• Greater NYC Area Ranks First on Forbes’ Most Overpriced in Nation List

  • MARCH 07, 2014 | ECONOMIC DEVELOPMENT, REAL ESTATE, YOUNG PROFESSIONALS

  • But, With World-Class Amenities, Westchester County Out-Ranks Other Places to Work. Live. Play!

  • New York City and its suburban communities in Westchester and New Jersey have tied with Honolulu to earn the top spot on Forbes Magazine’s list of “most overpriced cities to live.” Their criteria included housing affordability (the percentage of affordable homes available to people earning the median income) and ...


    ...the cost of living (the cost of food, utilities, gas, transportation, and healthcare, among other factors). Rounding out the top five were the Southern Connecticut cities of Bridgeport, Stamford, and Norwalk; Boston, MA; San Jose, CA; and Long Island, NY.

    But in our view, you get what you pay for.

    “We may spend a little more to live here, but the advantages are tremendous: business-friendly climate, great schools, proximity to top-notch transportation, and educated workforce,” notes Marissa Brett, Westchester County Association’s director of economic development. “And through our BLUEPRINT for Westchester, we are working to grow jobs, adding further economic vitality to the region.”

    California topped the list as the state with the highest number of expensive cities, and economists there cite high salaries and high demand as contributing factors. What creates the demand? “Awesome weather,” cites one real estate executive.

    Yes, we’ve had a pretty frigid winter here in New York—but in Westchester County, we have an array of parks and nature preserves to enjoy seasonal recreation and natural beauty. And Westchester’s cultural offerings—including world-class art, music, theater, dance, and sports—are a year-round constant.

    “Plus, businesses have access to affordable office space; a diverse and highly educated talent pool; three rail lines, an airport, multiple highways and an efficient bus system; and more affordable housing and after-work recreation for young professionals,” Brett points out. “Early-stage companies can take advantage of the BLUEPRINT Accelerator Network to begin and grow their businesses in Westchester.

    “We’ve made great progress in driving the economic vitality of the region,” added Brett. “By creating jobs and generating tax revenue for the residents of Westchester County, we’re making Westchester the place to be.” 

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