Cost of Living in Lakewood, NJ
Housing
The housing market plays a significant role in determining the cost of living in Lakewood, NJ.
- Housing Index: 120.0 / 100
- Median Home Price is: $423000
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2160 per month
When considering a move to Lakewood, NJ, the housing index of 120.0 indicates a moderately high demand for housing options. The median home price of 423000 suggests that homeownership may require a significant investment, while the average rent for a 2-bedroom apartment at 2200 and a 2-bedroom house at 2160 reflects the competitive rental market. Keep in mind factors such as local amenities, job opportunities, and overall cost of living as you weigh your options in this vibrant area.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lakewood, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Lakewood, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 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.