Lake Heights vs Warrawong: true annual running costs compared (2026)
Last updated July 2026 · council rates current NSW schedules, ATO 91c/km, Opal & Translink fares, AER electricity benchmarks
Lake Heights and Warrawong are both Wollongong rates (OLG suburbs, sitting 75.4 km and 75.2 km from Sydney CBD respectively, and are commonly compared by buyers weighing up running costs within the same council area.
Lake Heights runs $640 a year cheaper than Warrawong, driven mostly by home insurance. Over 10 years at 3% growth that gap compounds to about $7,337.
Over 10 years these two cost about the same to run. The difference here isn't money — it's location, schools and lifestyle.
Get the free report: 10-year costs, flood & fire risk, crime, schools and overall verdict →Lake Heights
Warrawong
Annual cost breakdown
| Category | Lake Heights | Warrawong | Difference |
|---|---|---|---|
| Council rates | $1,819 | $1,819 | - |
| Water & sewerage | $1,548 | $1,548 | - |
| Commute (driving) | $3,294 | $3,284 | +$10 |
| Commute (public transport) | $2,400 | $2,400 | - |
| Home insurance | $2,150 | $2,800 | -$650 |
| Body corporate (unit) | $1,800 | $1,800 | - |
| Total (driving) | $8,811 | $9,451 | -$640 |
| Total (public transport) | $7,917 | $8,567 | -$650 |
Green = cheaper. Commute: ATO 91c/km, 220 working days. Insurance AI-estimated; actual premiums vary. Council rates: average residential rate (NSW, IPART-uplifted).
| Dwelling | Lake Heights | Warrawong | Difference |
|---|---|---|---|
| House | $2,442 | $2,442 | - |
| Unit | $2,001 | $2,001 | - |
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 — Lake Heights vs Warrawong (2026-27)
What the numbers show
Lake Heights costs $640 less per year to run by car. Held over ten years at 3% annual cost growth, that gap compounds to $7,337 in favour of Lake Heights.
The biggest single gap is home insurance at $650 per year. Warrawong carries high flood risk, which pushes estimated premiums higher.
On public transport the gap is $650 per year, $7,917 from Lake Heights versus $8,567 from Warrawong.
Where the difference actually comes from
- Council rates is identical at $1,819 a year.
- Water and sewerage is identical at $1,548 a year.
- Driving commute favours Warrawong by $10 a year, $3,284 against $3,294.
- Building insurance favours Lake Heights by $650 a year, $2,150 against $2,800.
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 and the insurance band.
Flood risk is rated high in Warrawong against medium in Lake Heights, which feeds the insurance estimate. The catchment state school scores 4.5 in Lake Heights against 3.3 in Warrawong, on ACARA's ICSEA percentile scaled to ten.
10-year cumulative cost projection
| Year | Lake Heights cumulative | Warrawong cumulative | Difference |
|---|---|---|---|
| Year 1 | $8,811 | $9,451 | $640 |
| Year 3 | $27,234 | $29,212 | $1,978 |
| Year 5 | $46,779 | $50,177 | $3,398 |
| Year 10 | $101,008 | $108,345 | $7,337 |
Assumes 3% annual cost growth. Excludes purchase price, mortgage, and personal expenses.
Frequently asked questions
Is Lake Heights or Warrawong cheaper to live in?
Lake Heights is cheaper to run by car at $8,811 per year versus $9,451 for Warrawong, a difference of $640 annually. Figures cover council rates, water, commute (ATO 91c/km), and home insurance. Source: SuburbCost 2026 data.
What are council rates in Lake Heights and Warrawong?
Annual council rates for a house are $1,819 in Lake Heights (Wollongong rates (OLG) and $1,819 in Warrawong (Wollongong rates (OLG). Water and sewerage adds $1,548 in Lake Heights and $1,548 in Warrawong. 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 Lake Heights and Warrawong?
Annual driving commute costs are $3,294 from Lake Heights and $3,284 from Warrawong to Sydney CBD (ATO 91c/km). Public transport costs $2,400 from Lake Heights and $2,400 from Warrawong.
What is the 10-year cost difference between Lake Heights and Warrawong?
At 3% annual cost growth, Lake Heights costs a cumulative $101,008 and Warrawong costs $108,345 over 10 years by car. The cumulative difference is $7,337 in favour of Lake Heights. Excludes purchase price, mortgage, and personal expenses.
Which of Lake Heights and Warrawong is best to actually live in?
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.
Related comparisons
Sources: Wollongong rates (OLG and Wollongong rates (OLG rate data, water utility pricing (QLD: Queensland Urban Utilities / Unitywater; NSW: Sydney Water / Hunter Water), ATO 91c/km, and SuburbCost AI insurance estimates. Data updated July 2026.