Cost of Living in Medical Lake, WA

With a cost of living index of 87, Medical Lake, WA is a very affordable place to live. Living here is 13% cheaper than the national average and 32% below the Washington state average of 119. Medical Lake is a small community of 4,927 residents.

Housing costs are the biggest factor in Medical Lake's cost of living. The median monthly rent is $795 (40% below the US median of $1,319), and the median home value sits at $333,000 (9% above the national median of $304,900). At current prices, the median home costs roughly 4.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Medical Lake is $74,426, which is 1% lower than the national median of $75,149. Residents spend roughly 13% 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 Medical Lake. The area sees an average annual temperature of 48.6°F, with summers averaging 68°F and winters around 31°F. Annual rainfall totals 16.5 inches spread over roughly 113 days.

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.