Garfield, NJ vs Lakewood, NJ

Garfield is moderately more affordable than Lakewood, with a 10.4% lower cost of living index. Garfield scores 126 compared to 140 for Lakewood, where the US average is 100. This difference means residents of Lakewood can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Garfield is $1,612/month compared to $1,647/month in Lakewood — a 2% difference. Home values follow the same pattern: Garfield is more affordable at $454,300 median vs $618,400.

Median household income in Garfield is $75,701 compared to $57,576 in Lakewood (+31.5%). Garfield offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Garfield spend roughly 25.6% of their income on rent, less than the 34.3% in Lakewood. The Garfield ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.