Lakewood, OH vs Niles, OH

The cost of living difference between Lakewood, OH and Niles, OH is dramatic. Niles is 32.2% cheaper than Lakewood, a gap that translates to thousands of dollars per year in household expenses. Lakewood has a cost index of 83 while Niles sits at 63, 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 $1,013/month compared to $787/month in Niles — a 29% difference. Home values follow the same pattern: Niles is more affordable at $108,400 median vs $241,500.

Median household income in Lakewood is $65,925 compared to $49,987 in Niles (+31.9%). The higher salaries in Lakewood partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Lakewood spend roughly 18.4% of their income on rent, less than the 18.9% in Niles.