Lakewood vs Plano
Cost of Living Comparison · 2026
Lakewood
Plano
The Verdict
Plano is 22.0% less expensive than Lakewood overall. A household earning $75,000 in Lakewood would need approximately $61,466 in Plano 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 Lakewood has the same purchasing power as $61,466 in Plano.
Conversely, $75,000 in Plano equals $91,514 in Lakewood.
Living in Lakewood vs Plano
Housing Costs
Lakewood's housing index of 188 is higher Plano's 123, translating to median home prices of $574,000 vs $400,000. The $174,000 difference in home prices means roughly $11,316 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $1,700/mo in Plano, a monthly difference of $150.
Grocery & Food Costs
Grocery expenses index at 101 in Lakewood and 98 in Plano. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $466/month in Plano. 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 99 in Plano. Monthly utility bills average approximately $340 in Lakewood vs $396 in Plano. 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 100 in Plano. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 16-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 $96,348 in Plano. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $88,393 respectively. Plano 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 $2,248/month in Plano. In Lakewood, median rent of $1,850/mo fits within this budget. In Plano, median rent of $1,700/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 65 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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