Cost of Living in Greenwood Lake, NY

With a cost of living index of 112, Greenwood Lake, NY is somewhat more expensive than average. Living here is 12% more expensive than the national average and in line with the New York state average. Greenwood Lake is a small community of 3,022 residents.

Housing costs are the biggest factor in Greenwood Lake's cost of living. The median monthly rent is $1,584 (20% above the US median of $1,319), and the median home value sits at $309,600 (2% above the national median of $304,900). At current prices, the median home costs roughly 3.9x the median household income — a moderately affordable ratio by today's standards.

The median household income in Greenwood Lake is $80,240, which is 7% higher than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Greenwood Lake. The area sees an average annual temperature of 50.1°F, with summers averaging 70°F and winters around 30°F. Annual rainfall totals 40.9 inches spread over roughly 150 days.

Everyday prices in the Kiryas Joel-Poughkeepsie-Newburgh, NY (Metropolitan Statistical Area) metro area tend to run above the national average. Out of 6 common grocery and utility items tracked by the Bureau of Labor Statistics, 6 are priced higher than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.