Cost of Living in Lakewood, NY
Housing
The housing market plays a significant role in determining the cost of living in Lakewood, NY.
- Housing Index: 115.0 / 100
- Median Home Price is: $190000
- Average Rent (2 BR Apartment): $1600 per month
- Average Rent (2 BR House): $1640 per month
When considering a move to Lakewood, NY, the current housing index of 115.0 suggests that the cost of living is above the national average. The median home price of 190000 is relatively affordable in comparison to many urban areas, making homeownership attainable. However, rental prices are also noteworthy, with average rents for a 2BR apartment at 1600 and for a house at 1640. It’s essential to weigh your options between buying versus renting, depending on your financial situation and long-term plans.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lakewood, NY.
- Electricity Price: $26.08 USD (median by state)
- Natural Gas Price: $18.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Lakewood, NY could entail higher utility costs. Electricity costs sit at $26.08, while natural gas is priced at $18.13 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.