Lake Carmel, NY
Population 8,090 · New York
About Lake Carmel, NY
Lake Carmel is a small town located in New York with a population of 8,090 residents according to the latest US Census Bureau American Community Survey data. The median household income is $121,402 per year, which is 62% above the national median of $75,149. The median age of 42.4 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake Carmel features a median home value of $357,500, which is 46% above the national median of $244,900. This positions Lake Carmel in a moderately priced market relative to the rest of the country. Median monthly rent is $1,479, 27% above the national average of $1,163/month. Of the 3,088 total housing units, 87% are owner-occupied (2,522 units) and 13% are renter-occupied (385 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Carmel shows an unemployment rate of 2.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Carmel have an average one-way commute time of 39 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
39.1% of Lake Carmel residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.5% White, 0.7% Hispanic or Latino, 7.8% Black or African American, and 17.6% Asian residents, with 16.0% of the population being foreign-born.
Cost of Living in Lake Carmel, NY
Compared to national averages, Lake Carmel has a median household income of $121,402 (62% above the national median of $75,149). Home values average $357,500, which is 46% above the national median. Monthly rent at $1,479 is 27% above the US average of $1,163. Within New York, Lake Carmel's income is 25% above the state average of $96,987, and home values are 8% below the state median of $387,181.
Why Live in Lake Carmel, NY?
Lake Carmel offers a strong local economy with a median household income of $121,402, well above the national average, and a strong job market with an unemployment rate of just 2.8%, and a well-educated community where 39.1% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 9.2%, better than the national average.
Lake Carmel has a population of 8,090 with a median age of 42.4 years. Compare Lake Carmel with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Lake Carmel
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Port Jefferson | 8,029 | $143,125 | $628,500 | Compare |
| New Paltz | 8,028 | $59,375 | $397,800 | Compare |
| Johnstown | 8,153 | $62,333 | $147,000 | Compare |
| Center Moriches | 8,155 | $152,500 | $554,500 | Compare |
| Hornell | 8,173 | $46,321 | $86,600 | Compare |
| Garden City Park | 8,176 | $135,208 | $796,600 | Compare |
| Croton-on-Hudson | 8,205 | $185,718 | $702,600 | Compare |
| Congers | 7,923 | $141,413 | $575,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Lake Carmel
What is the population of Lake Carmel, NY?
The population of Lake Carmel, NY is 8,090 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in Lake Carmel?
The median household income in Lake Carmel, NY is $121,402 per year, which is 62% above the national median of $75,149.
What is the median home value in Lake Carmel?
The median home value in Lake Carmel, NY is $357,500, which is 46% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Carmel?
The median monthly rent in Lake Carmel, NY is $1,479, which is 27% above the national average of $1,163/month.
What is the unemployment rate in Lake Carmel?
The unemployment rate in Lake Carmel, NY is 2.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Carmel, NY a good place to live?
Lake Carmel offers above-average incomes, a competitive housing market, and a strong job market. With a population of 8,090 and a median age of 42.4, the city appeals to a broad range of residents.
How educated is Lake Carmel, NY?
39.1% of residents in Lake Carmel aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Lake Carmel?
Key cost-of-living indicators for Lake Carmel, NY: median home value is $357,500 (46% above national), median rent is $1,479/month, and median household income is $121,402. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Carmel?
The poverty rate in Lake Carmel, NY is 9.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Carmel, NY?
Lake Carmel's population is 1.5% White, 0.7% Hispanic or Latino, 7.8% Black or African American, 17.6% Asian, and 5.5% two or more races. 16.0% of residents are foreign-born.