Quote:
Originally Posted by 10023
My point still stands. The average apartment in Manhattan costs over $1 million, which makes it seem like a city of fabulously wealthy people until you realize that overall, urban New Yorkers make less money than most places despite the astronomically high cost of living.
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Your point does not stand in this discussion... as you're shifting the topic now. This thread is not about "cost of living". It's about "per capita personal income"... with that somewhat confusing "median family income" masquerading as "median household income" list adding another facet to the discussion.
"Urban New York" is not coterminus with the Manhattan and its $1 million dollar "apartments". There is a wide variety of living options throughout the 5 boroughs and beyond. It is true that high costs for many basic necessities eat up a good portion of a New Yorker's paycheck... but most of them also go without some of the expensive "mandatory luxuries" the rest of the country enjoys... like automobile ownership, automobile maintenance and repairs, gasoline and automobile insurance.
And since you seem to be focusing solely on Manhattan... Manhattan's personal per capita income was over $93k in 2005. That's $18k more than 2nd place Marin County, CA... $45k more than Lake County, IL... and $54k (more than twice) the per capita median income of Cook County, IL. So while Manhattanites have a cost of living twice that of just about every other place in the country... they're also making twice that of just about every place in the country. Most people realize that the other 4 boroughs make MUCH LESS... but they also don't have median $1 million "apartments".
Find all the info you need here:
http://www.bea.gov/regional/reis/
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