Cost of Living in Armonk

Armonk, is a hamlet located within the town of North Castle in Westchester County and is known for its affluent community and high cost of living compared to the national average. Housing prices in Armonk are significantly higher than many other parts of the country. As of my knowledge cutoff in 2023, the median home value for a 3-bedroom home in Armonk can range from approximately $700,000 to over $1 million, depending on the location, size, and condition of the property. For a 4-bedroom home, prices are typically higher, often ranging from around $900,000 to well over $1.5 million. These prices reflect the desirability of the area, the quality of the local schools, and the proximity to New York City.

Apartment rentals in Armonk also reflect the high cost of living. A 1-bedroom apartment can cost anywhere from $2,000 to $3,000 per month, while a 2-bedroom apartment can range from $2,500 to $4,000 per month. Apartment purchases are less common in Armonk, as the area is predominantly composed of single-family homes, but condos and townhouses that do go on sale can range significantly in price, often starting at around $500,000 and going up to over $1 million for luxury units.

Dining out in Armonk can cater to a range of budgets, but on average, restaurant prices are on the higher end. A meal at an inexpensive restaurant might cost around $20 to $30 per person, while a three-course meal at a mid-range restaurant can range from $50 to $100 per person, excluding drinks and gratuities. Upscale dining experiences will, of course, be more expensive.

Utilities, including electricity, heating, cooling, water, and garbage, for a standard 85m² apartment in Armonk, can range from $200 to $300 per month, depending on usage and the time of year. Internet services can add an additional $60 to $100 per month to the utility costs.

Private school tuition in Armonk varies widely based on the institution and the level of education. Preschool (or Pre-K) can range from $10,000 to $20,000 per year. Elementary schools can cost between $20,000 and $30,000 per year, while middle schools and high schools can range from $25,000 to over $40,000 per year. These costs reflect the competitive and high-quality education offered by private institutions in the area.