Cost of Living: Lakewood, NJ vs Springhill, LA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lakewood | Springhill |
|---|---|---|
| Housing Index | 120.0 | 90.0 |
| Median Home Price | $423,000 | $188,000 |
| Average Rent (2 BR Apartment) | $2200 | $1200 |
| Average Rent (2 BR House) | $2160 | $1280 |
Housing Comparison: Lakewood vs Springhill
- In Lakewood, the median home price is higher at $423,000, while in Springhill it is $188,000.
- Renting a two-bedroom apartment costs more in Lakewood at $2,200 than in Springhill at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Lakewood | Springhill |
|---|---|---|
| Electricity Price | $19.88 | $11.42 |
| Natural Gas Price | $14.01 | $19.48 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Lakewood vs Springhill
- Electricity costs are higher in Lakewood at $19.88 per kWh, compared to $11.42 in Springhill.
- Springhill experiences higher natural gas costs at $19.48 per unit, with costs at $14.01 in Lakewood.
- Utility expenses are equal in both Lakewood and Springhill averaging $250.