | 105 | 100 |
| Education & Childcare | 117 | 111 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Lakewood? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Lakewood stands at 135, making it 35% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
If you value affordability in your search for a new place to live, Lakewood may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Lakewood falls into this category, which may not align with your desire for an affordable place to call home.
When it comes to the cost of living in Lakewood, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 98.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The real experts on a city are its residents. That's why we reached out to 12 locals to get their views on the cost of living in Lakewood. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 42% found it budget-friendly with decreasing prices, while 58% said it's simply not affordable as prices have continued to rise.
Is Lakewood affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Lakewood, for instance, where the median home price falls 119.2% higher than the national average, and monthly rent rates are 49.6% higher than usual. Additionally, median income levels contribute to the equation, with Lakewood flaunting a median household income of $104,648, 28.7% higher than the national norm.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Lakewood, the groceries index registers 3.8% higher than the national average.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Lakewood, the housing index is 98.3% higher than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Lakewood, the utilities index stands at 10.3% 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 | $140,607 | $11,717 | $3,281 | $4,219 |
| Renters | $75,000 | $6,250 | $1,750 | $2,250 |
| State | General Sales Tax | With Max Surtax |
| Colorado | 2.9% | 10% |
| State | Income Tax (Low) | Income Tax (High) |
| Colorado | 4.4% | 4.4% |
| City | Population | Cost of Living Index | National Avg. |
| Glendale CDP, CO | 80 | 109 | 9.1% |
| Lakeside, CO | 6 | 90 | 10.0% |
| Federal Heights, CO | 14,024 | 95 | 5.1% |
| North Washington, CO | 676 | 99 | 0.9% |
| Coal Creek town, CO | 318 | 105 | 5.4% |
| Lakewood, CO | 159,208 | 135 | 35.4% |
| City | Population | Cost of Living Index | National Avg. |
| Barrie, ON | 159,618 | n/a | |
| Palmdale, CA | 158,635 | 130 | 30.2% |
| Coquitlam, BC | 159,980 | n/a | |
| Macon-Bibb County, GA | 158,411 | 93 | 7.2% |
| Abbotsford, BC | 160,174 | n/a | |
| Lakewood, CO | 159,208 | 135 | 35.4% |
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