Cost of Living: Albany, OR vs Lakewood, WA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Albany | Lakewood |
|---|---|---|
| Housing Index | 98.0 | 115.0 |
| Median Home Price | $315,000 | $495,000 |
| Average Rent (2 BR Apartment) | $1400 | $1800 |
| Average Rent (2 BR House) | $1440 | $1840 |
Housing Comparison: Albany vs Lakewood
- The median home price in Lakewood is higher at $495,000, compared to $315,000 in Albany.
- In Lakewood, the rental for a two-bedroom apartment stands at $1,800, while it is $1,400 in Albany.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Albany | Lakewood |
|---|---|---|
| Electricity Price | $15.12 | $12.34 |
| Natural Gas Price | $16.5 | $18.14 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Albany vs Lakewood
- Electricity costs are higher in Albany at $15.12 per kWh, compared to $12.34 in Lakewood.
- Lakewood experiences higher natural gas costs at $18.14 per unit, with costs at $16.5 in Albany.
- Utility expenses are equal in both Albany and Lakewood averaging $250.