Cost of Living in Loon Lake, WA

With a cost of living index of 89, Loon Lake, WA is a very affordable place to live. Living here is 11% cheaper than the national average and 30% below the Washington state average of 119. Loon Lake is a small community of 927 residents.

Housing costs are the biggest factor in Loon Lake's cost of living. The median monthly rent is $939 (29% below the US median of $1,319), and the median home value sits at $313,200 (3% above the national median of $304,900). At current prices, the median home costs roughly 4.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Loon Lake is $71,285, which is 5% lower 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.

Climate is another factor for anyone considering a move to Loon Lake. The area sees an average annual temperature of 45.6°F, with summers averaging 63°F and winters around 28°F. Annual rainfall totals 22.5 inches spread over roughly 124 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Spokane-Spokane Valley, 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.