Lake Placid, FL, offers a cost of living that is generally lower than the nationwide average. The overall cost of living index in Lake Placid stands at 90, which is 10% below the national average of 100. Housing costs in Lake Placid are notably lower, with an index of 85, while groceries and utilities are slightly above the national average at 92 and 95, respectively. This balanced distribution makes Lake Placid an attractive option for those seeking a more affordable lifestyle.
The cost of living in Lake Placid, FL, presents a mix of affordability and slight increases in certain areas. Housing costs are notably lower, with an index of 85 compared to the nationwide average of 100. This means residents can expect to pay 15% less for housing than the average American. Groceries, another essential expense, are also slightly below the national average, with an index of 92. This indicates a 8% savings on groceries.
Utilities in Lake Placid are close to the national average, with an index of 95, meaning a 5% increase. Transportation costs are slightly higher, at 97, which is a 3% increase. Healthcare costs are at 90, reflecting a 10% savings. Miscellaneous expenses, which include items like clothing and entertainment, are at 88, showing a 12% savings. Overall, Lake Placid offers a more affordable living experience in several key areas.
