Boulder, CO vs. Lakewood, CO: Cost of Living Comparison (2025)
Considering a move to Boulder or Lakewood, Colorado? Housing costs in Boulder average a whopping $800 more per month compared to Lakewood for a typical 2-bedroom apartment. But which city comes out ahead when you factor in utilities, groceries, taxes and more? This article provides a complete cost of living comparison of Boulder vs Lakewood to help families, professionals and renters choose the best city for their budget and lifestyle in 2025.
1. Housing Costs
Housing is the biggest factor in the cost of living difference between Boulder and Lakewood. Here’s how typical rent and mortgage costs compare:
| Housing Type | Boulder | Lakewood |
|---|---|---|
| 2BR Apartment (Rent) | $2,400 | $1,600 |
| 3BR House (Mortgage) | $3,500 | $2,800 |
🏆 Winner: Lakewood. Housing costs are significantly lower in Lakewood compared to Boulder, with savings of $700-800 per month on average for both renting and buying.
2. Utilities and Energy Costs
Utility costs also differ between the two cities. Boulder residents can expect to pay around $180 per month for a typical apartment, while Lakewood utility bills average closer to $150.
Both cities experience cold winters and hot summers, so heating and cooling needs are similar. However, Boulder offers more energy-efficiency incentives and renewable energy programs that can help lower costs.
🏆 Winner: Lakewood has a slight edge on utility costs, but Boulder’s green energy options are attractive for eco-conscious residents.
3. Groceries and Daily Expenses
Grocery costs are fairly comparable between Boulder and Lakewood. Expect to spend around $400 per month on food for a single person in either city, or $1,000+ for a family of four.
Dining out is a bit pricier in Boulder, with entrees at casual restaurants averaging $15-20 compared to $12-18 in Lakewood. Boulder has more upscale, farm-to-table options that tend to cost more.
🏆 Winner: Lakewood wins for slightly lower dining costs, but grocery bills are neck and neck.
4. Taxes and Fees
Colorado has a flat 4.4% income tax rate statewide. However, Boulder has higher property taxes than Lakewood:
- Boulder property tax rate: 0.81%
- Lakewood property tax rate: 0.70%
For a $500K home, that’s a difference of $550 per year. Boulder also has higher sales taxes and some extra fees, like a disposable bag fee.
🏆 Winner: Lakewood. Lower property and sales tax rates add up to hundreds in savings per year compared to Boulder.
5. Total Monthly Cost of Living
So how does it all add up? Here’s a summary of estimated monthly expenses in Boulder vs Lakewood:
| Category | Boulder | Lakewood |
|---|---|---|
| Housing (2BR Rent) | $2,400 | $1,600 |
| Utilities | $180 | $150 |
| Groceries | $400 | $400 |
| Transportation | $100 | $80 |
| Taxes (Income & Property*) | $1,000 | $800 |
| Miscellaneous | $500 | $400 |
| Estimated Monthly Total | $4,580 | $3,430 |
*Based on gross monthly income of $8,000 and a $500K home value.
The bottom line? Living in Boulder costs about $1,150 more per month than Lakewood, mainly due to higher housing, taxes, and slightly pricier dining and entertainment options.
6. Lifestyle Considerations
Of course, cost is just one factor when choosing between Boulder and Lakewood. Consider other tradeoffs:
- Lakewood offers more space for your money, with larger apartments and homes on average.
- Boulder is more walkable and bike-friendly, with an extensive network of paths and trails.
- Lakewood has better public transit access to Denver, while Boulder has more traffic heading in and out.
- Boulder has stunning mountain views, while Lakewood feels more suburban.
Lakewood is 5°F warmer than Boulder on average. But Boulder is 1,000 feet higher in elevation, so it gets more snow.
7. FAQs
Q: Is Boulder more expensive than Lakewood?
A: Yes, the cost of living in Boulder is about 33% higher than Lakewood, mainly due to housing costs.
Q: Which city has lower rent prices?
A: Lakewood has significantly lower rent prices. A typical 2BR apartment is $800 less per month compared to Boulder.
Q: Is it cheaper to buy a house in Boulder or Lakewood?
A: Lakewood is more affordable for homebuyers, with average prices around $550,000 compared to $850,000+ in Boulder.
8. Conclusion
While both are attractive Front Range cities, Lakewood offers a significantly lower cost of living than Boulder. Lakewood is the clear choice for budget-conscious renters and buyers who want more space for their money.
However, Boulder’s higher costs come with perks like stunning scenery, a vibrant downtown, and an outdoorsy culture. It’s ideal for high earners who value walkability and don’t mind paying a premium to live in a picturesque college town.
Carefully weigh each factor that goes into the cost of living, as well as the lifestyle tradeoffs, to decide which city is right for you. Dig deeper with our Monthly Budget Examples for Boulder Residents and Cost of Living in Boulder (2025 Guide).