Lake Carmel, NY Cost Of Living
Cost Of Living In Lake Carmel, NY Summary
Cost of living in Lake Carmel research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Carmel is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New York, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lake Carmel is 125, with 100 being the average.
The cost of living index in Lake Carmel is 1.2x higher than the national average.
Lake Carmel ranks as the #134 cheapest in New York out of 341.
Lake Carmel ranks as the #4,715 cheapest out of 6,489 in the US.
The median home value in Lake Carmel is $451,322.
The median income in Lake Carmel is $121,402.
Table Of Contents
Lake Carmel's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Carmel, NY?
According to the most recent data on the cost of living, Lake Carmel has an overall cost of living index of 125, which is 1.2x higher than the national index of 100.
Compared to New York, Lake Carmel has a cost of living index that's 1.1x higher than New York's index of 119.
The standard of living in Lake Carmel ranks as #134 most affordable out of the 341 places we measured in New York. By definition, that implies Lake Carmel ranks as the #207 most expensive place in the Empire State.
For more reading on life in Lake Carmel, check out:
In New York
In America
Lake Carmel Cost Of Living Vs. New York
Six factors go into calculating the cost of living index in Lake Carmel. Here is how it fairs on each of the criteria:
The Services index in Lake Carmel is 113.
The Groceries index in Lake Carmel is 104.
The Health index in Lake Carmel is 111.
The Housing index in Lake Carmel is 161.
The Transportation index in Lake Carmel is 101.
The Utilities index in Lake Carmel is 129.
| Living Expense | Lake Carmel | New York | National Average | |
|---|---|---|---|---|
| Overall | 125 | 119 | 100 | |
| Services | 113 | 110 | 100 | |
| Groceries | 104 | 103 | 100 | |
| Health | 111 | 101 | 100 | |
| Housing | 161 | 145 | 100 | |
| Transportation | 101 | 105 | 100 | |
| Utilities | 129 | 99 | 100 | |
Lake Carmel, NY Housing Cost Breakdown
Housing swings affordability the most between places in New York, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Lake Carmel is $451,322.
The Median Rent in Lake Carmel is $1,479.
The Median Income in Lake Carmel is $121,402.
The Home Value To Income in Lake Carmel is 3.7x.
The Rent To Monthly Income in Lake Carmel is 0.15x.
| Statistic | Lake Carmel | New York | United States |
|---|---|---|---|
| Median Home Value | $451,322 | $508,764 | $303,400 |
| Median Rent | $1,479 | $1,576 | $1,348 |
| Median Income | $121,402 | $84,578 | $78,538 |
| Home Value To Income | 3.7x | 6.0x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.22x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Carmel, NY Costs By Category
Detailed Lake Carmel Services Costs Vs. New York
| Item | Lake Carmel | New York |
|---|---|---|
| Shampoo | $1.5 | $1.28 |
| Movie | $13.76 | $12.13 |
| Bowling | $19.63 | $18 |
| Haircut | $32.33 | $24.26 |
| Beauty Salon | $48.56 | $45.56 |
Detailed Lake Carmel Groceries Costs Vs. New York
| Item | Lake Carmel | New York |
|---|---|---|
| Ground Beef | $6.34 | $5.84 |
| Fried Chicken | $1.61 | $1.57 |
| Milk | $4.73 | $4.67 |
| Potatoes | $5.03 | $4.93 |
| Pizza | $10.07 | $12.09 |
| Beer | $10.62 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Lake Carmel Health Costs Vs. New York
| Item | Lake Carmel | New York |
|---|---|---|
| Optometrist | $140.1 | $125.68 |
| Doctor | $143.23 | $135.78 |
| Dentist | $123.0 | $113.29 |
Detailed Lake Carmel Transportation Costs Vs. New York
| Item | Lake Carmel | New York |
|---|---|---|
| Gasoline | $3.33 | $3.46 |
| Tire Balancing | $57.68 | $59.92 |
Detailed Lake Carmel Utilities Costs Vs. New York
| Item | Lake Carmel | New York |
|---|---|---|
| All Electricity | $281.67 | $193.99 |
| Phone | $185.16 | $192.25 |
Lake Carmel SnackAbility
/10
Cost Of Living In Cities Around Lake Carmel
The cost of living varies in the cities and towns around Lake Carmel. Here's a quick look at the cost of living in the most populous nearby places:
Peekskill, NY has a cost of living index of 127, 1.0x Lake Carmel.
Jefferson Valley-Yorktown, NY has a cost of living index of 146, 1.2x Lake Carmel.
Bethel, CT has a cost of living index of 125, 1.0x Lake Carmel.
| City | Population | Cost Of Living | Vs. Lake Carmel |
|---|---|---|---|
| Peekskill, NY | 25,484 | 127 | 1.0x |
| Jefferson Valley-Yorktown, NY | 14,195 | 146 | 1.2x |
| Bethel, CT | 11,606 | 125 | 1.0x |
| Myers Corner, NY | 10,786 | 124 | 1.0x |
| Mount Kisco, NY | 10,782 | 142 | 1.1x |
| Mahopac, NY | 9,171 | 134 | 1.1x |
| New Windsor, NY | 8,427 | 120 | 1.0x |
| Wappingers Falls, NY | 5,694 | 119 | 1.0x |
| Lake Mohegan, NY | 5,566 | 142 | 1.1x |
