Cost of Living in Lakeview, AL

With a cost of living index of 63, Lakeview, AL is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 11% below the Alabama state average of 74. Lakeview is a small community of 100 residents.

Housing costs are the biggest factor in Lakeview's cost of living. The median monthly rent is $825 (37% below the US median of $1,319), and the median home value sits at $76,700 (75% below the national median of $304,900). At current prices, the median home costs roughly 1.6x the median household income — well within traditional affordability guidelines.

The median household income in Lakeview is $48,750, which is 35% lower than the national median of $75,149. Residents spend roughly 20% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Lakeview. The area sees an average annual temperature of 59°F, with summers averaging 75°F and winters around 42°F. Annual rainfall totals 57.6 inches spread over roughly 125 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.