Cost of Living in Lakewood, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
273.4
100 = national avg
+173.4 vs national average
Living Wage (1 Adult)
$120,295
per year
Living Wage (Family of 4)
$284,333
per year
Cost Index by Category
Housing348.7
Food192.0
Transportation284.0
Healthcare173.6
Utilities200.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Lakewood is 273.4, which is 173.4% above the national average. Housing costs are above the national average at an index of 348.7. A single adult needs to earn approximately $120,295 per year to cover basic expenses.