Lakewood, NJ vs Perth Amboy, NJ

There is a significant gap in the cost of living between these two cities. Perth Amboy is 20.1% cheaper than Lakewood. With a cost index of 117 vs 140, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Perth Amboy 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 $1,629/month in Perth Amboy — a 1% difference. Home values follow the same pattern: Perth Amboy is more affordable at $339,200 median vs $618,400.

Median household income in Lakewood is $57,576 compared to $58,490 in Perth Amboy (-1.6%). Perth Amboy 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 33.4% in Perth Amboy. The Perth Amboy ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.