Massachusetts vs New York — Cost of Living, Taxes & Income Reality
Data: 2026-Q2 · BLS · HUD · KFFQuick comparison
| Metric | Massachusetts | New York |
|---|---|---|
| Cost of Living Index | 150 | 139 ✓ |
| Median Household Income | $104,828 ✓ | $85,820 |
| Median Rent | $2,833/mo | $2,800/mo ✓ |
| State Income Tax | 9.00% | 6.85% ✓ |
Tax reality
On a $70,000 salary, you keep about $1,505 more per year in New York. That works out to roughly $125/month in additional take-home.
Housing reality
Massachusetts
1BR $2,476 – $2,476/mo
New York
1BR $2,655 – $2,655/mo
Major cities compared
Massachusetts
New York
Purchasing power
Your $70,000 in Boston feels like approximately $72,873 in New York City, once housing and taxes are accounted for.
Who benefits from each
- Remote workers and high earners who want to keep more of their paycheck lean toward New York for its lower tax burden.
- Anyone prioritizing a lower overall cost of living will find New York stretches a paycheck further.
- Workers chasing higher nominal salaries may prefer Massachusetts, where median household income is higher.
Massachusetts vs New York — FAQ
Is it cheaper to live in Massachusetts or New York?
By cost of living index, New York is the cheaper of the two (Massachusetts: 150, New York: 139; national average = 100). Source: C2ER Cost of Living Index.
Which state has lower income taxes, Massachusetts or New York?
New York leaves more in your pocket. On a $70,000 salary, you keep about $1,505 more per year in New York. Source: Tax Foundation 2025, IRS 2025.
What is the median income difference between Massachusetts and New York?
Massachusetts has the higher median household income (Massachusetts: $104,828, New York: $85,820). Source: Census ACS 2024.
Should I move from Massachusetts to New York?
It depends on your priorities. New York offers a lower cost of living, while Massachusetts has higher median incomes. Weigh taxes, housing, and career options together. This is a picture, not a verdict.