Cost of Living in Lakewood, SC
Population 3,154 · South Carolina · Data vintage 2023
(100 = US avg)
Lakewood is a smaller South Carolina community of around 3000 residents, where median household incomes of $49,255 and housing costs ($261,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape. At 8.2%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Geographically, Lakewood is about 35 miles east of Columbia, the nearest large metro. Housing prices track closely with Columbia's $244,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lakewood
The median home value in Lakewood is $260,900 — 14% below the national median of $305,000. Median rent runs $928/month, 29% lower than the national median of $1,314/month. The median household income of $49,255/year is 34% lower than the US median of $74,580. The local unemployment rate is 8.2%, above the national average of 4.8%. South Carolina's top state income tax rate is 6.4% and the combined sales tax is 7.5%. The climate averages highs of 76.0°F and lows of 54.9°F. Overall, Lakewood has a cost of living index of 80 versus the US average of 100, meaning it is 20% less expensive.
Lakewood has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 57 | 61 | 69 | 77 | 84 | 90 | 93 | 91 | 86 | 77 | 67 | 60 |
| Low °F | 37 | 40 | 46 | 53 | 62 | 70 | 73 | 72 | 67 | 56 | 44 | 39 |
| Precip" | 3.41 | 3.27 | 3.48 | 2.70 | 2.95 | 4.77 | 4.80 | 4.65 | 4.33 | 3.07 | 2.78 | 3.47 |
Frequently Asked Questions
What is the cost of living in Lakewood, SC?
Lakewood has a cost index of 80 (100 = national average). It is 20% below the national average.
What is average rent in Lakewood, SC?
The median gross rent in Lakewood is $928 per month based on 2023 Census data.
What is the average home price in Lakewood?
The median home value in Lakewood is $260,900 according to 2023 Census ACS data.
What is the median income in Lakewood?
The median household income in Lakewood is $49,255 per year (2023 ACS 5-year estimates).
What is the sales tax in Lakewood, SC?
The combined state and local sales tax rate in Lakewood is 7.5%. The South Carolina state income tax top rate is 6.4%.
Is Lakewood, SC affordable?
Yes, Lakewood is generally considered affordable, with a cost of living index of 80 — about 20% below the US national average of 100.
What is the weather like in Lakewood?
Lakewood has average high temperatures of 76.0°F and average lows of 54.9°F. Annual precipitation is 43.7". Data from NOAA 1991–2020 Climate Normals.
Lakewood at a Glance
- Population
- 3,154
- Median Income
- $49,255
- Home Value
- $260,900
- Median Rent
- $928/mo
- Unemployment
- 8.2%
- Avg High Temp
- 76.0°F
- Sales Tax
- 7.5%
Explore county-level cost of living data
South Carolina Rankings
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