LCOL

What Does LCOL Mean in a Text?

Definition of LCOL

LCOL stands for 'Low Cost of Living.' It is used to talk about places where everyday expenses like rent, groceries, and transport are relatively affordable.

No Longer Undesirable

LCOL describes a geographic area where the essential expenses are significantly lower than the national average. (Places like Wichita and Little Rock (United States), Sunderland (United Kingdom), Coober Pedy (Australia) and Invercargill (New Zealand).) It is often seen in chats about remote work, moving cities, budgeting, and real estate.

image for LCOL, showing the words 'life hack'

Prior to 2020, LCOL was often a polite way of saying "the middle of nowhere" or "undesirable." It was associated with fewer jobs and less "culture." However, as remote work has taken off since the pandemic it has gained a more positive vibe. It is now seen as a strategic life hack. With the rise of the "Financial Independence, Retire Early" (FIRE) movement, living in an LCOL area is seen as a smart way to "cheat the system" and build wealth faster.

Cost of Living Cheat Sheet

LCOL is one of four abbreviations often used to talk about affordability:

LCOL (Low Cost of Living): Areas where housing, taxes, and essentials are significantly below the national average.
MCOL (Medium Cost of Living): Mid-tier regions that offer a balance between affordability and urban amenities.
HCOL (High Cost of Living): Major hubs with high demand, expensive real estate, and higher salaries.
VHCOL (Very High Cost of Living): The most expensive global tier where housing costs are often extreme.

The Middle of Nowhere?

LCOL now has a positive vibe

Summary of Key Points

LCOL
Definition:	Low Cost of Living
Type:	Abbreviation and Acronym
Guessability:	3: Guessable
Typical Users:	Adults

An Academic Look at LCOL

LCOL is technically both an initialism and an acronym. It can be pronounced letter by letter — "L-C-O-L," but is also pronounced as a word "el-kohl". Take your pick!