Hackensack, NJ vs Lakewood, NJ

Hackensack is moderately more affordable than Lakewood, with a 11.3% lower cost of living index. Hackensack scores 124 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 Hackensack is $1,794/month compared to $1,647/month in Lakewood — a 9% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Hackensack actually has lower median home values ($370,300 vs $618,400).

Median household income in Hackensack is $82,212 compared to $57,576 in Lakewood (+42.8%). Hackensack offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Hackensack spend roughly 26.2% of their income on rent, less than the 34.3% in Lakewood. The Hackensack ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.