Cost of Living: Hanover park, IL vs Lakewood, NJ
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Hanover park | Lakewood |
|---|---|---|
| Housing Index | 115.0 | 120.0 |
| Median Home Price | $408,000 | $423,000 |
| Average Rent (2 BR Apartment) | $1800 | $2200 |
| Average Rent (2 BR House) | $1850 | $2160 |
Housing Comparison: Hanover park vs Lakewood
- The median home price in Lakewood is higher at $423,000, compared to $408,000 in Hanover park.
- In Lakewood, the rental for a two-bedroom apartment stands at $2,200, while it is $1,800 in Hanover park.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Hanover park | Lakewood |
|---|---|---|
| Electricity Price | $16.15 | $19.88 |
| Natural Gas Price | $16.59 | $14.01 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Hanover park vs Lakewood
- Lakewood has higher electricity costs at $19.88 per kWh, versus $16.15 in Hanover park.
- Natural gas is more expensive in Hanover park at $16.59 per unit, while it is cheaper at $14.01 in Lakewood.
- Utility expenses are equal in both Hanover park and Lakewood averaging $250.