Highlands Ranch, CO vs. Lakewood, CO: Cost of Living Comparison (2025)
Lakewood residents pay nearly $500 more per month in housing costs compared to Highlands Ranch. This article provides a detailed cost of living comparison between Highlands Ranch and Lakewood. It is perfect for families relocating, professionals choosing between job offers, or anyone comparing the real-life cost of living in Highlands Ranch vs Lakewood in 2025.
1. Housing Costs
Housing is the biggest factor in the cost of living difference between Highlands Ranch and Lakewood. Here’s how typical housing expenses compare:
| Housing Type | Highlands Ranch | Lakewood |
|---|---|---|
| Median Home Price | $575,000 | $650,000 |
| Mortgage Payment (20% down) | $2,196/month | $2,482/month |
| Median Rent (2BR Apartment) | $1,950/month | $2,350/month |
🏆 Winner: Highlands Ranch. Homebuyers and renters can expect to pay around 15-20% less on housing in Highlands Ranch compared to Lakewood.
2. Utilities and Energy Costs
Utility costs are fairly similar between the two cities. Typical monthly bills for a 2BR apartment:
- Electricity: $90-$120
- Gas: $30-$50
- Water/Sewer/Trash: $60-$80
- Internet: $50-$80
Winter heating bills tend to be higher in both cities compared to summer A/C costs. Xcel Energy offers off-peak pricing plans that can help lower bills.
🏆 Winner: Tie. Utility costs are comparable between Highlands Ranch and Lakewood.
3. Groceries and Daily Expenses
Grocery prices and everyday goods are very similar in Highlands Ranch and Lakewood. Expect to spend around $400-$600 per month for a couple. Restaurant prices are nearly identical, with a nice dinner out costing about $60 for two people in either city.
🏆 Winner: Tie. The cost of groceries and daily living is almost the same in both cities.
4. Taxes and Fees
While neither city has its own local income tax, Lakewood has slightly higher property taxes:
- Highlands Ranch property tax rate: 0.67%
- Lakewood property tax rate: 0.73%
In Highlands Ranch, HOA fees often include landscaping and trash, ranging from $50-$300 per month. Lakewood has fewer HOAs.
🏆 Winner: Highlands Ranch. Lower property taxes and bundled HOA fees give Highlands Ranch a slight edge.
5. Cost Summary Table
| Monthly Expense | Highlands Ranch | Lakewood |
|---|---|---|
| Housing (Mortgage) | $2,196 | $2,482 |
| Utilities | $250 | $250 |
| Groceries | $500 | $500 |
| Transportation | $200 | $150 |
| Taxes and Fees | $300 | $350 |
| Misc Expenses | $400 | $400 |
| Estimated Monthly Total | $3,846 in Highlands Ranch | $4,132 in Lakewood |
6. Lifestyle Fit
While Lakewood is closer to downtown Denver, Highlands Ranch offers more space and newer housing. Some key differences:
- Highlands Ranch has larger homes and lots
- Lakewood is more walkable with public transit
- Lakewood is 5°F warmer on average than Highlands Ranch
- Highlands Ranch is quieter with less traffic
7. FAQ
Is Highlands Ranch more affordable than Lakewood?
Yes, Highlands Ranch is about 10% cheaper than Lakewood overall, mainly due to lower housing costs.
Which city has lower rent?
Highlands Ranch has lower rent, with a typical 2BR apartment costing $400 less per month than in Lakewood.
Where is it cheaper to buy a home?
Highlands Ranch homes are around 15% less expensive than comparable homes in Lakewood. Use our [Monthly Budget Examples for Highlands Ranch Residents](/highlands-ranch-co/monthly-budget/) to estimate your costs.
8. Conclusion
While both cities offer a high quality of life, Highlands Ranch is the more affordable option. Families looking for space or buyers on a budget will get more for their money in Highlands Ranch. However, Lakewood may appeal more to young professionals who value walkability and proximity to Denver.
Ultimately, the right choice depends on your lifestyle and priorities. Our [Cost of Living in Highlands Ranch (2025 Guide)](/highlands-ranch-co/cost-overview/) explores more factors to help with your decision. We recommend visiting both cities to get a feel for the vibe of each community before making a move.