Cost of Living in Lakeview, WA

With a cost of living index of 84, Lakeview, WA is a very affordable place to live. Living here is 16% cheaper than the national average and 35% below the Washington state average of 119. Lakeview is a small community of 1,601 residents.

Housing costs are the biggest factor in Lakeview's cost of living. The median monthly rent is $993 (25% below the US median of $1,319), and the median home value sits at $200,300 (34% below the national median of $304,900). At current prices, the median home costs roughly 4.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Lakeview is $49,167, which is 35% lower than the national median of $75,149. Residents spend roughly 24% 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 51.5°F, with summers averaging 72°F and winters around 31°F. Annual rainfall totals 7.6 inches spread over roughly 71 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.