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Cost of Living in Lakewood

Is it better to rent or buy in Lakewood? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$65,373
$1,653/mo

Median in area: $1,653

$687,166

Median in area: $687,166

$137,433

If you Rent

🔑
$1,874 /mo
Base Rent$1,653
Est. Utilities$221
% of Income34.4%
Pre-tax Residual$3,574

If you Buy

🏠
$5,012 /mo
P&I (6.595%)$3,509
Taxes & Ins$1,282
Est. Utilities$221
% of Income92.0%
Pre-tax Residual$436

Cost of Living FAQs

Is it cheaper to rent or buy in Lakewood?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lakewood. The estimated all-in monthly cost for renting is $1,874, while owning a median-priced home with a 20% down payment is roughly $5,012 per month (a difference of $3,138).

How much do utilities cost in Lakewood?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lakewood is approximately $221. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lakewood?›

To comfortably afford the median rent and utilities in Lakewood without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $74,960 per year.