What is the cost of living in Lakewood, OH?
According to the most recent data on the cost of living, Lakewood has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to Ohio, Lakewood has a cost of living index that's 1.0x higher than Ohio's index of 90.
The standard of living in Lakewood ranks as #180 most affordable out of the 284 places we measured in Ohio. By definition, that implies Lakewood ranks as the #104 most expensive place in the Buckeye State.
For more reading on life in Lakewood, check out:
Lakewood Cost Of Living Vs. Ohio
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 95.
The Groceries index in Lakewood is 98.
The Health index in Lakewood is 90.
The Housing index in Lakewood is 91.
The Transportation index in Lakewood is 96.
The Utilities index in Lakewood is 93.
| Living Expense | Lakewood | Ohio | National Average |
|---|---|---|---|
| Overall | 94 | 90 | 100 |
| Services | 95 | 97 | 100 |
| Groceries | 98 | 97 | 100 |
| Health | 90 | 75 | 100 |
| Housing | 91 | 97 | 100 |
| Transportation | 96 | 95 | 100 |
| Utilities | 93 | 97 | 100 |
Lakewood Cost Of Living Compared To Ohio Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Ohio, 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, OH Housing Cost Breakdown
Housing swings affordability the most between places in Ohio, 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 $286,113.
The Median Rent in Lakewood is $1,070.
The Median Income in Lakewood is $68,954.
The Home Value To Income in Lakewood is 4.1x.
The Rent To Monthly Income in Lakewood is 0.19x.
Lakewood, OH Costs By Category
Detailed Lakewood Services costs vs. Ohio
Detailed Lakewood Groceries costs vs. Ohio
Detailed Lakewood Health costs vs. Ohio
Detailed Lakewood Transportation costs vs. Ohio
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:
Cleveland, OH has a cost of living index of 80, 0.9x Lakewood.
Strongsville, OH has a cost of living index of 101, 1.1x Lakewood.
Westlake, OH has a cost of living index of 110, 1.2x Lakewood.
| City | Population | Cost Of Living | Vs. Lakewood |
|---|---|---|---|
| Cleveland, OH | 366,097 | 80 | 0.9x |
| Strongsville, OH | 45,983 | 101 | 1.1x |
| Westlake, OH | 34,104 | 110 | 1.2x |
| North Olmsted, OH | 31,924 | 96 | 1.0x |
| Shaker Heights, OH | 28,922 | 103 | 1.1x |
| Solon, OH | 23,943 | 114 | 1.2x |
| Rocky River, OH | 21,490 | 108 | 1.1x |
| Parma Heights, OH | 20,581 | 90 | 1.0x |
| Broadview Heights, OH | 19,771 | 101 | 1.1x |
| Brook Park, OH | 18,284 | 90 | 1.0x |
