Median rent is 5% lower in New York ($1,779/mo vs $1,872/mo). Buying is cheaper in Wakefield, where the median home runs $670,100 versus $751,700. Households earn more in Wakefield ($130,320 vs $79,713 a year).
City A
New York, NY
City B
Wakefield, MA
How much would you need to earn in Wakefield, MA to maintain your standard of living from New York, NY?
A cost-of-living index isn't available for one of these cities yet, so we can't compute an equivalent salary.
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
New York
New York
Wakefield
Massachusetts
👥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
Median rents are similar in both cities: $1,779/mo in New York and $1,872/mo in Wakefield. Median home values are within 11% of each other: $751,700 in New York and $670,100 in Wakefield.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
New York's top income tax rate is 10.90% versus 9.00% in Massachusetts, so Wakefield is more tax-friendly for high earners. Sales tax is 4.00% in New York and 6.25% in Massachusetts; New York has the lower rate (local add-ons may apply in both).
New York
Income tax: 10.90%
Sales tax: 4.00%
Wakefield
Income tax: 9.00%
Sales tax: 6.25%
Air quality data is available for New York (avg AQI 61.0) but not yet for Wakefield.
Pick Wakefield if you prioritize higher median household income ($130,320/yr).
Pick Wakefield if you prioritize lower state income tax (9.00%).
Is New York cheaper than Wakefield?
Cost of living index data is not yet available for one or both cities.
How much is rent in New York vs Wakefield?
Median rent is $1,779/mo in New York, NY and $1,872/mo in Wakefield, MA. New York, NY has the lower rent by about 5%.
Which has higher salaries — New York or Wakefield?
Median household income is $79,713 in New York, NY and $130,320 in Wakefield, MA. Wakefield, 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 — New York or Wakefield?
New York's top income tax rate is 10.90% and Massachusetts's is 9.00%. Wakefield, MA has the lower rate.
What salary do I need in Wakefield to match my New York income?
RPP data needed for salary equivalence calculation is not yet available.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology