Cost of Living in Lakewood, OH
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
112.0
100 = national avg
+12.0 vs national average
Living Wage (1 Adult)
$49,274
per year
Living Wage (Family of 4)
$116,466
per year
Cost Index by Category
Housing131.5
Food100.4
Transportation100.8
Healthcare100.3
Utilities106.5
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,058
per month
2 Bedroom
$1,279
per month
The overall cost of living index in Lakewood is 112.0, which is 12.0% above the national average. Housing costs are above the national average at an index of 131.5. A single adult needs to earn approximately $49,274 per year to cover basic expenses.