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What You Should Know About The Cost Of Living On Long Island

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People

What You Should Know About The Cost Of Living On Long Island

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Long Island has a big reputation for being expensive.  From the incredible beaches where many vacations to the moment it gets warm, to the walkable neighborhoods and brilliant live concerts, this area is a hotspot for home shoppers.  Are the rumors about how expensive it is true?  Or is it a mistake in perception?

Here’s what you should know before house hunting on Long Island.

It's Cheaper than NYC

If you're looking to get close to the big apple while saving some money, Long Island is where it's at.  Not only is this area far more affordable, but it's also more spread out, with better traffic and less pollution.  Most Long Island is walkable, with safe neighborhoods with residents that watch out for one another.  Although Long Island is expensive in its own right, it's nowhere near as pricey as NYC.

Higher Than the National Average

Unfortunately, Long Island is far more expensive than the national average.  Compared to the average American city, this area is 127% more expensive.  The average family of four would need an income of over $140,000 to live comfortably in Long Island, something that's not attainable for most people, especially since the average American doesn't make more than $36,000 a year. So if you want to live here: you have to have the income to back it up.

Fortunately, that’s not for the entire area.

Some Areas Are Far Pricier Than Others

There are some pockets of Long Island where housing and apartments are more affordable.  Unfortunately, these are often not well taken care of by the city and are known for higher crime rates mixed with more cases of police brutality.  These areas are more affordable, but they're not what most people think of when considering Long Island houses for sale.

Living With Roommates Is Common

The high cost of living in Long Island has made one thing clear: roommates are a real option.  In NYC and the surrounding areas like Long Island, almost 40% of adults live with a roommate that they're not related to and not in a relationship with.

Although living alone used to be a life marker to show that someone was mature and ready to take on the world, this marker has been pushed back so that people can afford to live without scrounging for money. Unfortunately, the housing market is just getting more expensive, so that these living situations may become real for an even higher percentage of residents in the area.

The Perks Like Education and Entertainment

Although the price of living can be extraordinarily high: they're more acceptable when you remember the perks that come with it.  Not only are you close to NYC, an international hub of entertainment and technology: you're also close to some of the best schools in the country and some of the best concerts and live media you can go to.  The price of living is a lot, but it doesn't feel so heavy when weighed against all of the positives.

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What You Should Know About The Cost Of Living On Long Island

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