Housing costs in Lake Placid?
A typical home costs
$327,600, which is 3.1% less expensive than the national average of
$338,100 and 20.8% less expensive than the average New York home, at
$413,600. Renting a two-bedroom unit in Lake Placid costs
$940 per month, which is 34.3% cheaper than the national average of
$1,430 and 108.5% cheaper than the state average of
$1,960.
Can I afford Lake Placid?
To live comfortably in Lake Placid, New York, a minimum annual income of
$62,640 for a family, and
$33,200 for a single person is recommended.
What does A.I. say about Lake Placid?
The cost of living in Lake Placid, NY is slightly higher than the national average, but still relatively affordable compared to other cities in the United States. The median home value in Lake Placid is around $200,000 which is roughly 25% higher than the national average. Rent for a one-bedroom apartment can range from $800-$1600 per month and groceries are slightly more expensive as well. Other expenses such as utilities and transportation costs remain comparable with the rest of the country. Although there may be additional costs associated with living in Lake Placid, it is still an affordable option for many people looking for a recreational getaway or peaceful retreat.