Saranac Lake, NY, has a higher cost of living compared to the nationwide average. The overall cost of living index in Saranac Lake stands at 105, which is 5% higher than the national average of 100. This increase is largely driven by housing costs, which are 50% above the national average.
Despite this, other categories like groceries, utilities, transportation, healthcare, and miscellaneous expenses remain close to or slightly below the national average. This suggests that while housing is more expensive, other living expenses in Saranac Lake are relatively comparable to the rest of the country.
Saranac Lake, NY, has a higher cost of living compared to the nationwide average, which is set at 100. Housing costs in Saranac Lake stand at 150, indicating that residents pay 50% more than the national average. This significant increase in housing costs can greatly impact the overall budget for those considering a move to the area.
Other expenses in Saranac Lake also reflect higher costs. For instance, groceries cost 110, which is 10% more than the average. Utilities, however, are slightly below the national average, with a cost index of 90. This means residents spend 10% less on utilities compared to the average. Transportation costs are close to the average, at 95, which is only 5% less. Healthcare costs are slightly higher, at 105, which is 5% more than the national average. Miscellaneous expenses match the national average at 100. Overall, while some costs are lower, the higher housing and grocery prices make Saranac Lake more expensive to live in compared to the national average.
