I grew up a 15 minute bus ride from downtown Manhattan. Sometimes I still miss being so close to the city. Most of the time I have no regrets about raising my family in Sussex and later Pike County. We are close enough to go to the city for a day trip if we want to but still live in a very nice area. Many of my friends in New York radio tell me this all the time. Now a new report from Zillow shows just how much more expensive it is raise a family in the city. Nationally, city families spend over $43,000.00 on housing and child care. Suburban families spend about $34,500.00. New York, Chicago and Philadelphia have the highest cost difference between city and suburb, about $6,000.00 a month. If you live in the suburbs you will probably have more room in your house or apartment but you will have a more expensive commute. I think living so close to downtown Manhattan was great for me when I was in my 20's. If you are young and that's what you want to do you should. However, when it comes time to raise a family you might be better off moving back to the suburbs, unless you are making big bucks and can afford city life.
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