Lakewood, NY, has a cost of living index that is slightly below the nationwide average. The overall cost of living index for Lakewood stands at 88, which is 12% lower than the national average of 100. This means that, on average, residents in Lakewood can expect to spend less on various expenses compared to the rest of the country.
Specifically, housing costs in Lakewood are 15% below the national average, while groceries and healthcare are only slightly below. Utilities, transportation, and miscellaneous expenses also fall under the average, making Lakewood a relatively affordable place to live.
Lakewood, NY, presents a cost of living that is notably lower than the nationwide average. The housing index in Lakewood stands at 85, which is 15% below the national average. This suggests that housing expenses in Lakewood are more affordable, making it an attractive option for those looking to save on their living costs. Additionally, the transportation index is also 85, indicating that commuting and vehicle-related expenses are similarly reduced.
In other areas, the cost of living in Lakewood remains close to the national average. For instance, the grocery index is 95, which is only 5% above the national average. This means that food costs are slightly higher but still manageable. Utilities in Lakewood are at 90, which is 10% below the national average, offering some savings in this area. Healthcare costs are slightly above the national average at 92, but this is a modest increase. Miscellaneous expenses, which include items like entertainment and personal care, are at 88, indicating a minor increase of 2% compared to the average. Overall, Lakewood, NY, provides a balanced cost of living with several areas below the national average, making it a practical choice for many.
