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These days, finding an affordable place to live in the Lake Placid area can be challenging. Home prices in Lake Placid are now at a median cost of $478,412, lower than the New York average of $610,895.
The average cost of rent is $1,260/mo in Lake Placid, primarily driven by the current value of real estate in the Lake Placid area. In Lake Placid, 39.56% of households rent, and 46.48% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Placid is $6,367 per month. Households that rent pay about 19.79% of their income on rent here. Lake Placid’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Whiteface, NY: equally priced homes
- North Pole, NY: higher priced homes
- Ray Brook, NY: equally priced homes
- Saranac Lake, NY: less expensive homes
- Keene, NY: equally priced homes
- Bloomingdale, NY: less expensive homes
- Franklin Falls, NY: less expensive homes
- Upper Jay, NY: less expensive homes
- Wilmington, NY: less expensive homes
- Keene Valley, NY: equally priced homes
Cities with Similar Populations
- Waldron, AR: less expensive homes
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- Salton City, CA: less expensive homes
- Eagar, AZ: less expensive homes
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