Cost of Living in Palouse, WA

With a cost of living index of 87, Palouse, 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. Palouse is a small community of 1,131 residents.

Housing costs are the biggest factor in Palouse's cost of living. The median monthly rent is $933 (29% below the US median of $1,319), and the median home value sits at $261,000 (14% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Palouse is $92,875, which is 24% higher than the national median of $75,149. Residents spend roughly 12% 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 Palouse. The area sees an average annual temperature of 48.6°F, with summers averaging 65°F and winters around 33°F. Annual rainfall totals 17.5 inches spread over roughly 114 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.