Cost of Living in Lorenz Park, NY

With a cost of living index of 83, Lorenz Park, NY is a very affordable place to live. Living here is 17% cheaper than the national average and 28% below the New York state average of 111. Lorenz Park is a small community of 1,947 residents.

Housing costs are the biggest factor in Lorenz Park's cost of living. The median monthly rent is $1,012 (23% below the US median of $1,319), and the median home value sits at $198,700 (35% below the national median of $304,900). At current prices, the median home costs roughly 2.4x the median household income — well within traditional affordability guidelines.

The median household income in Lorenz Park is $82,672, which is 10% higher than the national median of $75,149. Residents spend roughly 15% 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 Lorenz Park. The area sees an average annual temperature of 46.1°F, with summers averaging 67°F and winters around 25°F. Annual rainfall totals 44.2 inches spread over roughly 161 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.