New York vs Springfield: Cost of Living Comparison
How does the cost of living in New York, New York compare to Springfield, Massachusetts? Below is a side-by-side breakdown of housing costs, income, wages, and taxes using official government data.
Summary: Springfield is the more affordable city overall. Housing costs are 269% higher in New York compared to Springfield, while rent is 64% higher. State income tax is 10.9% in NY vs 9% in MA.
| Metric | New York, NY | Springfield, MA | Diff |
|---|---|---|---|
| Housing | |||
| Median Home Value | $732,100 | $198,500 | +268.8% |
| Median Monthly Rent | $1,714 | $1,047 | +63.7% |
| Income | |||
| Median Household Income | $76,607 | $47,677 | +60.7% |
| Per Capita Income | $48,066 | $25,669 | +87.3% |
| Taxes | |||
| State Income Tax Rate | 10.9% | 9.0% | +21.1% |
| Combined Sales Tax | 8.5% | 6.3% | +36.3% |
| Demographics | |||
| Population | 8,622,467 | 155,305 | +5452.0% |
Source: U.S. Census Bureau ACS 5-Year Estimates (2022), Freddie Mac Primary Mortgage Market Survey. State/local tax rates from Tax Foundation (2024).
Rent vs. Buy Calculator — New York
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Rent vs. Buy Calculator — Springfield
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Key Takeaways
- Housing: The median home in New York costs $732,100 compared to $198,500 in Springfield — a 269% premium.
- Rent: Median rent is $1,714/mo in New York vs $1,047/mo in Springfield.
- Income: Median household income is $76,607 in New York and $47,677 in Springfield.
- Taxes: State income tax is 10.9% in New York vs 9% in Massachusetts.
Methodology
This comparison uses data from the U.S. Census Bureau American Community Survey 5-Year Estimates (2022) for median household income, median home value, median gross rent, per capita income, and population. State and local tax rates are sourced from the Tax Foundation. Mortgage rates are from the Freddie Mac Primary Mortgage Market Survey (updated weekly).