Lakewood vs Toledo
Cost of Living Comparison · 2026
Lakewood
Toledo
The Verdict
Living in Toledo costs 72.7% less than Lakewood. To match the purchasing power of a $75,000 salary in Lakewood, you would need $43,421 in Toledo.
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 $43,421 in Toledo.
Conversely, $75,000 in Toledo equals $129,545 in Lakewood.
Living in Lakewood vs Toledo
Housing Costs
Lakewood's housing index of 188 is higher Toledo's 55, translating to median home prices of $574,000 vs $128,000. The $446,000 difference in home prices means roughly $28,992 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Lakewood compared to $825/mo in Toledo, a monthly difference of $1,025.
Grocery & Food Costs
Grocery expenses index at 101 in Lakewood and 98 in Toledo. A household spending the national average of $475/month on groceries would pay approximately $480/month in Lakewood vs $466/month in Toledo. 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 Toledo. Monthly utility bills average approximately $340 in Lakewood vs $368 in Toledo. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 84 in Lakewood and 84 in Toledo. 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 $42,200 in Toledo. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $63,008 and $54,805 respectively. Lakewood residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $1,955/month to housing in Lakewood vs $985/month in Toledo. In Lakewood, median rent of $1,850/mo fits within this budget. In Toledo, median rent of $825/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 133 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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