Akron vs Lakewood
Cost of Living Comparison · 2026
Akron
Lakewood
The Verdict
Akron is 39.1% less expensive than Lakewood overall. A household earning $75,000 in Akron would need approximately $123,148 in Lakewood to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Akron has the same purchasing power as $123,148 in Lakewood.
Conversely, $75,000 in Lakewood equals $45,677 in Akron.
Living in Akron vs Lakewood
Housing Costs
Akron's housing index of 60 is lower Lakewood's 188, translating to median home prices of $146,000 vs $574,000. The $428,000 difference in home prices means roughly $27,816 per year in additional mortgage costs at current rates. Renters face a similar gap: $875/mo in Akron compared to $1,850/mo in Lakewood, a monthly difference of $975.
Grocery & Food Costs
Grocery expenses index at 106 in Akron and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $504/month in Akron vs $480/month in Lakewood. The difference in grocery costs between these cities is relatively minor and unlikely to be a deciding factor in relocation.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 80 in Akron and 85 in Lakewood. Monthly utility bills average approximately $320 in Akron vs $340 in Lakewood. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 88 in Akron and 84 in Lakewood. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $48,500 in Akron and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $59,877 and $63,008 respectively. Lakewood residents come out ahead in real purchasing power.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,132/month to housing in Akron vs $1,955/month in Lakewood. In Akron, median rent of $875/mo fits within this budget. In Lakewood, median rent of $1,850/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 128 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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