Cost of Living: Lakewood, NJ vs Litchfield, ME
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lakewood | Litchfield |
|---|---|---|
| Housing Index | 120.0 | 95.0 |
| Median Home Price | $423,000 | $275,000 |
| Average Rent (2 BR Apartment) | $2200 | $1280 |
| Average Rent (2 BR House) | $2160 | $1400 |
Housing Comparison: Lakewood vs Litchfield
- In Lakewood, the median home price is higher at $423,000, while in Litchfield it is $275,000.
- Renting a two-bedroom apartment costs more in Lakewood at $2,200 than in Litchfield at $1,280.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Lakewood | Litchfield |
|---|---|---|
| Electricity Price | $19.88 | $22.26 |
| Natural Gas Price | $14.01 | $21.63 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Lakewood vs Litchfield
- Litchfield has higher electricity costs at $22.26 per kWh, versus $19.88 in Lakewood.
- Litchfield experiences higher natural gas costs at $21.63 per unit, with costs at $14.01 in Lakewood.
- Utility expenses are equal in both Lakewood and Litchfield averaging $250.