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Millions of proud New Yorkers would rather die than relocate to suburbia, but others flee the five boroughs for a more affordable life.
However, a new study reveals there’s actually little price difference between life in the Big Apple and the top suburbs in neighboring New Jersey.
GOBankingRates analyzed the annual cost of living in New York City and the cost of living in the three “best” suburbs in the tri-state area, as based on livability scores awarded by AreaVibes.
AreaVibes considers factors such as crime rates, school rankings and access to healthcare and public transport in its overall livability scores.
Three New Jersey burbs — Fort Lee, Ridgewood, and Highland Park — had the highest livability scores, beating out ritzy Westchester neighborhoods such as Bronxville and Scarsdale, as well as the cashed-up Connecticut towns of Greenwich, Westport and Darien.
GOBankingRates found that the annual cost of living in New York City was a hefty $91,414.
Meanwhile, the cost of living in Fort Lee was not much higher, at $92,279.
However, the livability score in Fort Lee (88 out of 100) far surpassed that of the Big Apple (75 out of 100).
Meanwhile, both Ridgewood and Highland Park also received livability scores of 88, but the data revealed they have significantly varied living costs.
It proves, unsurprisingly, that suburbs can be more or less expensive than the city. However, it also shows that there are cheaper areas that boast better livability scores than pricier nabes.
The annual cost of living in Ridgewood is $106,916, in large part due to its expensive real estate.
The picturesque Bergen County town, located 20 miles northwest of Midtown Manhattan, boasts high-performing public schools and plenty of green spaces.
Highland Park, on the other hand, has a much lower annual cost of living, at $67,129, but still has an outstanding living score.
City slickers looking to relocate to the suburbs to save cash could be drawn to this Middlesex County neighborhood, which is walkable, close to Rutgers University and boasts easy access to an array of amenities, including top doctors.
