Long Island Shooters Forum banner
1 - 20 of 25 Posts

·
Registered
Joined
·
575 Posts
No surprise here. Second only to the cesspool also known as Washington, DC.

In some spots in this country, it costs parents well into six figures just to eke by.

The amount that a two-parent, two-child family needs just to pay the bills (but not have money left over for savings) ranges from about $50,000 to more than $100,000 depending on where a family lives, according to data released Wednesday by the nonprofit and nonpartisan think tank the Economic Policy Institute.
"This does not mean a middle-class lifestyle," says Elise Gould, a senior economist with EPI. "This is just living, no savings."
The study looked at 618 metro areas and calculated the cost of living in each based on the costs of housing, child care, food, transportation, health care and other necessities (such as school supplies and clothing), as well as taxes.
Perhaps surprisingly, child care is the single most expensive line item for these families: In 500 of the 618 areas that EPI looked at, child care was parents' biggest annual expense, averaging about $12,500 a year nationwide and climbing above $30,000 a year in one city.
Here are the 10 cities where it is most expensive for two parents to raise two children ...
1. Washington, D.C.
A family of four needs $106,493 just to get by in Washington - making this city the most expensive place for parents to raise two children. Child care here is particularly pricey at $31,158 a year on average - the highest in the nation.

2. Nassau-Suffolk, N.Y.
Generations of city dwellers have headed to Long Island to raise their kids, but apparently not to save money. The Nassau-Suffolk County region is the second most expensive place to raise two kids in the U.S., costing families there $103,606. You'll likely spend a lot on rent (a median of $19,356 a year), as well as on taxes ($16,822) and other necessities ($13,881 on average).

3. Westchester County, N.Y.
Like Long Island, this suburban region outside New York City is notably pricey for families - $99,592 on average. The area shares many of the characteristics of Nassau-Suffolk County, including high taxes ($15,589 a year on average).

4. New York City
The Big Apple takes the No. 4 spot on this list - requiring a family of four to make $98,722 just to get by. The good news: City dwellers get a break (not surprisingly) on transportation costs - at least compared with their suburban neighbors in Westchester and Nassau-Suffolk County.

5. Stamford-Norwalk, Conn.
A family of four in the Stamford-Norwalk area needs $97,350 to pay the bills - and gets hit particularly hard by housing costs ($22,290 a year), other necessities ($15,603) and taxes ($15,487).

6. Honolulu
You'll pay - dearly - to live amid the sunshine and sand of Honolulu. It costs a family of four here $94,092 to get by. Food costs ($11,244) are the highest in the country, thanks in large part to extra shipping expense.

7. Poughkeepsie-Newburgh-Middletown, N.Y.
These towns typically aren't known for ultra-posh living, but due in part to high housing costs (which plague many towns near New York City), these municipalities collectively claim the No. 7 spot on the list. It costs a family of four $92,837 to pay the bills in this area.

8. Ithaca, N.Y.
Living in this charming college town (it's home to Cornell University and Ithaca College) won't come cheap - it costs a family of four $92,603 to get by. This high cost is due to high taxes and rents, and may be skewed slightly upward thanks to the costs of child care in New York state (the EPI data used a statewide survey of child-care costs).

9. San Francisco
Despite housing costs that are the highest in the country (a median of $23,472 a year), this city only takes the No. 9 spot, with housing offset partially by child-care costs that are much lower than in much of New York ($10,815).

10. Danbury, Conn.
With high housing and child-care costs, as well as high taxes, it will cost a family of four just over $89,000 to pay the bills in this city.
 

·
Premium Member
Joined
·
4,775 Posts
It's actually pretty disgusting.

I've always said to live comfortably you need at least 300k in the area.
 

·
Zombtac Operator
Joined
·
12,108 Posts
The cost of living in NY is no surprise. Yep it's high. Forget about house prices and especially real estate taxes...I often find it amusing when people from another state come looking and are shocked at "those are the taxes on that tiny house!!!". But to paraphrase Bobby DeNiro, "this is this".

Many people that do live in the area can afford a greater salary tied to the locality of NYC, etc. that offsets those costs, though that too is changing with telecommuting, etc.

Plus people have ties and familiarity. I have family by Dyker Heights Brooklyn and don't get why they pay so much for a connected building with no yard. Heck, you can commute an hour and get 3x the property on LI and more home. But they have businesses and familiarity and love it regardless. It is what it is.
 

·
Runs with scissors
Joined
·
1,754 Posts
I would love to stay here after retirement, but it is not going to happen. We would not be able to afford it. Yes, the laws suck, but we are used to it. This is a beautiful place to live, but the price we have to pay for the privilege is way too high.
 
  • Like
Reactions: Myrcinus

·
Borders, Language, Culture
Joined
·
4,738 Posts
It's actually pretty disgusting.

I've always said to live comfortably you need at least 300k in the area.
That's too high. People always look at what they make, but not what they spend. I see many young people crying poor all the time, but they don't think twice about $30K (& a lot more) weddings, new leased cars every 3 years, going out to dinner 3 to 4x a week, $100+ per month data plans, etc.
 

·
Zombtac Operator
Joined
·
12,108 Posts
That's too high. People always look at what they make, but not what they spend. I see many young people crying poor all the time, but they don't think twice about $30K (& a lot more) weddings, new leased cars every 3 years, going out to dinner 3 to 4x a week, $100+ per month data plans, etc.
True. NY lifestyles tend to be more costly. And choices in real estate greatly impact cost of living....

It's also relative. Years ago I moved to Suffolk from Nassau and got a large wooded property in a great school district and a larger house than my buddy in an "upscale" neighborhood in Nassau, south of merrick road. I can fit his house on my property 10x over and he pays higher property taxes. And my house is larger and only 37-40 minutes away with similar local ameneties (actually we have more steak houses, sushi place, nice restaurants than Pequa). Same can be said for Brooklyn. $1M for a small boring looking attached house with no yard?? Why not move an hour out to LI pay less, get more and commute? Lifestyle choices are also involved and their are degrees to the tristate area in terms of real estate and cost of living.
 
1 - 20 of 25 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top