Cost of Living in Lake View, SC

With a cost of living index of 61, Lake View, SC is one of the most affordable cities in the country. Living here is 39% cheaper than the national average and 21% below the South Carolina state average of 82. Lake View is a small community of 661 residents.

Housing costs are the biggest factor in Lake View's cost of living. The median monthly rent is $703 (47% below the US median of $1,319), and the median home value sits at $80,000 (74% below the national median of $304,900). At current prices, the median home costs roughly 2.6x the median household income — well within traditional affordability guidelines.

The median household income in Lake View is $31,033, which is 59% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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 Lake View. The area sees an average annual temperature of 63.5°F, with summers averaging 80°F and winters around 47°F. Annual rainfall totals 42.6 inches spread over roughly 118 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

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.