Cost of Living in Lake Carmel, NY
Population 8,090 · New York · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Lake Carmel a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $358,000. An unemployment rate of 2.8% points to a labor market well on the tight side of the national distribution.
Located 25 miles north of Stamford, Lake Carmel falls within that metro's commuting orbit. Median home values run roughly 42% lower than Stamford's $614,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Lake Carmel
The median home value in Lake Carmel is $357,500 — 17% above the national median of $305,000. Median rent runs $1,479/month, 13% higher than the national median of $1,314/month. The median household income of $121,402/year is 63% higher than the US median of $74,580. The local unemployment rate is 2.8%, below the national average of 4.8%. New York's top state income tax rate is 10.9% and the combined sales tax is 8.5%. The climate averages highs of 59.8°F and lows of 39.5°F. Overall, Lake Carmel has a cost of living index of 115 versus the US average of 100, meaning it is 15% more expensive.
Lake Carmel has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 36 | 39 | 47 | 59 | 69 | 78 | 82 | 80 | 74 | 62 | 51 | 41 |
| Low °F | 18 | 20 | 27 | 37 | 46 | 56 | 62 | 60 | 52 | 41 | 31 | 24 |
| Precip" | 3.06 | 2.69 | 3.89 | 3.74 | 3.78 | 4.48 | 4.46 | 4.62 | 4.81 | 4.48 | 3.78 | 4.24 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Lake Carmel, NY?
Lake Carmel has a cost index of 115 (100 = national average). It is 15% above the national average.
What is average rent in Lake Carmel, NY?
The median gross rent in Lake Carmel is $1,479 per month based on 2023 Census data.
What is the average home price in Lake Carmel?
The median home value in Lake Carmel is $357,500 according to 2023 Census ACS data.
What is the median income in Lake Carmel?
The median household income in Lake Carmel is $121,402 per year (2023 ACS 5-year estimates).
What is the sales tax in Lake Carmel, NY?
The combined state and local sales tax rate in Lake Carmel is 8.5%. The New York state income tax top rate is 10.9%.
Is Lake Carmel, NY affordable?
Lake Carmel is above average in cost of living, with an index of 115 — about 15% higher than the national average.
What is the weather like in Lake Carmel?
Lake Carmel has average high temperatures of 59.8°F and average lows of 39.5°F. Annual precipitation is 48". Data from NOAA 1991–2020 Climate Normals.
Lake Carmel at a Glance
- Population
- 8,090
- Median Income
- $121,402
- Home Value
- $357,500
- Median Rent
- $1,479/mo
- Unemployment
- 2.8%
- Avg High Temp
- 59.8°F
- Sales Tax
- 8.5%
Nearby Cities
Explore county-level cost of living data
New York Rankings
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