Lake Placid, NY is a popular vacation destination located in the Adirondack Mountains. The cost of living in Lake Placid is fairly low relative to the rest of the United States, with two bedroom rent costing $940 versus the US average of $1,430 and a grocery cost index of 110 compared to the national index of 100. Popular local businesses include The Book Store Plus, an independent bookstore, and High Peaks Cyclery, a bike shop specializing in mountain bikes. Outdoor activities are plentiful; some major attractions include Whiteface Mountain, Mirror Lake, and the Olympic Center. Visitors can ski at Whiteface Mountain or take part in winter biathlon events at the Olympic Center. Mirror Lake is also a popular summer destination for swimming, canoeing, and kayaking.
Lake Placid has an unemployment rate of 6.8%. The US average is 6.0%.
Lake Placid has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 23.8%, which is lower than the US average of 33.5%.
Tax Rates for Lake Placid
- The Sales Tax Rate for Lake Placid is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Placid is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Placid
- The average income of a Lake Placid resident is $32,804 a year. The US average is $28,555 a year.
- The Median household income of a Lake Placid resident is $47,050 a year. The US average is $69,021 a year.