The cost of living in NYC is so high (and for far smaller and less acceptable places than in most suburbs) that you need to have a great motivation to live there. Either proximity to your job demands it (and commuting is too awful) or you just intend to see sites, shop, party, drink, and almost every day, or do things you can only do in NYC. This requires a HUGE amount of money. So in reality - how often MUST you have access to these things - and do you want to live as you must, to afford them? We live less than 2 hours aways, and go to NYC at least once a month or more. BECAUSE we live in a very good place, we can afford to go in whenever. We would not live there ourselves if someone GAVE us a place - but there would be plenty of suckers we could sell it rent it to.