Lakewood, OH vs Portsmouth, OH

The cost of living difference between Lakewood, OH and Portsmouth, OH is dramatic. Portsmouth is 32% cheaper than Lakewood, a gap that translates to thousands of dollars per year in household expenses. Lakewood has a cost index of 83 while Portsmouth 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 $758/month in Portsmouth — a 34% difference. Home values follow the same pattern: Portsmouth is more affordable at $95,000 median vs $241,500.

Median household income in Lakewood is $65,925 compared to $35,319 in Portsmouth (+86.7%). While Lakewood 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 18.4% of their income on rent, less than the 25.8% in Portsmouth.