Cost of Living in Lakeview, OR

With a cost of living index of 84, Lakeview, OR is a very affordable place to live. Living here is 16% cheaper than the national average and 23% below the Oregon state average of 106. Lakeview is a small community of 3,043 residents.

Housing costs are the biggest factor in Lakeview's cost of living. The median monthly rent is $1,021 (23% below the US median of $1,319), and the median home value sits at $198,000 (35% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Lakeview is $70,436, which is 6% lower than the national median of $75,149. Residents spend roughly 17% 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 42.9°F, with summers averaging 60°F and winters around 28°F. Annual rainfall totals 15.5 inches spread over roughly 105 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.