Lakewood, WA vs Mountlake Terrace, WA

There is a significant gap in the cost of living between these two cities. Lakewood is 20.5% cheaper than Mountlake Terrace. With a cost index of 118 vs 149, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Lakewood to Mountlake Terrace should plan for substantially higher expenses across most categories.

On the housing front, median rent in Lakewood is $1,460/month compared to $1,966/month in Mountlake Terrace — a 26% difference. Home values follow the same pattern: Lakewood is more affordable at $420,500 median vs $606,100.

Median household income in Lakewood is $70,524 compared to $101,404 in Mountlake Terrace (-30.5%). While Mountlake Terrace 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 23.3% in Mountlake Terrace.

Climate-wise, both cities share similar average temperatures (51.9°F vs 53.2°F). Lakewood receives more rainfall at 42" per year compared to 37.8" in Mountlake Terrace.