In this article, we will be navigating through New York City’s commuter town life and public transit system supporting this life, while covering the 18 easiest and most affordable commuter towns to NYC in 2023. If you wish to skip our detailed analysis, you can move directly to the 5 Easiest and Affordable Commuter Towns to NYC in 2023.
Commuter Towns
Commuter towns, also commonly referred to as bedroom towns, include the residential area outside a major urban area which is usually not commercially developed. People living in these towns thereby commute to the city for their jobs hence the name, commuter towns.
The concept of commuter towns is not new in the United States. Commuter towns in the country have formed as a result of employees not having access to affordable living in the area of their work. For instance, the high cost of living in California has led to the settlement of people in nearby counties. Commuter towns typically emerge in the suburban or less rural parts close to a main city where the housing is comparatively cheap. Thus, the town needs access to freeways and public transportation to facilitate the commute requirements. Life in these towns is ideal when people are more willing to dedicate extra hours of commute to work since the town offers low crime rates, a good education system, and better housing amenities. You can also view the most affordable cities in the US.
Transit Networks for Commuters Around New York
Ride-hailing services such as Uber Technologies, Inc. (NYSE:UBER) and Lyft, Inc. (NASDAQ:LYFT) and public transportation form important aspects of daily commuter life around New York City. Let’s take a look at each of them.
Uber Technologies, Inc. (NYSE:UBER) and Lyft, Inc. (NASDAQ:LYFT) are leading ride-hailing services in the United States. These rides are available in the suburbs of New York City from where they can be used to reach the main city. The services have emerged to transform the transportation landscape in the city which was culturally identified by yellow cabs. On July 15, CNBC reported that these yellow taxis account for only 10% of the total drivers in New York City as Uber Technologies, Inc. (NYSE:UBER) and Lyft, Inc. (NASDAQ:LYFT) outnumber them in a ratio of 9 to 1. This taxi industry crisis has been powered by the long working hours, huge debt from owning or leasing medallions, and comparatively much lower revenues from the streets due to a saturated transport market.
One of the largest subway systems in the world, MTA Subway, is also a major public commuter network that operates around the boroughs of New York including Brooklyn, Manhattan, Queens, and the Bronx. This subway is known to be one of the busiest rapid transit systems in the world. On March 1, the American Public Transportation Association reported that 1,793,073,000 passengers are carried by the MTA Subway, as of 2022. This subway is run by the Metropolitan Transportation Authority (MTA) which also owns buses and commuter rail cars for public transport in the city and serves 15.3 million people across a 5000-square-mile travel area around New York City, southeastern New York state, Connecticut, and Long Island. In July, MTA reported that the paid average daily subway ridership was recorded at 3.608 million in June 2023, 10% higher than in June, 2022.
New York Subway as a Source of Revenue
Outfront Media Inc. (NYSE:OUT) is a dominant outdoor media company in America that earns a major revenue from its transit displays and billboards in New York City and the surrounding Westchester, Rockland, Fairfield, Nassau, and Suffolk counties. The firm drives the attention of subway commuters in the New York City Subway system through its 50,000 digital screens. Outfront Media Inc. (NYSE:OUT) claims that more than 8 in 10 commuters on the MTA subway station recall the station’s ads while more than half tend to remember the ads displayed on their subway train. 41% of them even scan a QR code displayed on a subway ad. On August 3, Outfront Media Inc. (NYSE:OUT) reported its earnings for the fiscal second quarter of 2023. The company reported earnings per share of $0.20. The company’s revenue for the quarter amounted to $468.8 million, up 4.1% year-over-year. The year-over-year growth in billboard revenue was 5% while transit and other revenues experienced a 1% year-over-year increase. The company also reported that the second quarter results had been impacted by the ongoing strikes in the media industry during the quarter.
Booming NYC Real Estate Stocks
Empire State Realty Trust, Inc. (NYSE:ESRT) manages office and rental spaces in the greater New York metropolitan area and Manhattan. The company’s office stock is located in Manhattan, accessing a mass transit network which makes it attractive. Real estate properties located close to public transit systems tend to hold a higher property value as well. On October 5, the company announced that it has achieved the highest rating on the Global Real Estate Sustainability Benchmark. This has been possible by achieving carbon neutrality in its commercial real estate portfolio in January 2022. The firm is also striving to reduce carbon emissions at the Empire State Building in Manhattan, a popular borough of New York City, located close to many subway stations, bus stops, and train stations.
SL Green Realty Corp. (NYSE:SLG) is another renowned real estate investment trust that invests in commercial properties such as office buildings and shopping centers in New York City. On September 27, SL Green Realty Corp. (NYSE:SLG) reported that it has successfully completed another Manhattan-based property before the said timeline. The One Madison Avenue is located in the Midtown South submarket in Manhattan. The new premier office space due to its strategic position in New York City, has already secured the interest of firms including Chelsea Piers Fitness, International Business Machines Corporation (NYSE:IBM) and Franklin Templeton.
Thus, Empire State Realty Trust, Inc. (NYSE:ESRT) and SL Green Realty Corp. (NYSE:SLG) are well positioned in the real estate market in New York City. You can also take a look at the best REIT stocks under $10.
