Cost of Living in Lakewood, CO
Housing
The housing market plays a significant role in determining the cost of living in Lakewood, CO.
- Housing Index: 115.0 / 100
- Median Home Price is: $568000
- Average Rent (2 BR Apartment): $2100 per month
- Average Rent (2 BR House): $2145 per month
Analyzing the housing data for Lakewood, CO, reveals a housing index of 115.0, which indicates a slightly above-average affordability compared to national standards. The median home price sits at 568000, reflecting the competitive market in this area. Renting options for a 2-bedroom apartment average around 2100, while a 2-bedroom house costs approximately 2145. This suggests a higher rental demand, potentially driven by factors such as local amenities and quality of life. Carefully consider both purchasing and renting options based on your financial situation and lifestyle preferences.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lakewood, CO.
- Electricity Price: $15.21 USD (median by state)
- Natural Gas Price: $11.3 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Lakewood, CO could entail higher utility costs. Electricity costs sit at $15.21, while natural gas is priced at $11.3 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Lakewood is a financially viable option for your relocation.