Cost of Living: Farmington hills, MI vs Lakewood, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Farmington hills | Lakewood |
|---|---|---|
| Housing Index | Data is updating | 120.0 |
| Median Home Price | $292,000 | $423,000 |
| Average Rent (2 BR Apartment) | $Data is updating | $2200 |
| Average Rent (2 BR House) | $Data is updating | $2160 |
Housing Comparison: Farmington hills vs Lakewood
- The median home price in Lakewood is higher at $423,000, compared to $292,000 in Farmington hills.
- The rent for a two-bedroom apartment is equal in both Farmington hills and Lakewood at $0.0.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Farmington hills | Lakewood |
|---|---|---|
| Electricity Price | $19.88 | $19.88 |
| Natural Gas Price | $15.42 | $14.01 |
| Other Utilities | $Data is updating | $250 |
Utilities Comparison: Farmington hills vs Lakewood
- Electricity costs are the same in both Farmington hills and Lakewood at $19.88 per kWh.
- Natural gas is more expensive in Farmington hills at $15.42 per unit, while it is cheaper at $14.01 in Lakewood.
- Utility expenses are equal in both Farmington hills and Lakewood averaging $0.0.