Retirees and second home buyers may think no place they could desire offers both a luxurious lifestyle and a low cost of living. But Smith Mountain Lake is one of those rare destinations that has both. According to Realtor Magazine’s cost of living comparison, the metro areas of Roanoke and Lynchburg, the two cities closest to SML, and Franklin County, one of the primary counties Smith Mountain Lake locals reside in are considerably lower in cost of living than larger cities and well-known vacation and retirement destinations. In fact, Realtor Mag ranks these areas’ overall cost index at an average of 85 out of 155, compared to Washington DC’s metro area at 121, Charleston, S. C. at 102, West Palm Beach, FL at 114 and Norfolk, VA at 109.
When it comes to comparing the cost of living at Smith Mountain Lake to other favorable family living or retirement destinations, similar locations don’t hold a candle to us. It is possible to live somewhere as beautiful and desirable as Smith Mountain Lake and not compromise with high living costs. Just one more great reason to check out real estate in Smith Mountain Lake, Virginia!