Living comfortably in Lakewood, CO requires an estimated gross monthly income of $4,800 for a couple in 2025. For a clear picture of the cost of living in this Denver suburb, let’s break down the key monthly expenses, from housing to groceries to taxes.
Housing Costs in Lakewood
Housing is typically the biggest line item in any Lakewood resident’s budget. As of 2025, the median rent for a 2-bedroom apartment in Lakewood is approximately $1,900 per month. If you’re looking to purchase a home, a typical 3-bedroom house has a median mortgage payment around $2,400 monthly.
Keep in mind that many neighborhoods in Lakewood have Homeowners Associations (HOAs). While membership is often optional, choosing to join may add $200-400 to your monthly housing costs. However, this typically covers amenities like community pools, fitness centers, and well-maintained outdoor spaces.
| Housing | Estimated Monthly Cost |
|---|---|
| Median 2BR Apartment Rent | $1,900 |
| Median 3BR House Mortgage | $2,400 |
| Typical HOA Fee (Optional) | $200 – $400 |
Utilities and Energy Bills
Powering your Lakewood home will add to your monthly expenses. For a 1,000 square foot apartment, expect to pay around $120 for electricity, $60 for natural gas, $50 for water, and $30 for trash and recycling.
Keep in mind that utility costs can vary significantly based on the season and your home’s energy efficiency. Summers in Lakewood can get quite warm, so budget an extra $40-80 per month for cooling costs from June through August.
Here’s a monthly utilities estimate for a typical Lakewood apartment:
- Electricity: $120
- Natural Gas: $60
- Water: $50
- Trash & Recycling: $30
Groceries and Daily Expenses
Food is another significant part of any Lakewood budget. Expect to spend around $400 per month on groceries for a single person, or $800 for a couple. This assumes a mix of cooking at home and dining out occasionally.
A typical grocery basket in Lakewood might include:
- Gallon of Milk: $3.50
- Loaf of Bread: $2.75
- Dozen Eggs: $3.00
- Pound of Chicken: $4.50
Don’t forget household essentials like toiletries, cleaning supplies, and paper goods. Budget $50-100 per month for these items, depending on your household size.
Taxes and Fees in Lakewood
As a Lakewood property owner, you’ll owe annual property taxes. The rate in Lakewood is around 0.6%, so the owner of a $500,000 home would pay about $3,000 per year, or $250 per month.
Sales tax in Lakewood is 7.5%, which includes the base Colorado rate of 2.9% plus local taxes. If you own a vehicle, registration fees in Jefferson County (which includes Lakewood) run about $75 annually for a passenger car.
| Tax or Fee | Estimated Monthly Cost |
|---|---|
| Property Tax (0.6% on $500K home) | $250 |
| Vehicle Registration (Annualized) | $6.25 |
Monthly Budget Summary for Lakewood
So what does it really cost to live in Lakewood? Here’s a sample monthly budget for a couple:
| Expense Category | Estimated Monthly Cost |
|---|---|
| Housing (2BR Apartment) | $1,900 |
| Utilities | $300 |
| Groceries & Dining | $800 |
| Household Essentials | $100 |
| Property Tax | $250 |
| Vehicle Costs & Gas | $300 |
| Health Insurance | $500 |
| Entertainment & Misc. | $400 |
| Monthly Total (Gross) | $4,550 |
For a single person, the total is closer to $3,200 per month. Of course, your specific budget will depend on your lifestyle, housing choices, and spending habits.
Lifestyle Considerations in Lakewood
Lakewood offers a comfortable suburban lifestyle with relatively easy access to downtown Denver. Commute times to the city center average 25-35 minutes. The tradeoff is more affordable housing compared to Denver proper, with the typical home about 20% less expensive.
Lakewood is known for its extensive park system, with over 7,000 acres of green space and trails. Locals enjoy outdoor activities year-round, from hiking and biking in the summer to skiing in the nearby mountains during winter.
While Lakewood has its share of older homes, there are also plenty of newer construction and apartment options. Older homes may have lower price tags but higher maintenance costs, so consider your priorities and budget carefully.
Frequently Asked Questions
Q: How much do you need to earn to live comfortably in Lakewood?
A: For a couple, aim for a combined gross income of at least $4,800 per month ($57,600 annually) to live a comfortable lifestyle in Lakewood.
Q: Is Lakewood less expensive than living in Denver?
A: Yes, housing costs in Lakewood are typically 20% lower than in Denver proper. You’ll get more space for your dollar in the suburbs.
Q: Are utilities expensive in Lakewood?
A: Utilities are fairly moderate, averaging $250-300 per month for a typical apartment. However, costs can spike in the summer due to air conditioning.
Q: How much is the typical grocery bill in Lakewood?
A: Expect to spend around $400 per month on groceries for a single person, or $800 for a couple, assuming a mix of cooking and dining out.
Q: What is the sales tax rate in Lakewood?
A: The total sales tax rate in Lakewood is 7.5%, which includes both Colorado state tax and local taxes.
Q: How does the cost of living in Lakewood compare to other Denver suburbs?
A: Lakewood is quite comparable to suburbs like Arvada and Wheat Ridge. It’s slightly less expensive than Littleton or Highlands Ranch.
Q: What’s the job market like in Lakewood?
A: Lakewood has a diverse economy with major employers in healthcare, education, retail, and professional services. The unemployment rate is typically 1-2% lower than the national average.
