Cost of Living in Lakeville, NY

With a cost of living index of 86, Lakeville, NY is a very affordable place to live. Living here is 14% cheaper than the national average and 25% below the New York state average of 111. Lakeville is a small community of 511 residents.

The median household income in Lakeville is $90,716, which is 21% higher than the national median of $75,149. Residents spend roughly 12% 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 Lakeville. The area sees an average annual temperature of 49.5°F, with summers averaging 70°F and winters around 29°F. Annual rainfall totals 29 inches spread over roughly 156 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Rochester, NY (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower 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.