Lakewood, NY vs Waddington, NY

Waddington is moderately more affordable than Lakewood, with a 11.5% lower cost of living index. Lakewood scores 83 compared to 74 for Waddington, where the US average is 100. This difference means residents of Lakewood can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Lakewood is $1,132/month compared to $718/month in Waddington — a 58% difference. Interestingly, home values tell a different story: while Waddington has cheaper rent, Lakewood actually has lower median home values ($146,300 vs $195,800).

Median household income in Lakewood is $70,962 compared to $69,375 in Waddington (+2.3%). 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 19.1% of their income on rent, more than the 12.4% in Waddington.