Quick facts: Old forge, NY

Quick Facts

113.7
Cost of Living
above US average
756
Population
13.23
Crime Rate per 1000
below US average
$60,000
Median Income
below US average
$499,900
Median House Price
above US average
$2150.0
Average Rent
above US average
12%
Poverty Rate
above US average
4.5%
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 $60,000.

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Income Needed to Buy

βœ— Stretch
$157k/year
Based on $499,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $157k vs median $60,000
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Income Needed to Rent

⚠ Stretch
$92k/year
Based on $2150.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $92k vs median $60,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Old forge, NY

Old Forge is a charming town located in the heart of the Adirondack Mountains in New York State. Known as the β€œGateway to the Adirondacks,” Old Forge is a popular destination for outdoor enthusiasts, offering an array of activities year-round. In the summer, visitors can enjoy hiking, biking, and kayaking through the scenic landscapes. The nearby Fulton Chain of Lakes provides opportunities for fishing and boating, while the picturesque Old Forge Lake is ideal for swimming and picnicking. During the winter months, Old Forge transforms into a winter wonderland, attracting skiers and snowboarders to the renowned McCauley Mountain Ski Area. The town boasts a network of snowmobile trails, making it a prime location for snowmobiling adventures. The vibrant community hosts various events and festivals throughout the year, including the Old Forge Winter Carnival and a popular Arts and Crafts Festival in the summer. Visitors can explore local shops, dine in cozy restaurants, and experience small-town charm coupled with stunning natural beauty. Old Forge truly offers a unique blend of recreation, relaxation, and cultural experiences in the Adirondacks.

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