Bobs Creek vs Lakewood, true annual running costs compared 2026
Last updated July 2026 · council rates current NSW schedules, ATO 91c/km, Opal & Translink fares, AER electricity benchmarks
Bobs Creek and Lakewood are both Port Macquarie-Hastings rates (OLG suburbs, sitting 24 km and 26.1 km from Port Macquarie CBD respectively, and are commonly compared by buyers weighing up running costs within the same council area.
The two sit within $274 a year of each other to run, so running cost is a minor factor here. The decision comes down to schools, risk and lifestyle, all in the free report.
Over 10 years, Bobs Creek costs about $3,100 less to run than Lakewood. That's about $6 a week.
Get the free report: 10-year costs, flood & fire risk, crime, schools and overall verdict → Personalise this comparison with your own commute, home type and loan →Bobs Creek
Lakewood
Annual cost breakdown
| Category | Bobs Creek | Lakewood | Difference |
|---|---|---|---|
| Council rates Official, 2026-27 | $1,370 | $1,370 | - |
| Water & sewerage Estimated | $1,300 | $1,300 | - |
| Commute (driving) Modelled, 2026-27 | $5,871 | $6,145 | -$274 |
| Commute (public transport) Modelled, 2026-27 | $5,871 | $6,145 | -$274 |
| Home insurance Estimated | $3,100 | $3,100 | - |
| Body corporate (unit) Estimated | $1,500 | $1,500 | - |
| Total (driving) | $11,641 | $11,915 | -$274 |
| Total (public transport) | $11,641 | $11,915 | -$274 |
Totals exclude electricity, estimated separately below. Green = cheaper. Commute: ATO 91c/km, 220 working days. Insurance estimated from ACCC premium rates; actual premiums vary. Council rates: average residential rate (NSW, IPART-uplifted).
| Dwelling | Bobs Creek | Lakewood | Difference |
|---|---|---|---|
| House | $2,827 | $2,827 | - |
| Unit | $2,369 | $2,369 | - |
Estimated from AER residential benchmarks for each suburb's climate zone at 2026-27 regulated prices for each suburb's electricity network, including supply charge (AER Default Market Offer caps, or the QCA price in regional Queensland; unit ≈ 75% of a house). Get the free report for a breakdown by your exact number of occupants.
Cost breakdown chart
Annual cost breakdown, Bobs Creek vs Lakewood (2026-27)
What the numbers show
Bobs Creek and Lakewood cost within $274 of each other annually by car. Over ten years with 3% annual growth the gap reaches roughly $3,141, making running cost a minor factor in the decision.
The biggest single gap is commute costs at $274 per year. Lakewood is 26.1 km from Port Macquarie CBD, which drives higher annual driving costs at the ATO rate of 91c/km.
On public transport the gap is $274 per year, $11,641 from Bobs Creek versus $11,915 from Lakewood.
Where the difference actually comes from
- Council rates is identical at $1,370 a year.
- Water and sewerage is identical at $1,300 a year.
- Driving commute favours Bobs Creek by $274 a year, $5,871 against $6,145.
- Building insurance is identical at $3,100 a year.
Both suburbs sit in the same council area, so the rates line is identical and none of the difference between them comes from council. What separates them is commute distance.
The catchment state school scores 5.8 in Lakewood against 4 in Bobs Creek, on ACARA's ICSEA percentile scaled to ten.
10-year cumulative cost projection
| Year | Bobs Creek cumulative | Lakewood cumulative | Difference |
|---|---|---|---|
| Year 1 | $11,641 | $11,915 | $274 |
| Year 3 | $35,981 | $36,828 | $847 |
| Year 5 | $61,804 | $63,258 | $1,454 |
| Year 10 | $133,451 | $136,592 | $3,141 |
Assumes 3% annual cost growth. Excludes purchase price, mortgage, and personal expenses.
Frequently asked questions
Is Bobs Creek or Lakewood cheaper to live in?
Bobs Creek is cheaper to run by car at $11,641 per year versus $11,915 for Lakewood, a difference of $274 annually. Figures cover council rates, water, commute (ATO 91c/km), and home insurance. Source: SuburbCost 2026 data.
What are council rates in Bobs Creek and Lakewood?
Annual council rates for a house are $1,370 in Bobs Creek (Port Macquarie-Hastings rates (OLG) and $1,370 in Lakewood (Port Macquarie-Hastings rates (OLG). Water and sewerage adds $1,300 in Bobs Creek and $1,300 in Lakewood. Both figures are the average residential rate reported to the Office of Local Government, uplifted by each council's IPART rate peg.
How does the commute cost compare between Bobs Creek and Lakewood?
Annual driving commute costs are $5,871 from Bobs Creek and $6,145 from Lakewood to Port Macquarie CBD (ATO 91c/km). No daily public transport commute is assumed from either suburb, so both are costed by car.
What is the 10-year cost difference between Bobs Creek and Lakewood?
At 3% annual cost growth, Bobs Creek costs a cumulative $133,451 and Lakewood costs $136,592 over 10 years by car. The cumulative difference is $3,141 in favour of Bobs Creek. Excludes purchase price, mortgage, and personal expenses.
Which of Bobs Creek and Lakewood suits you better?
You've got the costs. Get the free personalised report for the rest: a clear verdict on which suburb wins, the full flood, fire and crime risk profile, nearest schools, estimated electricity cost by number of occupants, and your own loan or rent stress-tested over 10 years. No spam.
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Sources: Port Macquarie-Hastings rates (OLG and Port Macquarie-Hastings rates (OLG rate data, water utility pricing (QLD: Queensland Urban Utilities / Unitywater; NSW: Sydney Water / Hunter Water), ATO 91c/km, and SuburbCost insurance estimates from ACCC premium rates. Data updated July 2026.