Cost of Living: Lakewood, CO vs Springfield, IL (2026)

Lakewood

Colorado
141
VS

Springfield

Illinois
61

Lakewood is 131% more expensive than Springfield.

$1,746/mo ↑ 85%
Median Rent
$945/mo ↓ 46%
$85,789/yr ↑ 31%
Median Income
$65,537/yr ↓ 24%
$548,200 ↑ 253%
Home Value
$155,200 ↓ 72%
$1,729/mo ↑ 78%
Owner Costs
$974/mo ↓ 44%
156,309
Population
113,714

Tax Comparison

4.4%
Income Tax
4.95%
2.9%
State Sales Tax
6.25%
0.51%
Property Tax
2.07%

Affordability

24.4%
rent-to-income
Affordability
17.3%
rent-to-income

Detailed Comparison

When comparing Lakewood, CO and Springfield, IL, the overall cost of living indices are 141 and 61 respectively (national median = 100). Rent is $801/month cheaper in Springfield, saving renters about $9,612/year.

Median household income is $20,252/year higher in Lakewood. Home values also differ significantly — the median in Lakewood is $548,200 compared to $155,200 in Springfield.

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

Frequently Asked Questions

Lakewood vs Springfield — common questions

Is Lakewood or Springfield cheaper to live in?
Based on our cost index, Springfield is cheaper to live in with an index of 61 compared to 141 (US average = 100).
What is the rent difference between Lakewood and Springfield?
Median rent in Lakewood is $1,746/month and in Springfield it's $945/month — a difference of $801/month.
Which city has higher income, Lakewood or Springfield?
Median household income is $85,789 in Lakewood and $65,537 in Springfield. Median household income is $20,252/year higher in Lakewood.
How do taxes compare between Colorado and Illinois?
Colorado has 4.4% income tax, 2.9% sales tax, and 0.51% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.
Should I move to Lakewood or Springfield?
It depends on your priorities. Lakewood has a cost index of 141 with median rent of $1,746/mo, while Springfield has a cost index of 61 with rent of $945/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Lakewood details → View Springfield details →

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