Cost of Living in Lake Waccamaw, NC

With a cost of living index of 90, Lake Waccamaw, NC is a very affordable place to live. Living here is 10% cheaper than the national average and 5% above the North Carolina state average of 84. Lake Waccamaw is a small community of 1,666 residents.

Housing costs are the biggest factor in Lake Waccamaw's cost of living. The median monthly rent is $1,069 (19% below the US median of $1,319), and the median home value sits at $294,800 (3% below the national median of $304,900). At current prices, the median home costs roughly 3.7x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lake Waccamaw is $79,844, which is 6% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.