Cost of Living in Skaneateles, NY

With a cost of living index of 110, Skaneateles, NY is somewhat more expensive than average. Living here is 10% more expensive than the national average and in line with the New York state average. Skaneateles is a small community of 2,533 residents.

Housing costs are the biggest factor in Skaneateles's cost of living. The median monthly rent is $907 (31% below the US median of $1,319), and the median home value sits at $595,100 (95% above the national median of $304,900). At current prices, the median home costs roughly 5.2x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Skaneateles is $114,355, which is 52% higher than the national median of $75,149. Residents spend roughly 10% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Syracuse, 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.