Salary Needed to Live in Lakewood as a Family
A family of four (2 adults, 2 children) needs approximately $69,221/year to live comfortably in Lakewood, NJ — including 15% savings.
Comfortable Salary
$69,221
with 15% savings
Bare Minimum
$54,800
no savings buffer
Monthly Expenses
$3,288
12% above national avg
Detailed Monthly Budget for a Family in Lakewood
| Expense | Lakewood | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 3BR Apartment/House Rent | $274 | $209 | +31% |
| 🛒 Groceries | $64 | $44 | +45% |
| ⚡ Utilities | $27 | $28 | -4% |
| 🚗 Transportation | $47 | $44 | +7% |
| 🛡️ Car Insurance | $201 | $229 | -12% |
| 🏥 Health Insurance | $65 | $58 | +12% |
| Childcare/After-school | $1,344 | $1,200 | +12% |
| Internet + Phones | $202 | $180 | +12% |
| Children Activities | $280 | $250 | +12% |
| Dining Out | $392 | $350 | +12% |
| School Supplies & Clothing | $224 | $200 | +12% |
| Healthcare Co-pays | $168 | $150 | +12% |
| Total Monthly | $3,288 | $2,942 | +12% |
How We Calculated the Salary
Monthly expenses:$3,288
Target savings (15%):$733/mo
Monthly after-tax needed:$4,021
Effective tax rate:28%
Gross annual salary needed:$69,221
Other Household Types in Lakewood
Related Pages
FAQ
What salary does a family with kids need in Lakewood?
A family with kids needs approximately $69,221/year ($5,768/month gross) to live comfortably in Lakewood with a 15% savings rate.
How much is rent for a family with kids in Lakewood?
A 3br apartment/house in Lakewood costs approximately $274/month, which is the largest single expense at 8% of the total budget.
Is Lakewood affordable for a family with kids?
Lakewood is above the national average for family with kids living costs, requiring 12% more salary than the US median.