Lakewood, WA Cost Of Living
Cost Of Living In Lakewood, WA 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 Washington, 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 Washington out of 192.
Lakewood ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in Lakewood is $331,500.
The median income in Lakewood is $60,534.
Table Of Contents
Lakewood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lakewood, WA?
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 Washington, Lakewood has a cost of living index that's 1.0x lower than Washington's index of 115.
The standard of living in Lakewood ranks as #64 most affordable out of the 192 places we measured in Washington. By definition, that implies Lakewood ranks as the #128 most expensive place in the Evergreen State.
For more reading on life in Lakewood, check out:
- Living In Lakewood
- Lakewood Crime Report
- Search Homes For Sale In Lakewood, WA
In Washington
In America
Lakewood Cost Of Living Vs. Washington
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 109.
The Groceries index in Lakewood is 119.
The Health index in Lakewood is 123.
The Housing index in Lakewood is 113.
The Transportation index in Lakewood is 135.
The Utilities index in Lakewood is 95.
| Living Expense | Lakewood | Washington | National Average | |
|---|---|---|---|---|
| Overall | 115 | 115 | 100 | |
| Services | 109 | 112 | 100 | |
| Groceries | 119 | 109 | 100 | |
| Health | 123 | 119 | 100 | |
| Housing | 113 | 129 | 100 | |
| Transportation | 135 | 116 | 100 | |
| Utilities | 95 | 90 | 100 | |
Lakewood, WA Housing Cost Breakdown
Housing swings affordability the most between places in Washington, 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 $331,500.
The Median Rent in Lakewood is $1,183.
The Median Income in Lakewood is $60,534.
The Home Value To Income in Lakewood is 5.5x.
The Rent To Monthly Income in Lakewood is 0.23x.
| Statistic | Lakewood | Washington | United States |
|---|---|---|---|
| Median Home Value | $331,500 | $397,600 | $244,900 |
| Median Rent | $1,183 | $1,439 | $1,163 |
| Median Income | $60,534 | $82,400 | $69,021 |
| Home Value To Income | 5.5x | 4.8x | 3.5x |
| Rent To Monthly Income | 0.23x | 0.21x | 0.2x |
Median Home Value
Median Rent
Median Income
Lakewood, WA Costs By Category
Detailed Lakewood Services Costs Vs. Washington
| Item | Lakewood | Washington |
|---|---|---|
| Shampoo | $1.28 | $1.06 |
| Movie | $10.77 | $10.68 |
| Bowling | $14.67 | $14.67 |
| Haircut | $23.8 | $18.62 |
| Beauty Salon | $36.61 | $39.05 |
Detailed Lakewood Groceries Costs Vs. Washington
| Item | Lakewood | Washington |
|---|---|---|
| Ground Beef | $5.43 | $4.22 |
| Fried Chicken | $1.59 | $1.39 |
| Milk | $2.35 | $2.05 |
| Potatoes | $3.17 | $3.29 |
| Pizza | $12.99 | $10.62 |
| Beer | $10.22 | $9.38 |
| Toothpaste | $2.79 | $2.34 |
Detailed Lakewood Health Costs Vs. Washington
| Item | Lakewood | Washington |
|---|---|---|
| Optometrist | $196.22 | $108.57 |
| Doctor | $133.79 | $116.17 |
| Dentist | $131.09 | $99.13 |
Detailed Lakewood Transportation Costs Vs. Washington
| Item | Lakewood | Washington |
|---|---|---|
| Gasoline | $2.92 | $2.22 |
| Tire Balancing | $68.92 | $50.07 |
Detailed Lakewood Utilities Costs Vs. Washington
| Item | Lakewood | Washington |
|---|---|---|
| All Electricity | $135.4 | $167.67 |
| Phone | $198.87 | $175.64 |
Lakewood SnackAbility
/10
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:
Plano, TX has a cost of living index of 114, 1.0x Lakewood.
Frisco, TX has a cost of living index of 120, 1.0x Lakewood.
Carrollton, TX has a cost of living index of 105, 0.9x Lakewood.
| City | Population | Cost Of Living | Vs. Lakewood |
|---|---|---|---|
| Plano, TX | 282,181 | 114 | 1.0x |
| Frisco, TX | 193,140 | 120 | 1.0x |
| Carrollton, TX | 131,388 | 105 | 0.9x |
| Richardson, TX | 115,904 | 110 | 1.0x |
| Allen, TX | 102,778 | 110 | 1.0x |
| Flower Mound, TX | 75,050 | 117 | 1.0x |
| Little Elm, TX | 45,124 | 107 | 0.9x |
| The Colony, TX | 43,489 | 102 | 0.9x |
| Coppell, TX | 42,420 | 121 | 1.1x |
| Southlake, TX | 30,754 | 150 | 1.3x |
