Median rent is 35% lower in New York ($1,779/mo vs $2,742/mo). Buying is cheaper in New York, where the median home runs $751,700 versus $1,040,500. Households earn more in Cambridge ($126,469 vs $79,713 a year). Taken together, Cambridge is the more affordable choice with a cost index of 112.2 against 113.0 — about 1% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Cambridge, MA.
Quick verdict
Cambridge is 1% cheaper overall
Cost index: 112.2 in Cambridge vs 113.0 in New York (US average = 100)
City A
Cambridge, MA
City B
New York, NY
How much would you need to earn in New York, NY to maintain your standard of living from Cambridge, MA?
Equivalent salary in New York, NY
$75,535
You'd need $535 more (1% higher).
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Cambridge
Massachusetts
New York
New York
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in New York — median rent of $1,779/mo versus $2,742/mo in Cambridge, a 35% difference. Home buyers face a steeper market in Cambridge: the median home is $1,040,500 versus $751,700 in New York — 28% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Massachusetts's top income tax rate is 9.00% versus 10.90% in New York, so Cambridge is more tax-friendly for high earners. Sales tax is 6.25% in Massachusetts and 4.00% in New York; New York has the lower rate (local add-ons may apply in both).
Cambridge
Income tax: 9.00%
Sales tax: 6.25%
New York
Income tax: 10.90%
Sales tax: 4.00%
Air quality data is available for New York (avg AQI 61.0) but not yet for Cambridge.
Pick Cambridge if you prioritize higher median household income ($126,469/yr).
Pick New York if you prioritize cheaper rent ($1,779/mo median).
Pick Cambridge if you prioritize lower state income tax (9.00%).
Is Cambridge cheaper than New York?
Cambridge is cheaper overall, with a cost of living index of 112.2 versus 113.0 (US average = 100). That means prices run about 1% lower in Cambridge.
How much is rent in Cambridge vs New York?
Median rent is $2,742/mo in Cambridge, MA and $1,779/mo in New York, NY. New York, NY has the lower rent by about 35%.
Which has higher salaries — Cambridge or New York?
Median household income is $126,469 in Cambridge, MA and $79,713 in New York, NY. Cambridge, MA has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Cambridge or New York?
Massachusetts's top income tax rate is 9.00% and New York's is 10.90%. Cambridge, MA has the lower rate.
What salary do I need in New York to match my Cambridge income?
To maintain the same purchasing power, a salary of $100,000 in Cambridge, MA is equivalent to roughly $100,713 in New York, NY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology