Salary & Cost of Living in Lakewood, CO
Lakewood, CO: $70,200 median salary, cost of living index 110, $14.81/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$70,200
$34/hr
Cost of Living
110
US avg = 100
Minimum Wage
$14.81
per hour
Unemployment
3%
rate
Lakewood, CO Overview
Population
155,984
Median Salary
$70,200
Average Salary
$77,000
Avg Commute
26 min
Median Home Price
$470,000
Median Rent
$1,650/mo
Job Growth
+2%
Sales Tax
7.5%
Lakewood is located in Colorado with a population of 155,984. The median household salary is $70,200 per year ($34/hour), which is $10,816 above the national median of $59,384. The average commute time is 26 minutes, and the city has a job growth rate of +2%.
Lakewood Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Lakewood, CO, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$54,683
$4,556.91/month · $2,103.19/biweekly · Effective Rate: 22.1%
Gross Pay
$70,200
Federal Tax
-$7,058
State Tax
-$3,089
Local Tax
$0
FICA
-$5,370
Net Pay
$54,683
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,850.00 | $70,200.00 |
| Federal Income Tax | -$588.17 | -$7,058.00 |
| Colorado State Tax (4.4%) | -$257.40 | -$3,088.80 |
| Social Security (6.2%) | -$362.70 | -$4,352.40 |
| Medicare (1.45%) | -$84.83 | -$1,017.90 |
| Net Take-Home Pay | $4,556.91 | $54,682.90 |
Salary Comparison: Lakewood vs Other Cities
See how Lakewood's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Lakewood, CO | $70,200 | 110 | $63,818 |
| National Average | $59,384 | 100 | $59,384 |
| Rancho Cucamonga, CA | $70,000 | 118 | $59,322 |
| Westminster, CO | $70,000 | 108 | $64,815 |
| Durham, NC | $70,000 | 102 | $68,627 |
| Juneau, AK | $70,500 | 132 | $53,409 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Lakewood
Lakewood's cost of living index is 110 (national average = 100). Living in Lakewood is 10% more expensive than the national average.
Median Home Price
$470,000
Median Monthly Rent
$1,650
Annual Rent Cost
$19,800
Your Salary's Purchasing Power
Your $54,683 annual take-home pay in Lakewood has the purchasing power of approximately $49,712 in an average-cost US area. You would need to earn $77,220 in Lakewood to match a $70,200 salary in an average-cost city.
Top Industries in Lakewood
Lakewood's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $70,200.
Salary Tips for Lakewood Workers
- Research top industries. Lakewood's top industries include Government, Technology, Healthcare. Targeting roles in these sectors can help you earn above the $70,200 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Explore Salaries Across the US
Compare salary data and cost of living for hundreds of US cities. Find out where your paycheck goes the furthest.
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Frequently Asked Questions
What is the median salary in Lakewood, CO?
The median salary in Lakewood, CO is $70,200 per year, or $34 per hour. The average salary is $77,000. This is $10,816 above the national median of $59,384.
What is the cost of living in Lakewood, CO?
Lakewood's cost of living index is 110 (national average = 100), meaning it is 10% more expensive compared to the national average. The median home price is $470,000 and the median monthly rent is $1,650.
What are the best industries in Lakewood?
The top industries in Lakewood, CO include Government, Technology, Healthcare. The city has a job growth rate of 2% and an unemployment rate of 3%. Workers in these industries often earn above the city's median salary of $70,200.
How does Lakewood's salary compare to other cities?
Lakewood's median salary of $70,200 is 18.2% above the national median of $59,384. However, when adjusted for cost of living (index: 110), the real purchasing power is approximately $63,818.
What is the minimum wage in Lakewood, CO?
The minimum wage in Lakewood, CO is $14.81 per hour. This equals approximately $30,805 per year for a full-time worker (40 hours/week). This is $7.56 above the federal minimum wage of $7.25/hour.