Lakewood vs Orem
Cost of Living Comparison · 2026
Lakewood
Orem
The Verdict
Living in Orem costs 13.7% less than Lakewood. To match the purchasing power of a $75,000 salary in Lakewood, you would need $65,977 in Orem.
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 $65,977 in Orem.
Conversely, $75,000 in Orem equals $85,256 in Lakewood.
Living in Lakewood vs Orem
Housing Costs
Lakewood's housing index of 188 is higher Orem's 147, translating to median home prices of $574,000 vs $528,000. The $46,000 difference in home prices means roughly $2,988 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $1,400/mo in Orem, a monthly difference of $450.
Grocery & Food Costs
Grocery expenses index at 101 in Lakewood and 98 in Orem. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $466/month in Orem. 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 92 in Orem. Monthly utility bills average approximately $340 in Lakewood vs $368 in Orem. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 84 in Lakewood and 95 in Orem. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 11-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 $86,000 in Orem. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $73,504 respectively. Orem 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 $2,007/month in Orem. In Lakewood, median rent of $1,850/mo fits within this budget. In Orem, median rent of $1,400/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 41 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
As an Amazon Associate we earn from qualifying purchases