Fargo vs Lakewood
Cost of Living Comparison · 2026
Fargo
Lakewood
The Verdict
Living in Fargo costs 30.1% less than Lakewood. To match the purchasing power of a $75,000 salary in Fargo, you would need $107,258 in Lakewood.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Fargo has the same purchasing power as $107,258 in Lakewood.
Conversely, $75,000 in Lakewood equals $52,444 in Fargo.
Living in Fargo vs Lakewood
Housing Costs
Fargo's housing index of 80 is lower Lakewood's 188, translating to median home prices of $260,000 vs $574,000. The $314,000 difference in home prices means roughly $20,412 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,000/mo in Fargo compared to $1,850/mo in Lakewood, a monthly difference of $850.
Grocery & Food Costs
Grocery expenses index at 98 in Fargo and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $466/month in Fargo 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 Fargo and 85 in Lakewood. Monthly utility bills average approximately $368 in Fargo vs $340 in Lakewood. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 105 in Fargo and 84 in Lakewood. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 21-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $55,218 in Fargo and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $59,374 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 $1,288/month to housing in Fargo vs $1,955/month in Lakewood. In Fargo, median rent of $1,000/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 108 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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