Cost of Living in Lakewood: A Comprehensive Guide
Introduction
Lakewood, Colorado, is a beautiful city located in Jefferson County, just west of Denver. It is a popular destination for real estate investors, homeowners, and first-time home buyers due to its affordable cost of living. In this comprehensive guide, we will explore the cost of living in Lakewood, including housing, transportation, food, and entertainment.
Lakewood Cost of Living: Housing
Housing is the biggest expense for most people, and Lakewood is no exception. The median home price in Lakewood is $450,000, which is slightly higher than the national average. However, the cost of living in Lakewood is still lower than many other cities in Colorado, such as Denver and Boulder.
If you are looking to rent, the average rent for a one-bedroom apartment in Lakewood is $1,300 per month. This is also lower than the average rent in Denver, which is $1,500 per month.
Lakewood Cost of Living: Transportation
Transportation is another significant expense for most people. Lakewood has a well-developed public transportation system, including buses and light rail. The cost of a one-way bus fare is $2.60, and a monthly pass is $104. If you prefer to drive, the average cost of gas in Lakewood is $2.50 per gallon, which is slightly lower than the national average.
Lakewood Cost of Living: Food
Food is another essential expense that can add up quickly. The cost of groceries in Lakewood is slightly higher than the national average, but there are many affordable options available. For example, a gallon of milk costs around $2.50, a loaf of bread costs around $2.00, and a pound of ground beef costs around $4.50.
If you prefer to eat out, there are many affordable options in Lakewood. For example, a meal at a fast-food restaurant costs around $8.00, while a meal at a mid-range restaurant costs around $15.00.
Lakewood Cost of Living: Entertainment
Entertainment is an essential part of life, and Lakewood has plenty of options available. There are many parks and hiking trails in the area, which are free to use. If you prefer indoor activities, there are many affordable options available, such as movie theaters and Bowling alleys.
FAQs
1. Is Lakewood an affordable place to live?
Yes, Lakewood is an affordable place to live compared to many other cities in Colorado. The cost of living in Lakewood is lower than Denver and Boulder, and there are many affordable housing options available.
2. What is the average rent in Lakewood?
The average rent for a one-bedroom apartment in Lakewood is $1,300 per month.
3. What is the cost of gas in Lakewood?
The average cost of gas in Lakewood is $2.50 per gallon, which is slightly lower than the national average.
Conclusion
In conclusion, Lakewood is an affordable place to live compared to many other cities in Colorado. The cost of living in Lakewood is lower than Denver and Boulder, and there are many affordable housing options available. Transportation, food, and entertainment are also affordable in Lakewood, making it an excellent choice for real estate investors, homeowners, and first-time home buyers.
