Cost of Living in Larchmont
Summary: If you are thinking about moving to Larchmont, here is an overview of the cost of living there.
Larchmont, is a relatively affluent suburb located in Westchester County, known for its high quality of life, proximity to New York City, and a strong sense of community. The cost of living in Larchmont is significantly higher than the national average, reflecting the desirability of the area and the wealth of amenities available to residents.
Housing prices in Larchmont are quite steep, with 3 and 4 bedroom homes often commanding prices well above the national average. As of my knowledge cutoff in early 2023, the median home value in Larchmont is around $1.2 million, though prices can vary widely depending on the exact location, size, and condition of the property. For a 3-bedroom home, prices typically range from $700,000 to over $1.5 million, while 4-bedroom homes can range from $900,000 to upwards of $2 million or more.
Apartment rentals in Larchmont also reflect the high cost of living. A 1-bedroom apartment can cost anywhere from $2,000 to $3,000 per month, while larger 2 or 3-bedroom apartments can range from $3,500 to $6,000 per month or more. Apartment purchases are similarly expensive, with prices depending on the location, amenities, and size of the unit. It's not uncommon for condos and co-ops to sell for between $500,000 and $1 million or more.
When it comes to dining out, Larchmont offers a variety of restaurants ranging from casual eateries to upscale dining experiences. A typical meal at a mid-range restaurant can cost between $15 and $30 per person, while a three-course meal at an upscale restaurant can easily exceed $50 per person, not including drinks, tax, and tip.
Utilities in Larchmont, including electricity, heating, cooling, water, and garbage services, can cost around $250 to $400 per month for a standard-sized home, though this can fluctuate based on usage and the time of year.
Private school tuition in Larchmont varies widely depending on the institution and the level of education. Preschool tuition can range from $10,000 to $20,000 per year. Elementary and middle schools can cost between $20,000 and $40,000 per year, while private high schools can range from $30,000 to $50,000 per year or more, depending on the school's prestige and offerings.
| Item | Cost |
|---|---|
| 3-bedroom home purchase | $700,000 - $1.5 million+ |
| 4-bedroom home purchase | $900,000 - $2 million+ |
| 1-bedroom apartment rental | $2,000 - $3,000 per month |
| 2-3 bedroom apartment rental | $3,500 - $6,000 per month |
| Apartment purchase | $500,000 - $1 million+ |
| Mid-range restaurant meal per person | $15 - $30 |
| Upscale restaurant 3-course meal per person | $50+ |
| Monthly utilities | $250 - $400 |
| Private preschool tuition (annual) | $10,000 - $20,000 |
| Private elementary/middle school tuition (annual) | $20,000 - $40,000 |
| Private high school tuition (annual) | $30,000 - $50,000+ |
About the Author
Joshua Wood, LPC is one of the Founders of BlueBurbia and serves as Co-President of Expat Exchange. Prior to Expat Exchange and BlueBurbia, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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