Living comfortably in Lakewood, CO requires an estimated gross monthly income of $4,800 for a couple in 2025. For a clear picture of the cost of living in this Denver suburb, let’s break down the key monthly expenses, from housing to groceries to taxes.
Housing Costs in Lakewood
Housing is typically the biggest line item in any Lakewood resident’s budget. As of 2025, the median rent for a 2-bedroom apartment in Lakewood is approximately $1,900 per month. If you’re looking to purchase a home, a typical 3-bedroom house has a median mortgage payment around $2,400 monthly.
Keep in mind that many neighborhoods in Lakewood have Homeowners Associations (HOAs). While membership is often optional, choosing to join may add $200-400 to your monthly housing costs. However, this typically covers amenities like community pools, fitness centers, and well-maintained outdoor spaces.
| Housing | Estimated Monthly Cost |
|---|---|
| Median 2BR Apartment Rent | $1,900 |
| Median 3BR House Mortgage | $2,400 |
| Typical HOA Fee (Optional) | $200 – $400 |
Utilities and Energy Bills
Powering your Lakewood home will add to your monthly expenses. For a 1,000 square foot apartment, expect to pay around $120 for electricity, $60 for natural gas, $50 for water, and $30 for trash and recycling.
Keep in mind that utility costs can vary significantly based on the season and your home’s energy efficiency. Summers in Lakewood can get quite warm, so budget an extra $40-80 per month for cooling costs from June through August.
Here’s a monthly utilities estimate for a typical Lakewood apartment:
- Electricity: $120
- Natural Gas: $60
- Water: $50
- Trash & Recycling: $30
Groceries and Daily Expenses
Food is another significant part of any Lakewood budget. Expect to spend around $400 per month on groceries for a single person, or $800 for a couple. This assumes a mix of cooking at home and dining out occasionally.
A typical grocery basket in Lakewood might include:
- Gallon of Milk: $3.50
- Loaf of Bread: $2.75
- Dozen Eggs: $3.00
- Pound of Chicken: $4.50
Don’t forget household essentials like toiletries, cleaning supplies, and paper goods. Budget $50-100 per month for these items, depending on your household size.
Taxes and Fees in Lakewood
As a Lakewood property owner, you’ll owe annual property taxes. The rate in Lakewood is around 0.6%, so the owner of a $500,000 home would pay about $3,000 per year, or $250 per month.
Sales tax in Lakewood is 7.5%, which includes the base Colorado rate of 2.9% plus local taxes. If you own a vehicle, registration fees in Jefferson County (which includes Lakewood) run about $75 annually for a passenger car.
| Tax or Fee | Estimated Monthly Cost |
|---|---|
| Property Tax (0.6% on $500K home) | $250 |
| Vehicle Registration (Annualized) | $6.25 |
Monthly Budget Summary for Lakewood
So what does it really cost to live in Lakewood? Here’s a sample monthly budget for a couple:
| Expense Category | Estimated Monthly Cost |
|---|---|
| Housing (2BR Apartment) | $1,900 |
| Utilities | $300 |
| Groceries & Dining | $800 |
| Household Essentials | $100 |
| Property Tax | $250 |
| Vehicle Costs & Gas | $300 |
| Health Insurance | $500 |
| Entertainment & Misc. | $400 |
| Monthly Total (Gross) | $4,550 |
For a single person, the total is closer to $3,200 per month. Of course, your specific budget will depend on your lifestyle, housing choices, and spending habits.
Lifestyle Considerations in Lakewood
Lakewood offers a comfortable suburban lifestyle with relatively easy access to downtown Denver. Commute times to the city center average 25-35 minutes. The tradeoff is more affordable housing compared to Denver proper, with the typical home about 20% less expensive.
Lakewood is known for its extensive park system, with over 7,000 acres of green space and trails. Locals enjoy outdoor activities year-round, from hiking and biking in the summer to skiing in the nearby mountains during winter.
While Lakewood has its share of older homes, there are also plenty of newer construction and apartment options. Older homes may have lower price tags but higher maintenance costs, so consider your priorities and budget carefully.
Frequently Asked Questions
Q: How much do you need to earn to live comfortably in Lakewood?
A: For a couple, aim for a combined gross income of at least $4,800 per month ($57,600 annually) to live a comfortable lifestyle in Lakewood.
Q: Is Lakewood less expensive than living in Denver?
A: Yes, housing costs in Lakewood are typically 20% lower than in Denver proper. You’ll get more space for your dollar in the suburbs.
Q: Are utilities expensive in Lakewood?
A: Utilities are fairly moderate, averaging $250-300 per month for a typical apartment. However, costs can spike in the summer due to air conditioning.
Q: How much is the typical grocery bill in Lakewood?
A: Expect to spend around $400 per month on groceries for a single person, or $800 for a couple, assuming a mix of cooking and dining out.
Q: What is the sales tax rate in Lakewood?
A: The total sales tax rate in Lakewood is 7.5%, which includes both Colorado state tax and local taxes.
Q: How does the cost of living in Lakewood compare to other Denver suburbs?
A: Lakewood is quite comparable to suburbs like Arvada and Wheat Ridge. It’s slightly less expensive than Littleton or Highlands Ranch.
Q: What’s the job market like in Lakewood?
A: Lakewood has a diverse economy with major employers in healthcare, education, retail, and professional services. The unemployment rate is typically 1-2% lower than the national average.