Greenwood, IN vs. Lawrence, IN: Cost of Living Comparison (2025)
Which city gives you more for your money: Greenwood or Lawrence, Indiana? This article provides a detailed cost of living comparison to help families relocating, professionals choosing between job offers, or anyone comparing the real-life expenses of living in Greenwood vs Lawrence in 2025.
Housing Costs
Housing is often the biggest factor in cost of living. Here’s how typical rent and mortgage costs compare between Greenwood and Lawrence:
| Housing Type | Greenwood | Lawrence |
|---|---|---|
| 2BR Apartment (Monthly Rent) | $1,100 | $1,250 |
| 3BR House (Median Price) | $280,000 | $310,000 |
🏆 Winner: Greenwood. Housing costs an estimated 12-15% less in Greenwood compared to Lawrence.
Utilities and Energy Costs
Utility bills are another major monthly expense. In Greenwood, expect to pay around $180 per month for electricity, gas, water, and trash for a 2BR apartment. Costs may rise to $220/month during cold winter months.
Lawrence utility costs average slightly higher at $200/month, with winter bills around $250. Both cities offer budget billing to help even out seasonal spikes.
🏆 Winner: Greenwood. While utility costs are similar, Greenwood comes out about 10% cheaper.
Groceries and Daily Expenses
For a family of four, a typical monthly grocery budget in Greenwood is around $800. This assumes mostly cooking at home. Eating out for a family might add another $300/month.
In Lawrence, groceries for the same family would cost closer to $850/month, with dining out adding $350. Everyday goods and services cost about 5% more in Lawrence on average.
🏆 Winner: Greenwood. Expect to spend 5-10% less on food and daily expenses in Greenwood compared to Lawrence.
Taxes and Fees
Greenwood’s property tax rate is 0.87%, while Lawrence’s is 1.02%. For a $300,000 home, that’s a difference of $450 per year. Both cities charge a local income tax around 1.5% on top of Indiana’s flat 3.23% rate.
Greenwood does have slightly lower utility fees and service charges overall. For example, trash and recycling pickup costs $12/month in Greenwood vs $15 in Lawrence.
🏆 Winner: Greenwood. Lower property taxes and city fees give Greenwood the edge.
Cost Summary
| Expense Category | Greenwood | Lawrence |
|---|---|---|
| Housing (3BR mortgage*) | $1,350 | $1,500 |
| Utilities | $200 | $225 |
| Groceries | $800 | $850 |
| Transportation | $500 | $450 |
| Taxes | $600 | $650 |
| Misc Expenses | $400 | $450 |
| Estimated Monthly Total | $3,850 | $4,125 |
*Based on 10% down, 30-year fixed mortgage at 4% APR
Lifestyle Fit
While Greenwood offers a lower cost of living overall, each city has lifestyle tradeoffs to consider:
- Greenwood has more spacious lots and a small-town feel, but longer commutes to Indianapolis.
- Lawrence is more walkable and closer to city amenities, but with less square footage per dollar.
- Lawrence averages 5°F colder than Greenwood in January.
Frequently Asked Questions
Is Greenwood more affordable than Lawrence?
Yes, Greenwood has a lower overall cost of living, primarily due to cheaper housing, utilities, and taxes.
Which city has lower rent?
Greenwood rent prices are about 12% lower than Lawrence for a comparable apartment.
Where is it cheaper to buy a home?
Greenwood has lower median home prices and property tax rates, making it more affordable for buyers.
Conclusion
While both Greenwood and Lawrence offer a high quality of life, Greenwood comes out ahead in terms of affordability. A household moving from Lawrence to Greenwood might save $400/month on housing alone.
Greenwood is ideal for families looking for more space on a budget. However, those prioritizing walkability and shorter commutes may find Lawrence worth the added cost. Be sure to evaluate your monthly budget and review a full cost of living breakdown to make the best choice for your lifestyle and finances. You can also compare moving company costs and options to plan your relocation.