Lakewood, WA Cost Of Living

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

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

  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, 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:

64 out of 192
In Washington
4,492 out of 6,412
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
For more reading on cost of living around Washington, check out:
Lakewood Cost of Living Vs. WA

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
Search Homes For Sale In Lakewood, WA
$331,500
Median Home Value
$1,183
Median Rent
$60,534
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

6
/10
Overall SnackAbility
Jobs
7/10
Housing
8.5
Affordability
4
Diversity
10
Safety
3
Amenities
9.5
Education
6
Commute
5

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

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