Lakewood vs Odessa
Cost of Living Comparison · 2026
Lakewood
Odessa
The Verdict
The cost gap between these cities is 56.5%, with Odessa being the more affordable option. A $75,000 income in Lakewood has equivalent purchasing power to $47,932 in Odessa.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Lakewood has the same purchasing power as $47,932 in Odessa.
Conversely, $75,000 in Odessa equals $117,353 in Lakewood.
Living in Lakewood vs Odessa
Housing Costs
Lakewood's housing index of 188 is higher Odessa's 72, translating to median home prices of $574,000 vs $223,000. The $351,000 difference in home prices means roughly $22,812 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $1,150/mo in Odessa, a monthly difference of $700.
Grocery & Food Costs
Grocery expenses index at 101 in Lakewood and 96 in Odessa. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $456/month in Odessa. 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 85 in Lakewood and 100 in Odessa. Monthly utility bills average approximately $340 in Lakewood vs $400 in Odessa. 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 84 in Lakewood and 96 in Odessa. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 12-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $83,800 in Lakewood and $73,500 in Odessa. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $86,471 respectively. Odessa residents come out ahead in real purchasing power.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,955/month to housing in Lakewood vs $1,715/month in Odessa. In Lakewood, median rent of $1,850/mo fits within this budget. In Odessa, median rent of $1,150/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 116 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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