Lakewood vs Roanoke
Cost of Living Comparison · 2026
Lakewood
Roanoke
The Verdict
Roanoke is 64.2% less expensive than Lakewood overall. A household earning $75,000 in Lakewood would need approximately $45,677 in Roanoke 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 $45,677 in Roanoke.
Conversely, $75,000 in Roanoke equals $123,148 in Lakewood.
Living in Lakewood vs Roanoke
Housing Costs
Lakewood's housing index of 188 is higher Roanoke's 57, translating to median home prices of $574,000 vs $225,000. The $349,000 difference in home prices means roughly $22,680 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $1,075/mo in Roanoke, a monthly difference of $775.
Grocery & Food Costs
Grocery expenses index at 101 in Lakewood and 97 in Roanoke. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $461/month in Roanoke. 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 116 in Roanoke. Monthly utility bills average approximately $340 in Lakewood vs $464 in Roanoke. 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 91 in Roanoke. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $83,800 in Lakewood and $52,700 in Roanoke. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $65,062 respectively. Roanoke 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 $1,230/month in Roanoke. In Lakewood, median rent of $1,850/mo fits within this budget. In Roanoke, median rent of $1,075/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 131 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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