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: 118.8 / 100
- Median Home Price is: $423,000
- Average Rent (2 BR Apartment): $2586 per month
- Average Rent (2 BR House): $2811 per month
When considering a move to Lakewood, NJ, the housing index of 118.8 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 2586 and a 2-bedroom house at 2811 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.): $261 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 $261 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.