Cost of Living in Lake Placid, NY

D-
17%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
36%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Lake Placid New York National
Cost of living117117100
Goods & Services108108100
Groceries105102100
Health care106103100
Housing136145100
Transportation107105100
Utilities121100100
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Cost Of Living Quick Facts

  • The cost of living in Lake Placid is equal to the New York average
  • The cost of living in Lake Placid is 17% higher than the national average
  • Lake Placid housing is 36% higher than the national average
  • New York general sales tax is 22% lower than the national average
  • New York state income tax is 54% higher than the national average

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Compare Lake Placid, NY Cost of Living

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$62,614$5,218$1,461$1,879
      Renters$29,583$2,465$690$888

      New York Sales Tax

      State General Sales Tax With Max Surtax
      New York 4% 8.875%

      New York Income Tax

      State Income Tax (Low) Income Tax (High)
      New York 4% 10.9%

      Goods & Services

      Item Lake Placid National avg. Difference
      Haircut $26.98$24.2611.2%
      Beauty Salon $46.44$45.561.9%
      Toothpaste $3.73$3.700.8%
      Shampoo $1.23$1.283.9%
      Movie $11.94$12.131.6%
      Bowling $15.67$18.0013.0%

      Groceries

      Item Lake Placid National avg. Difference
      Ground Beef $5.76$5.841.4%
      Fried Chicken $1.72$1.579.6%
      Milk $4.82$4.673.1%
      Potatoes $4.97$4.930.7%
      Pizza $12.05$12.090.3%
      Beer $10.01$10.413.9%

      Health Care

      Item Lake Placid National avg. Difference
      Optometrist $141.67$125.6812.7%
      Doctor $152.78$135.7812.5%
      Dentist $130.83$113.2915.5%
      Ibuprofen $10.78$10.651.2%
      Lipitor $371.02$468.6020.8%

      Housing

      Item Lake Placid National avg. Difference
      Home Price $273,500.00$184,700.0048.1%
      Avg. Mortgage Payment $3,072.44$2,346.6930.9%
      Apartment Rent $1,020.00$949.007.5%

      Transportation

      Item Lake Placid National avg. Difference
      Gasoline $3.59$3.463.8%
      Tire Balancing $68.60$59.9214.5%

      Utilities

      Item Lake Placid National avg. Difference
      All Electricity $262.67$193.9935.4%
      Phone $186.03$192.253.2%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Paul Smiths, NY6141098.7%
      Saranac Lake, NY5,5481011.5%
      Wilmington, NY77211110.9%
      Lake Placid, NY2,22911716.9%

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      City Population Cost of Living Index National Avg.
      Seneca, MO2,2298317.5%
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      Mangonia Park, FL2,228973.0%
      Sainte-Cécile-de-Milton, QC2,228n/a 
      Lake Placid, NY2,22911716.9%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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