Cost of Living in Lake placid, NY
Housing
The housing market plays a significant role in determining the cost of living in Lake placid, NY.
- Housing Index: 118.8 / 100
- Median Home Price is: $325,000
- Average Rent (2 BR Apartment): $2943 per month
- Average Rent (2 BR House): $3199 per month
When considering a move to Lake placid, NY, let’s analyze the real estate landscape. With a housing index of 118.8, you may find it more expensive compared to national averages. The median home price sits at 325000, which could be a significant investment. Renting options also reflect the higher market, with average rents for a 2-bedroom apartment at 2943 and a house slightly higher at 3199. While the housing might strain your budget, consider factors like local amenities, job opportunities, and lifestyle, which could offset costs in the long run.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lake placid, NY.
- Electricity Price: $26.08 USD (median by state)
- Natural Gas Price: $18.13 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $259 per month
Living in Lake placid, NY could entail higher utility costs. Electricity costs sit at $26.08, while natural gas is priced at $18.13 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $259 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Lake placid is a financially viable option for your relocation.