Lakewood, NY vs Malverne, NY

The cost of living difference between Lakewood, NY and Malverne, NY is dramatic. Lakewood is 44.3% cheaper than Malverne, a gap that translates to thousands of dollars per year in household expenses. Lakewood has a cost index of 83 while Malverne sits at 148, 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 $1,132/month compared to $1,861/month in Malverne — a 39% difference. Home values follow the same pattern: Lakewood is more affordable at $146,300 median vs $637,300.

Median household income in Lakewood is $70,962 compared to $146,585 in Malverne (-51.6%). While Malverne is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lakewood spend roughly 19.1% of their income on rent, more than the 15.2% in Malverne.

Climate-wise, Malverne is notably warmer with an average of 54.3°F compared to 48.8°F in Lakewood. Malverne receives more rainfall at 43.3" per year compared to 33" in Lakewood.