Fair Lawn, NJ vs Lakewood, NJ

Fair Lawn, NJ and Lakewood, NJ have a very similar cost of living, with only a 0.6% difference in their overall index. Fair Lawn scores 141 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 Fair Lawn is $1,908/month compared to $1,647/month in Lakewood — a 16% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Fair Lawn actually has lower median home values ($532,700 vs $618,400).

Median household income in Fair Lawn is $147,952 compared to $57,576 in Lakewood (+157%). While Fair Lawn is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fair Lawn spend roughly 15.5% of their income on rent, less than the 34.3% in Lakewood. The Fair Lawn ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.