Englewood, NJ vs Lakewood, NJ

Englewood, NJ and Lakewood, NJ have a very similar cost of living, with only a 1.1% difference in their overall index. Englewood scores 139 while Lakewood scores 140 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Englewood is $1,925/month compared to $1,647/month in Lakewood — a 17% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Englewood actually has lower median home values ($497,500 vs $618,400).

Median household income in Englewood is $101,398 compared to $57,576 in Lakewood (+76.1%). Englewood offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Englewood spend roughly 22.8% of their income on rent, less than the 34.3% in Lakewood. The Englewood ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.