Honesdale, PA vs Lakemont, PA

Lakemont is moderately more affordable than Honesdale, with a 6.3% lower cost of living index. Honesdale scores 81 compared to 77 for Lakemont, where the US average is 100. This difference means residents of Honesdale can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Honesdale is $1,094/month compared to $1,103/month in Lakemont — a 1% difference. Interestingly, home values tell a different story: while Honesdale has cheaper rent, Lakemont actually has lower median home values ($147,300 vs $180,600).

Median household income in Honesdale is $38,469 compared to $49,036 in Lakemont (-21.5%). Lakemont offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Honesdale spend roughly 34.1% of their income on rent, more than the 27% in Lakemont. The Lakemont ratio exceeds the commonly recommended 30% threshold, which can put pressure on household budgets.