Lakewood, WA vs Mercer Island, WA

The cost of living difference between Lakewood, WA and Mercer Island, WA is dramatic. Lakewood is 56% cheaper than Mercer Island, a gap that translates to thousands of dollars per year in household expenses. Lakewood has a cost index of 118 while Mercer Island sits at 269, 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 $1,460/month compared to $2,464/month in Mercer Island — a 41% difference. Home values follow the same pattern: Lakewood is more affordable at $420,500 median vs $1,884,200.

Median household income in Lakewood is $70,524 compared to $202,359 in Mercer Island (-65.1%). While Mercer Island 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 24.8% of their income on rent, more than the 14.6% in Mercer Island.

Climate-wise, both cities share similar average temperatures (51.9°F vs 53.8°F). Lakewood receives more rainfall at 42" per year compared to 36.5" in Mercer Island.