What is the cost of living in Lakewood, NJ?
According to the most recent data on the cost of living, Lakewood has an overall cost of living index of 151, which is 1.5x higher than the national index of 100.
Compared to New Jersey, Lakewood has a cost of living index that's 1.2x higher than New Jersey's index of 125.
The standard of living in Lakewood ranks as #202 most affordable out of the 262 places we measured in New Jersey. By definition, that implies Lakewood ranks as the #60 most expensive place in the Garden State.
For more reading on life in Lakewood, check out:
Lakewood Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Lakewood. Here is how it fares on each of the criteria:
The Services index in Lakewood is 104.
The Groceries index in Lakewood is 114.
The Health index in Lakewood is 241.
The Housing index in Lakewood is 114.
The Transportation index in Lakewood is 114.
The Utilities index in Lakewood is 112.
| Living Expense | Lakewood | New Jersey | National Average |
|---|---|---|---|
| Overall | 151 | 125 | 100 |
| Services | 104 | 107 | 100 |
| Groceries | 114 | 113 | 100 |
| Health | 241 | 155 | 100 |
| Housing | 114 | 116 | 100 |
| Transportation | 114 | 112 | 100 |
| Utilities | 112 | 113 | 100 |
Lakewood Cost Of Living Compared To New Jersey Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around New Jersey, check out:
Protect your home budget Compare home warranties in Lakewood Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Lakewood, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Lakewood is $576,895.
The Median Rent in Lakewood is $1,718.
The Median Income in Lakewood is $56,968.
The Home Value To Income in Lakewood is 10.1x.
The Rent To Monthly Income in Lakewood is 0.36x.
| Statistic | Lakewood | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $576,895 | $569,411 | $332,700 |
| Median Rent | $1,718 | $1,720 | $1,413 |
| Median Income | $56,968 | $103,556 | $80,734 |
| Home Value To Income | 10.1x | 5.5x | 4.1x |
| Rent To Monthly Income | 0.36x | 0.2x | 0.21x |
Lakewood, NJ Costs By Category
Detailed Lakewood Services costs vs. New Jersey
| Item | Lakewood | New Jersey |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.53 | $12.13 |
| Bowling | $20.98 | $18 |
| Haircut | $30.25 | $24.26 |
| Beauty Salon | $53.0 | $45.56 |
Detailed Lakewood Groceries costs vs. New Jersey
| Item | Lakewood | New Jersey |
|---|---|---|
| Ground Beef | $6.13 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.7 | $4.67 |
| Potatoes | $5.32 | $4.93 |
| Pizza | $12.59 | $12.09 |
| Beer | $11.12 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Lakewood Health costs vs. New Jersey
| Item | Lakewood | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Lakewood Transportation costs vs. New Jersey
| Item | Lakewood | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Lakewood Utilities costs vs. New Jersey
| Item | Lakewood | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Lakewood SnackAbility
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:
Toms River, NJ has a cost of living index of 128, 0.8x Lakewood.
Tinton Falls, NJ has a cost of living index of 139, 0.9x Lakewood.
West Freehold, NJ has a cost of living index of 140, 0.9x Lakewood.
| City | Population | Cost Of Living | Vs. Lakewood |
|---|---|---|---|
| Toms River, NJ | 94,956 | 128 | 0.8x |
| Tinton Falls, NJ | 19,361 | 139 | 0.9x |
| West Freehold, NJ | 14,883 | 140 | 0.9x |
| Freehold, NJ | 12,507 | 130 | 0.9x |
| Pine Lake Park, NJ | 9,795 | 123 | 0.8x |
| Twin Rivers, NJ | 8,382 | 121 | 0.8x |
| Yorketown, NJ | 7,261 | 142 | 0.9x |
| Lincroft, NJ | 6,939 | 151 | 1.0x |
| Ramtown, NJ | 6,203 | 142 | 0.9x |
| Little Silver, NJ | 6,105 | 195 | 1.3x |
