Salary Needed to Live in Lakewood as a Single
A single adult living independently needs approximately $23,265/year to live comfortably in Lakewood, NJ — including 10% savings.
Comfortable Salary
$23,265
with 10% savings
Bare Minimum
$20,033
no savings buffer
Monthly Expenses
$1,202
9% above national avg
Detailed Monthly Budget for a Single in Lakewood
| Expense | Lakewood | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 Studio/1BR Rent | $147 | $113 | +30% |
| 🛒 Groceries | $25 | $17 | +47% |
| ⚡ Utilities | $14 | $14 | 0% |
| 🚗 Transportation | $28 | $26 | +8% |
| 🛡️ Car Insurance | $201 | $229 | -12% |
| 🏥 Health Insurance | $65 | $58 | +12% |
| Internet | $73 | $65 | +12% |
| Phone | $95 | $85 | +12% |
| Dining & Social | $336 | $300 | +12% |
| Entertainment | $134 | $120 | +12% |
| Personal Care | $84 | $75 | +12% |
| Total Monthly | $1,202 | $1,102 | +9% |
How We Calculated the Salary
Monthly expenses:$1,202
Target savings (10%):$155/mo
Monthly after-tax needed:$1,357
Effective tax rate:28%
Gross annual salary needed:$23,265
Other Household Types in Lakewood
Related Pages
FAQ
What salary does a single person need in Lakewood?
A single person needs approximately $23,265/year ($1,939/month gross) to live comfortably in Lakewood with a 10% savings rate.
How much is rent for a single person in Lakewood?
A studio/1br in Lakewood costs approximately $147/month, which is the largest single expense at 12% of the total budget.
Is Lakewood affordable for a single person?
Lakewood is roughly average for single person costs, requiring a salary close to the national median.