Living in Lake Placid, New York
Cost of living, income, home prices, rent and demographics of Lake Placid · Census data 2020–2024
Lake Placid has 2,306 residents with a median age of 42. The median household income is $41,612 (52% lower than the New York median), the median home value is $400,000, the median rent is $1,102/month.
Lake Placid at a glance
- Population
- 2,306
- Median age
- 42State: 39.8
- Median household income
- $41,612State: $85,974
- Median home value
- $400,000State: $423,800
- Median rent
- $1,102/moState: $1,621
- Homeowners
- 46.2%
- Bachelor's degree or higher
- 42.8%
- Average commute
- 18 min
Is Lake Placid a good place to live?
Pros: Home values 6% lower than the state median; an average commute of 18 minutes; unemployment of 1.1%; a poverty rate of 9%.
Cons: Median household income 52% lower than the New York median.
The weather is best in June to September.
Cost of living in Lake Placid
Housing is the biggest part of the cost of living. In Lake Placid the median home value is $400,000, 20% higher than the U.S. median. Renters pay a median of $1,102 per month, which is 40.1% of household income. Homeowners with a mortgage pay $1,988 a month in housing costs.
Lake Placid median household income
The median household income in Lake Placid is $41,612 and the income per person is $46,841. 9% of residents live below the poverty line (New York: 14%).
Housing in Lake Placid: homes for sale and rent
- Housing units
- 2,161
- Owner-occupied
- 46.2%
- Renter-occupied
- 53.8%
- Vacant
- 31.1%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 1.54
31.1% of homes are vacant most of the year, a sign that Lake Placid has many vacation and second homes.
Lake Placid demographics
- Population
- 2,306
- Median age
- 42
- Under 18
- 13.7%
- 65 and older
- 16.7%
- Households
- 1,488
- Foreign-born
- 10.2%
- Veterans
- 6.1%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Placid ›
Education in Lake Placid
42.8% of adults 25 and older in Lake Placid have a bachelor's degree or higher (New York: 40.2%), and 16.2% have a graduate or professional degree.
Jobs and commute in Lake Placid
- Unemployment rate
- 1.1%State: 6.4%
- Average commute
- 18 minState: 33 min
- Work from home
- 21.3%
- Drive alone
- 50.6%
- Public transit
- 5.1%
- Walk to work
- 11.5%
- Homes with broadband
- 92.9%
Lake Placid vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Placid | 2,306 | $41,612 | $400,000 | $1,102 |
| Saranac Lake | 4,965 | $61,967 | $199,900 | $853 |
| Wilmington | 904 | $90,625 | $307,000 | $1,179 |
| Au Sable Forks | 369 | $52,656 | $130,800 | $792 |
| Elizabethtown | 721 | $64,583 | $188,100 | $741 |
| Tupper Lake | 2,929 | $56,902 | $117,300 | $779 |
| Redford | 340 | $98,958 | $70,500 | — |
| Witherbee | 202 | $42,757 | — | — |
| Mineville | 1,206 | $68,786 | $110,900 | — |
More for people moving to Lake Placid
Lake Placid ZIP code ›Weather and climate ›Living in Lake Placid: FAQ
What is the median household income in Lake Placid, NY?
The median household income in Lake Placid is $41,612, 52% lower than the New York median of $85,974 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lake Placid?
The median home value in Lake Placid is $400,000, compared with $423,800 in New York.
How much is rent in Lake Placid?
The median gross rent in Lake Placid is $1,102 per month, about 40.1% of household income.
Is Lake Placid, NY a good place to live?
Pluses: home values 6% lower than the state median; an average commute of 18 minutes; unemployment of 1.1%; a poverty rate of 9%. Minuses: median household income 52% lower than the New York median.
What is the median age in Lake Placid?
The median age in Lake Placid is 42 years (New York: 39.8).
How long is the commute in Lake Placid?
The average commute to work in Lake Placid is 18 minutes; 21.3% of workers work from home.
What is the unemployment rate in Lake Placid?
The unemployment rate in Lake Placid is 1.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Placid?
42.8% of adults in Lake Placid have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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