Lakewood, NJ vs Passaic, NJ

There is a significant gap in the cost of living between these two cities. Passaic is 21.8% cheaper than Lakewood. With a cost index of 115 vs 140, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Passaic to Lakewood should plan for substantially higher expenses across most categories.

On the housing front, median rent in Lakewood is $1,647/month compared to $1,392/month in Passaic — a 18% difference. Home values follow the same pattern: Passaic is more affordable at $406,500 median vs $618,400.

Median household income in Lakewood is $57,576 compared to $56,780 in Passaic (+1.4%). Lakewood does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Lakewood spend roughly 34.3% of their income on rent, more than the 29.4% in Passaic. The Passaic ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.