Cost of Living: Troy, MI vs Lakewood, NY
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Troy | Lakewood |
|---|---|---|
| Housing Index | 115.0 | 115.0 |
| Median Home Price | $375,000 | $190,000 |
| Average Rent (2 BR Apartment) | $1200 | $1600 |
| Average Rent (2 BR House) | $1280 | $1640 |
Housing Comparison: Troy vs Lakewood
- In Troy, the median home price is higher at $375,000, while in Lakewood it is $190,000.
- In Lakewood, the rental for a two-bedroom apartment stands at $1,600, while it is $1,200 in Troy.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Troy | Lakewood |
|---|---|---|
| Electricity Price | $19.88 | $26.08 |
| Natural Gas Price | $15.42 | $18.13 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Troy vs Lakewood
- Lakewood has higher electricity costs at $26.08 per kWh, versus $19.88 in Troy.
- Lakewood experiences higher natural gas costs at $18.13 per unit, with costs at $15.42 in Troy.
- Utility expenses are equal in both Troy and Lakewood averaging $250.