Fort Lee, NJ vs Lakewood, NJ

Fort Lee, NJ and Lakewood, NJ have a very similar cost of living, with only a 1.7% difference in their overall index. Fort Lee scores 142 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 Fort Lee is $2,255/month compared to $1,647/month in Lakewood — a 37% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Fort Lee actually has lower median home values ($422,200 vs $618,400).

Median household income in Fort Lee is $105,535 compared to $57,576 in Lakewood (+83.3%). While Fort Lee is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Fort Lee spend roughly 25.6% of their income on rent, less than the 34.3% in Lakewood. The Fort Lee ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.