No it is misleading because of the much higher cost of living in a major city. When I moved here from a smaller city I thought Toronto was expensive until I saw New York which is insane. 

While this couple is not bad off they are paying $42 for childcare, 60 k for mortgages,  $32 for student debt and 24 k for property taxes. These are fixed annual expense that drastically cut  the amount of disposable income. 

I personally would never live in New York.