Let’s view the easiest and affordable commuter towns to NYC in 2023.
Our Methodology
In order to compile a list of the 18 easiest and affordable commuter towns to NYC in 2023, we sourced a list of all suburbs located in the New York City area using the Niche screener. From this list, we screened all those commuter towns that have a shorter commute distance from NYC. We also extended our research to include the places in New Jersey and Connecticut that offer the lowest costs of living since the two are located close to NYC and offer public transit options to the city. Moving on, we found the median home prices from Niche for all the selected commuter towns. Although we have prioritized median home prices for our ranking, we have also included the distance of these commuter towns to NYC as our secondary metric, which we sourced from Distance Between Cities.
Finally, we ranked the easiest and most affordable commuter towns to NYC in 2023 in descending order of their median home prices as a primary metric. Simultaneously, the distance of every town to NYC has been listed.
18 Easiest and Affordable Commuter Towns to NYC in 2023
18. Sayville
Median Home Price: $489,900
Distance from NYC: 48 Miles
Sayville is a suburb of New York City that provides an easy commute to the city, and is 48 miles away from NYC. It is also deemed an affordable living option for commuters as the median home price is $489,900. The commuter rail is a safe and affordable transit option to reach NYC as well.
17. Baldwin
Median Home Price: $449,400
Distance from NYC: 19 Miles
Baldwin is a Long Island-based commuter town to NYC. The LIRR train is a popular option to commute from Baldwin to Manhattan. The median home price in Baldwin is $449,400 which makes it a cheap place to live.
16. Norwalk
Median Home Price: $447,200
Distance from NYC: 42 Miles
The most attractive commuter towns to NYC in 2023 include Norwalk. It is a small town in Connecticut that has several commuter stations for easy travel to NYC, and is 42 miles away from the city. The housing in the town is affordable as well.
15. Bedford Hills
Median Home Price: $444,200
Distance from NYC: 40 Miles
Bedford offers a commute of about an hour to New York City. It is also an affordable living option as evident from its median home price of $444,200. Hence, Bedford Hills is another easy and affordable commuter town to NYC in 2023.
Uber Technologies, Inc. (NYSE:UBER), Lyft, Inc. (NASDAQ:LYFT) and Empire State Realty Trust, Inc. (NYSE:ESRT) are the top service providers for New Yorkers.
14. Jersey City
Median Home Price: $437,200
Distance from NYC: 4 Miles
Another attractive commuter town in New Jersey that provides a shorter commute to Manhattan is Jersey City. The PATH train and ferry are common options to commute to NYC. Thus, the city is an easy and affordable commuter town to NYC in 2023.
13. Carlstadt
Median Home Price: $428,800
Distance from NYC: 10 Miles
The top 18 easiest and affordable commuter towns to NYC in 2023 include Carlstadt. The commute time to NYC is short since the town is 10 miles away from the city and the house prices are comparatively low.
12. Farmingdale
Median Home Price: $427,600
Distance from NYC: 29 Miles
Farmingdale is a cheap commuter town to NYC in 2023 as the median home price in the town is $427,600. Buses and trains are available in the town to help residents reach Manhattan with ease.
11. Yonkers
Median Home Price: $420,000
Distance from NYC: 16 Miles
Yonkers offers an easy metro train ride to Grand Central, New York City. It is also a great option for those looking for affordable housing close to the main New York City.
10. Englewood
Median Home Price: $410,200
Distance from NYC: 13 Miles
Englewood in New Jersey is another commuter town to NYC which has cheap housing and easily accessible express buses to the city. Situated close to George Washington Bridge, car commuters in Englewood can easily access Manhattan.
9. Great Neck Plaza
Median Home Price: $399,800
Distance from NYC: 16 Miles
Great Neck Plaza is a suburb of New York City which is an affordable commuter town to the city, offering a median home price of $399,800. It also provides the easiest possible commute to Manhattan through the Long Island Rail Road (LIRR).
Some of the top companies active most in NYC include Uber Technologies, Inc. (NYSE:UBER), Lyft, Inc. (NASDAQ:LYFT) and Empire State Realty Trust, Inc. (NYSE:ESRT).
8. Mount Vernon
Median Home Price: $380,500
Distance from NYC: 16 Miles
Located in Westchester County, Mount Vernon offers a low median home price of $380,500. Depending on the exact destination, the metro train from Mouth Vernon takes less than an hour to reach NYC which makes it another easy and affordable commuter town to NYC.
7. Harrison
Median Home Price: $366,400
Distance from NYC: 8 Miles
The easiest and affordable commuter towns to NYC in 2023 also include Harrison in New Jersey. The median home price in Harrison is $366,400 and it has a distance of 8 miles from New York City.
6. West New York
Median Home Price: $363,800
Distance from NYC: 5 Miles
West New York is an attractive commuter town to NYC in 2023. A short bus ride can be availed to reach New York City. Having a median home price of $363,800, West New York is an easy and cheap commuter town to NYC.
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Disclosure: None. 20 Easiest and Affordable Commuter Towns to NYC in 2023 is originally published on Insider Monkey.
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