Lakewood, NJ vs Toms River, NJ

There is a significant gap in the cost of living between these two cities. Toms River is 15.5% cheaper than Lakewood. With a cost index of 121 vs 140, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Toms River 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 $1,678/month in Toms River — a 2% difference. Interestingly, home values tell a different story: while Lakewood has cheaper rent, Toms River actually has lower median home values ($377,800 vs $618,400).

Median household income in Lakewood is $57,576 compared to $95,759 in Toms River (-39.9%). Toms River 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% in Toms River. The Toms River ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.