Quick facts: Lake placid, NY

Quick Facts

113.7
Cost of Living
above US average
2,227
Population
13.92
Crime Rate per 1000
below US average
$53,475
Median Income
below US average
$360,000
Median House Price
above US average
$2943
Average Rent
above US average
6%
Poverty Rate
below US average
4.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $53,475.

🏠

Income Needed to Buy

βœ— Stretch
$113k/year
Based on $360,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $113k vs median $53,475
🏒

Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $53,475
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lake placid, NY

Lake Placid, NY, is a picturesque village nestled in the heart of the Adirondack Mountains. Known primarily for its stunning lakes and outdoor recreational opportunities, Lake Placid is a year-round destination attracting nature enthusiasts and adventure seekers alike. The area is famous for hosting the Winter Olympics twice, in 1932 and 1980, which has ingrained a rich sports culture in the community. Visitors can enjoy activities such as hiking, skiing, and snowboarding, with the nearby Whiteface Mountain offering some of the best skiing in the East. The village is also surrounded by beautiful lakes, perfect for swimming, fishing, and kayaking during the warmer months. The scenic beauty of the region is complemented by a charming downtown area featuring local shops, restaurants, and museums reflecting the area's Olympic history. With a population of just over 2,000, Lake Placid retains a small-town charm, making it an inviting getaway for those seeking tranquility amidst nature's splendor. Whether you’re looking for adventure or relaxation, Lake Placid offers a unique blend of both.

πŸ” Search & Compare Places

First Location πŸ“