City Life Costs Americans About $9K More A Year Than The Suburbs
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On average, it costs American families $9,073 more per year to live in cities than it does to live in the suburbs, according to new research from Zillow and Care.com.
The cost of living analysis said property taxes, mortgage payments and child care are the three common living expenses that make the difference. On the national level, the report said families living in cities spend about $43K a year on housing and child care alone, while in the suburbs those costs shrink to an average of $34K.
These costs vary in affordability depending on the city. In NYC, Chicago and Dallas it often costs up to $71K more a year to live in the city. But in Philadelphia and Baltimore, the city isn't cheaper — the report said it could cost up to $14K more annually to live in the suburbs.
CORRECTION, MARCH 6, 5:08 P.M. ET: A previous version of this story did not properly state that it is cheaper to live in the suburbs of Philadelphia and Baltimore. The story has been updated.