Charleston vs Lakewood
Cost of Living Comparison · 2026
Charleston
Lakewood
The Verdict
Living in Charleston costs 36.1% less than Lakewood. To match the purchasing power of a $75,000 salary in Charleston, you would need $117,353 in Lakewood.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Charleston has the same purchasing power as $117,353 in Lakewood.
Conversely, $75,000 in Lakewood equals $47,932 in Charleston.
Living in Charleston vs Lakewood
Housing Costs
Charleston's housing index of 62 is lower Lakewood's 188, translating to median home prices of $135,000 vs $574,000. The $439,000 difference in home prices means roughly $28,536 per year in additional mortgage costs at current rates. Renters face a similar gap: $850/mo in Charleston compared to $1,850/mo in Lakewood, a monthly difference of $1,000.
Grocery & Food Costs
Grocery expenses index at 97 in Charleston and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $461/month in Charleston 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 92 in Charleston and 85 in Lakewood. Monthly utility bills average approximately $368 in Charleston vs $340 in Lakewood. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 91 in Charleston 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 $42,034 in Charleston and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $49,452 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 $981/month to housing in Charleston vs $1,955/month in Lakewood. In Charleston, median rent of $850/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 126 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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