Lakewood, CO Cost Of Living
Cost Of Living In Lakewood, CO Summary
Cost of living in Lakewood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lakewood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Colorado, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lakewood is 115, with 100 being the average.
The cost of living index in Lakewood is 1.1x higher than the national average.
Lakewood ranks as the #64 cheapest in Colorado out of 111.
Lakewood ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in Lakewood is $428,800.
The median income in Lakewood is $75,343.
Table Of Contents
Lakewood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lakewood, CO?
According to the most recent data on the cost of living, Lakewood has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Colorado, Lakewood has a cost of living index that's 1.1x higher than Colorado's index of 104.
The standard of living in Lakewood ranks as #64 most affordable out of the 111 places we measured in Colorado. By definition, that implies Lakewood ranks as the #47 most expensive place in the Centennial State.
For more reading on life in Lakewood, check out:
- Living In Lakewood
- Lakewood Crime Report
- Search Homes For Sale In Lakewood, CO
In Colorado
In America
Lakewood Cost Of Living Vs. Colorado
Six factors go into calculating the cost of living index in Lakewood. Here is how it fairs on each of the criteria:
The Services index in Lakewood is 111.
The Groceries index in Lakewood is 94.
The Health index in Lakewood is 101.
The Housing index in Lakewood is 139.
The Transportation index in Lakewood is 114.
The Utilities index in Lakewood is 80.
| Living Expense | Lakewood | Colorado | National Average | |
|---|---|---|---|---|
| Overall | 115 | 104 | 100 | |
| Services | 111 | 102 | 100 | |
| Groceries | 94 | 99 | 100 | |
| Health | 101 | 100 | 100 | |
| Housing | 139 | 116 | 100 | |
| Transportation | 114 | 104 | 100 | |
| Utilities | 80 | 90 | 100 | |
Lakewood, CO Housing Cost Breakdown
Housing swings affordability the most between places in Colorado, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Lakewood is $428,800.
The Median Rent in Lakewood is $1,506.
The Median Income in Lakewood is $75,343.
The Home Value To Income in Lakewood is 5.7x.
The Rent To Monthly Income in Lakewood is 0.24x.
| Statistic | Lakewood | Colorado | United States |
|---|---|---|---|
| Median Home Value | $428,800 | $397,500 | $244,900 |
| Median Rent | $1,506 | $1,437 | $1,163 |
| Median Income | $75,343 | $80,184 | $69,021 |
| Home Value To Income | 5.7x | 5.0x | 3.5x |
| Rent To Monthly Income | 0.24x | 0.22x | 0.2x |
Median Home Value
Median Rent
Median Income
Lakewood, CO Costs By Category
Detailed Lakewood Services Costs Vs. Colorado
Detailed Lakewood Groceries Costs Vs. Colorado
Detailed Lakewood Health Costs Vs. Colorado
Detailed Lakewood Transportation Costs Vs. Colorado
Detailed Lakewood Utilities Costs Vs. Colorado
Lakewood SnackAbility
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Cost Of Living In Cities Around Lakewood
The cost of living varies in the cities and towns around Lakewood. Here's a quick look at the cost of living in the most populous nearby places:
Denver, CO has a cost of living index of 116, 1.0x Lakewood.
Dakota Ridge, CO has a cost of living index of 115, 1.0x Lakewood.
Englewood, CO has a cost of living index of 111, 1.0x Lakewood.
| City | Population | Cost Of Living | Vs. Lakewood |
|---|---|---|---|
| Denver, CO | 706,799 | 116 | 1.0x |
| Dakota Ridge, CO | 34,361 | 115 | 1.0x |
| Englewood, CO | 33,500 | 111 | 1.0x |
| Wheat Ridge, CO | 32,340 | 110 | 1.0x |
| Sherrelwood, CO | 20,069 | 98 | 0.9x |
| Golden, CO | 20,041 | 127 | 1.1x |
| Welby, CO | 16,260 | 97 | 0.8x |
| Federal Heights, CO | 14,111 | 80 | 0.7x |
| Berkley, CO | 10,920 | 99 | 0.9x |
| Applewood, CO | 8,236 | 130 | 1.1x |
