Gilman, IL vs Lakewood, IL

The cost of living difference between Gilman, IL and Lakewood, IL is dramatic. Gilman is 46.1% cheaper than Lakewood, a gap that translates to thousands of dollars per year in household expenses. Gilman has a cost index of 64 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 Gilman are $108,900 compared to $518,500 in Lakewood, a 79% gap.

Median household income in Gilman is $65,729 compared to $185,774 in Lakewood (-64.6%). 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 (52.3°F vs 49.7°F). Gilman receives more rainfall at 40.4" per year compared to 33.2" in Lakewood.