Erie, IL vs Lakewood, IL

The cost of living difference between Erie, IL and Lakewood, IL is dramatic. Erie is 44.5% cheaper than Lakewood, a gap that translates to thousands of dollars per year in household expenses. Erie has a cost index of 66 while Lakewood sits at 118, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

When it comes to buying, median home values in Erie are $147,300 compared to $518,500 in Lakewood, a 72% gap.

Median household income in Erie is $86,750 compared to $185,774 in Lakewood (-53.3%). While Lakewood is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income.

Climate-wise, both cities share similar average temperatures (49.9°F vs 49.7°F). Erie receives more rainfall at 36.2" per year compared to 33.2" in Lakewood.