Lakewood vs Rapid City

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 $55,263 in Rapid City.

Conversely, $75,000 in Rapid City equals $101,786 in Lakewood.

Living in Lakewood vs Rapid City

Housing Costs

Lakewood's housing index of 188 is higher Rapid City's 91, translating to median home prices of $574,000 vs $325,000. The $249,000 difference in home prices means roughly $16,188 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $1,100/mo in Rapid City, a monthly difference of $750.

Grocery & Food Costs

Grocery expenses index at 101 in Lakewood and 102 in Rapid City. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $485/month in Rapid City. 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 87 in Rapid City. Monthly utility bills average approximately $340 in Lakewood vs $348 in Rapid City. Utility costs are relatively comparable between these two cities.

Healthcare

Healthcare costs index at 84 in Lakewood and 107 in Rapid City. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 23-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 $70,900 in Rapid City. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $72,347 respectively. Rapid City 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 $1,654/month in Rapid City. In Lakewood, median rent of $1,850/mo fits within this budget. In Rapid City, median rent of $1,100/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 97 index points — focus your budget analysis there.

Frequently Asked Questions

Moving & Relocation Resources

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