Knoxville vs Lakewood
Cost of Living Comparison · 2026
Knoxville
Lakewood
The Verdict
Knoxville is 33.8% less expensive than Lakewood overall. A household earning $75,000 in Knoxville would need approximately $113,352 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 Knoxville has the same purchasing power as $113,352 in Lakewood.
Conversely, $75,000 in Lakewood equals $49,624 in Knoxville.
Living in Knoxville vs Lakewood
Housing Costs
Knoxville's housing index of 73 is lower Lakewood's 188, translating to median home prices of $240,000 vs $574,000. The $334,000 difference in home prices means roughly $21,708 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,100/mo in Knoxville compared to $1,850/mo in Lakewood, a monthly difference of $750.
Grocery & Food Costs
Grocery expenses index at 94 in Knoxville and 101 in Lakewood. A household spending the national average of $475/month on groceries would pay approximately $447/month in Knoxville vs $480/month in Lakewood. Knoxville offers a meaningful advantage on everyday food costs, saving roughly $396/year.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 90 in Knoxville and 85 in Lakewood. Monthly utility bills average approximately $360 in Knoxville vs $340 in Lakewood. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 93 in Knoxville and 84 in Lakewood. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 9-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $42,898 in Knoxville and $83,800 in Lakewood. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $48,748 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 $1,001/month to housing in Knoxville vs $1,955/month in Lakewood. In Knoxville, median rent of $1,100/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 115 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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