Cost of Living: Lakewood, NJ vs Sterling, IL
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lakewood | Sterling |
|---|---|---|
| Housing Index | 120.0 | 90.0 |
| Median Home Price | $423,000 | $137,000 |
| Average Rent (2 BR Apartment) | $2200 | $1200 |
| Average Rent (2 BR House) | $2160 | $1360 |
Housing Comparison: Lakewood vs Sterling
- In Lakewood, the median home price is higher at $423,000, while in Sterling it is $137,000.
- Renting a two-bedroom apartment costs more in Lakewood at $2,200 than in Sterling 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 | Sterling |
|---|---|---|
| Electricity Price | $19.88 | $16.15 |
| Natural Gas Price | $14.01 | $16.59 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Lakewood vs Sterling
- Electricity costs are higher in Lakewood at $19.88 per kWh, compared to $16.15 in Sterling.
- Sterling experiences higher natural gas costs at $16.59 per unit, with costs at $14.01 in Lakewood.
- Utility expenses are equal in both Lakewood and Sterling averaging $250.