Lakewood, CO Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
115
Lakewood's Overall Cost Of Living
1.1x
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:

64 out of 111
In Colorado
4,492 out of 6,412
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
For more reading on cost of living around Colorado, check out:
Lakewood Cost of Living Vs. CO

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
Search Homes For Sale In Lakewood, CO
$428,800
Median Home Value
$1,506
Median Rent
$75,343
Median Income

Lakewood, CO Costs By Category

Detailed Lakewood Services Costs Vs. Colorado

Item Lakewood Colorado
Shampoo $0.98 $1.06
Movie $12.9 $10.68
Bowling $19.78 $14.67
Haircut $21.67 $18.62
Beauty Salon $44.29 $39.05

Detailed Lakewood Groceries Costs Vs. Colorado

Item Lakewood Colorado
Ground Beef $4.11 $4.22
Fried Chicken $1.48 $1.39
Milk $1.76 $2.05
Potatoes $3.05 $3.29
Pizza $12.49 $10.62
Beer $8.98 $9.38
Toothpaste $1.89 $2.34

Detailed Lakewood Health Costs Vs. Colorado

Item Lakewood Colorado
Optometrist $104.86 $108.57
Doctor $111.77 $116.17
Dentist $105.51 $99.13

Detailed Lakewood Transportation Costs Vs. Colorado

Item Lakewood Colorado
Gasoline $2.49 $2.22
Tire Balancing $57.16 $50.07

Detailed Lakewood Utilities Costs Vs. Colorado

Item Lakewood Colorado
All Electricity $105.51 $167.67
Phone $186.48 $175.64

Lakewood SnackAbility

8
/10
Overall SnackAbility
Jobs
8/10
Housing
9
Affordability
4
Diversity
8.5
Safety
3
Amenities
9.5
Education
8.5
Commute
6

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

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