Irving vs Lakewood
Cost of Living Comparison · 2026
Irving
Lakewood
The Verdict
Irving is 24.8% less expensive than Lakewood overall. A household earning $75,000 in Irving would need approximately $99,750 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 Irving has the same purchasing power as $99,750 in Lakewood.
Conversely, $75,000 in Lakewood equals $56,391 in Irving.
Living in Irving vs Lakewood
Housing Costs
Irving's housing index of 94 is lower Lakewood's 188, translating to median home prices of $318,000 vs $574,000. The $256,000 difference in home prices means roughly $16,644 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,350/mo in Irving compared to $1,850/mo in Lakewood, a monthly difference of $500.
Grocery & Food Costs
Grocery expenses index at 99 in Irving and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $470/month in Irving 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 111 in Irving and 85 in Lakewood. Monthly utility bills average approximately $444 in Irving 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 103 in Irving and 84 in Lakewood. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 19-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $73,400 in Irving and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $73,400 and $63,008 respectively. Irving residents enjoy stronger real purchasing power despite lower nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,713/month to housing in Irving vs $1,955/month in Lakewood. In Irving, median rent of $1,350/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 94 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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