New York is ridiculously expensive in ways that people don't think about. Even eating at a McDonald's in Manhattan is more expensive than eating in one in NJ or the suburbs. Not that the tristate area in general is any great bargain either. Property taxes, utilities, auto insurance, homeowners insurance, housing costs, it's all more expensive in NY.

When I was in economic development, I met once with a relocation specialist. I asked her what was the most expensive location in the country. She told me the tristate area. She said that in most locations, once you get 45 minutes to an hour outside of the major city, like Manhattan, the prices of real estate start to drop tremendously. Not in the NY/NJ/CT area. Those are some of the most expensive places, Bergen, Westchester and Fairfield Counties.