Gross Metropolitan Product (New York, Long Beach, Aurora: property taxes, houses, income)

[Check123]

If moving, an important consideration is the local economy you're moving to. One indicator is the Gross Metropolitan Product. It, along with other factual data, should be a part of your decision making process. Of the 412 metropolitan areas, here are the top 20 rankings for 2004:

Rank Metro Area GMP (Billions)

1. New York-Northern New Jersey-Long Island, NY-NJ $901.3
2. Los Angeles-Long Beach-Santa Ana, CA $581.3
3. Chicago-Naperville-Joliet, IL-IN-WI $392.6
4. Washington-Arlington-Alexandria, DC-MD-VA-WV $276.2
5. Dallas-Fort Worth-Arlington, TX $256.4
6. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $253.4
7. Boston-Cambridge-Quincy, MA-NH $233.7
8. Houston-Sugar Land-Baytown, TX $214.7
9. San Francisco-Oakland-Fremont, CA $204.9
10. Atlanta-Sandy Springs-Marietta, GA $198.1
11. Miami-Fort Lauderdale-Miami Beach-FL $184.2
12. Detroit-Warren-Livonia, MI $176.0
13. Seattle-Bellevue-Tacoma, WA $155.0
14. Minneapolis-St. Paul-Bloomington, MN-WI $145.8
15. Phoenix-Mesa-Scottsdale, AZ $140.8
16. San Diego-Carlsbad-San Marcos, CA $136.1
17. Riverside-San Bernardino-Ontario, CA $122.7
18. Baltimore-Towson, MD $112.4
19. Denver-Aurora, CO $108.5
20. St. Louis, MO-IL $102.0

[leavingNY]

Since you are on the topic of GMP, you should also look at the "Per Capita" GMP. That is the number of dollars in the GMP per person in that city. New York drops from number 1 to number 14.

There's barely a difference in the per capita dollar figure between cities like NY ($48,172) and cities like Charlotte NC ($46,305).

[GCGuy]

Originally Posted by leavingNY

Since you are on the topic of GMP, you should also look at the "Per Capita" GMP. That is the number of dollars in the GMP per person in that city. New York drops from number 1 to number 14.

There's barely a difference in the per capita dollar figure between cities like NY ($48,172) and cities like Charlotte NC ($46,305).

Excellent, show me the numbers, please. By the way, per capita means little since in older and more dense areas like NY there are many wealthy as well as poor people. The many poor in NYC alone unjustly skews how impressive the city is. You obviously are bitter about the area, but I would love to see those numbers anyway.

To even imply that Charlotte is in the same tier at NYC economically is silly.

[I'minformed2]

don't bother....when a person from NY has it set in their mind that NY is a horrible place that is "pushing" them away to a far better place where the grass is greener.....it takes a good few years in their new destination to take them off of that pedistal. At least it did for me.

[Check123]

Unfortunatly, GMP per capita is meaningless when more relevant data is available, such as Per Capita Personal Income.

Per Capita Personal Income, 2005:

New York $40,507
North Carolina $30,553

Based on a cost of living calculator: If you earn $40,507.00 in Nassau County - NY, then you will need to earn $32,068.32 in Charlotte - NC.

Based on the data, you will be short $1,515.32. Actual results may vary.

[mead]

The problem with that idea is that the cost of living is significantly lower in areas like North Carolina. Houses are half the price of what they are in the NYC area (if not more), and the property taxes are next to nothing ($3k per year as compared to $10k per year).

So in the end you might be better off financially in an area like North Carolina.

[Check123]

That's why I utilized a cost of living calculator in my previous post. It compensates for such differences. Read.