Lakewood, NJ vs Millville, NJ

The cost of living difference between Lakewood, NJ and Millville, NJ is dramatic. Millville is 63.2% cheaper than Lakewood, a gap that translates to thousands of dollars per year in household expenses. Lakewood has a cost index of 140 while Millville sits at 86, 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.

On the housing front, median rent in Lakewood is $1,647/month compared to $1,207/month in Millville — a 37% difference. Home values follow the same pattern: Millville is more affordable at $199,300 median vs $618,400.

Median household income in Lakewood is $57,576 compared to $67,190 in Millville (-14.3%). Millville 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 34.3% of their income on rent, more than the 21.6% in Millville. The Millville ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.