Cost of Living: Lakewood, CO vs Billings, MT (2026)

Lakewood

Colorado
141
VS

Billings

Montana
86

Lakewood is 64% more expensive than Billings.

$1,746/mo ↑ 59%
Median Rent
$1,097/mo ↓ 37%
$85,789/yr ↑ 19%
Median Income
$71,855/yr ↓ 16%
$548,200 ↑ 76%
Home Value
$311,800 ↓ 43%
$1,729/mo ↑ 47%
Owner Costs
$1,177/mo ↓ 32%
156,309
Population
118,321

Tax Comparison

4.4%
Income Tax
6.75%
2.9%
State Sales Tax
0%
0.51%
Property Tax
0.74%

Affordability

24.4%
rent-to-income
Affordability
18.3%
rent-to-income

Detailed Comparison

When comparing Lakewood, CO and Billings, MT, the overall cost of living indices are 141 and 86 respectively (national median = 100). Rent is $649/month cheaper in Billings, saving renters about $7,788/year.

Median household income is $13,934/year higher in Lakewood. Home values also differ significantly — the median in Lakewood is $548,200 compared to $311,800 in Billings.

Colorado has a lower income tax rate, making Lakewood slightly more tax-friendly.

Frequently Asked Questions

Lakewood vs Billings — common questions

Is Lakewood or Billings cheaper to live in?
Based on our cost index, Billings is cheaper to live in with an index of 86 compared to 141 (US average = 100).
What is the rent difference between Lakewood and Billings?
Median rent in Lakewood is $1,746/month and in Billings it's $1,097/month — a difference of $649/month.
Which city has higher income, Lakewood or Billings?
Median household income is $85,789 in Lakewood and $71,855 in Billings. Median household income is $13,934/year higher in Lakewood.
How do taxes compare between Colorado and Montana?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Montana has 6.75% income tax, 0% sales tax, and 0.74% property tax.
Should I move to Lakewood or Billings?
It depends on your priorities. Lakewood has a cost index of 141 with median rent of $1,746/mo, while Billings has a cost index of 86 with rent of $1,097/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Lakewood details → View Billings details →

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