Lakewood, NJ vs Union City, NJ

There is a significant gap in the cost of living between these two cities. Union City is 15.6% 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 Union City 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 $1,489/month in Union City — a 11% difference. Home values follow the same pattern: Union City is more affordable at $446,800 median vs $618,400.

Median household income in Lakewood is $57,576 compared to $65,369 in Union City (-11.9%). Union City 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 27.3% in Union City. The Union City ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.