Cost of Living in Lake Goodwin, WA

With a cost of living index of 138, Lake Goodwin, WA is a notably expensive place to live. Living here is 38% more expensive than the national average and 19% above the Washington state average of 119. Lake Goodwin is a smaller community of 5,682 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Lake Goodwin's cost of living. The median monthly rent is $1,439 (9% above the US median of $1,319), and the median home value sits at $670,200 (120% above the national median of $304,900). At current prices, the median home costs roughly 6.4x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Lake Goodwin is $104,028, which is 38% higher 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. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Lake Goodwin. The area sees an average annual temperature of 51.4°F, with summers averaging 62°F and winters around 41°F. Annual rainfall totals 33.4 inches spread over roughly 178 days.

Everyday prices in the Seattle-Tacoma-Bellevue, WA (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 5 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.