Lakewood, CO vs Westminster, CO

Lakewood, CO and Westminster, CO have a very similar cost of living, with only a 1.5% difference in their overall index. Lakewood scores 135 while Westminster scores 133 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 Lakewood is $1,746/month compared to $1,816/month in Westminster — a 4% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Westminster actually has lower median home values ($497,400 vs $548,200).

Median household income in Lakewood is $85,789 compared to $96,145 in Westminster (-10.8%). Westminster offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lakewood spend roughly 24.4% of their income on rent, more than the 22.7% in Westminster.