Albany vs Lakewood
Cost of Living Comparison · 2026
Albany
Lakewood
The Verdict
Albany is 25.6% less expensive than Lakewood overall. A household earning $75,000 in Albany would need approximately $100,758 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 Albany has the same purchasing power as $100,758 in Lakewood.
Conversely, $75,000 in Lakewood equals $55,827 in Albany.
Living in Albany vs Lakewood
Housing Costs
Albany's housing index of 93 is lower Lakewood's 188, translating to median home prices of $220,000 vs $574,000. The $354,000 difference in home prices means roughly $23,016 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,200/mo in Albany compared to $1,850/mo in Lakewood, a monthly difference of $650.
Grocery & Food Costs
Grocery expenses index at 102 in Albany and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $485/month in Albany 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 107 in Albany and 85 in Lakewood. Monthly utility bills average approximately $428 in Albany vs $340 in Lakewood. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.
Healthcare
Healthcare costs index at 100 in Albany and 84 in Lakewood. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 16-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $43,098 in Albany and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $43,533 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 $1,006/month to housing in Albany vs $1,955/month in Lakewood. In Albany, median rent of $1,200/mo exceeds this threshold, suggesting renters may feel stretched. 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 95 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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