Cost of Living in Lakewood, WA
Housing
The housing market plays a significant role in determining the cost of living in Lakewood, WA.
- Housing Index: 115.0 / 100
- Median Home Price is: $495,000
- Average Rent (2 BR Apartment): $1800 per month
- Average Rent (2 BR House): $1840 per month
In analyzing the housing data for Lakewood, WA, it's evident that the housing index is relatively elevated at 115.0, suggesting a competitive market. The median home price of 495000 and average rents of 1800 for apartments and 1840 for houses indicate a financially demanding environment for renters and potential homeowners. This situation may discourage some buyers but could be favorable for landlords. Prospective movers should consider the overall economic landscape, job market opportunities, and access to amenities in Lakewood to make an informed decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lakewood, WA.
- Electricity Price: $12.34 USD (median by state)
- Natural Gas Price: $18.14 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Lakewood, WA could entail higher utility costs. Electricity costs sit at $12.34, while natural gas is priced at $18.14 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.