Cost of Living: Lakewood, CO vs Elizabeth, NJ (2026)

Lakewood

Colorado
141
VS

Elizabeth

New Jersey
112

Lakewood is 26% more expensive than Elizabeth.

$1,746/mo ↑ 19%
Median Rent
$1,463/mo ↓ 16%
$85,789/yr ↑ 34%
Median Income
$63,874/yr ↓ 26%
$548,200 ↑ 39%
Home Value
$393,500 ↓ 28%
$1,729/mo ↑ 12%
Owner Costs
$1,543/mo ↓ 11%
156,309
Population
135,887

Tax Comparison

4.4%
Income Tax
10.75%
2.9%
State Sales Tax
6.625%
0.51%
Property Tax
2.23%

Affordability

24.4%
rent-to-income
Affordability
27.5%
rent-to-income

Detailed Comparison

When comparing Lakewood, CO and Elizabeth, NJ, the overall cost of living indices are 141 and 112 respectively (national median = 100). Rent is $283/month cheaper in Elizabeth, saving renters about $3,396/year.

Median household income is $21,915/year higher in Lakewood. Home values also differ significantly — the median in Lakewood is $548,200 compared to $393,500 in Elizabeth.

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

Frequently Asked Questions

Lakewood vs Elizabeth — common questions

Is Lakewood or Elizabeth cheaper to live in?
Based on our cost index, Elizabeth is cheaper to live in with an index of 112 compared to 141 (US average = 100).
What is the rent difference between Lakewood and Elizabeth?
Median rent in Lakewood is $1,746/month and in Elizabeth it's $1,463/month — a difference of $283/month.
Which city has higher income, Lakewood or Elizabeth?
Median household income is $85,789 in Lakewood and $63,874 in Elizabeth. Median household income is $21,915/year higher in Lakewood.
How do taxes compare between Colorado and New Jersey?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Lakewood or Elizabeth?
It depends on your priorities. Lakewood has a cost index of 141 with median rent of $1,746/mo, while Elizabeth has a cost index of 112 with rent of $1,463/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Lakewood details → View Elizabeth details →

More Comparisons

Other cost of living comparisons for Lakewood and Elizabeth

Lakewood vs. Macon Lakewood vs. Killeen Lakewood vs. Alexandria Lakewood vs. Kansas City Lakewood vs. Murfreesboro Lakewood vs. Springfield Elizabeth vs. Victorville Elizabeth vs. Stamford Elizabeth vs. Miramar Elizabeth vs. Kent Elizabeth vs. Pasadena Elizabeth vs. Midland