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Buying a business: New York vs Pennsylvania

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

New York

2,646 active listings
Active listings2,646 Edge
Median asking$425,000
Median cash flow$185,110 Edge
Typical multiple2.3×
Owner-earnings yield~44%
Median revenue$850,000
VS

Pennsylvania

984 active listings
Active listings984
Median asking$350,000 Edge
Median cash flow$172,000
Typical multiple2.0×
Owner-earnings yield~49%
Median revenue$678,000

Who wins?

New York has 169% more businesses on the market than Pennsylvania (2,646 vs 984). Pennsylvania is cheaper at the median asking price. Pennsylvania trades at a lower multiple (2.0× vs 2.3×), meaning you pay less per dollar of cash flow there.

MetricNew YorkPennsylvania
Active listings2,646984
Median asking$425,000$350,000
Median cash flow$185,110$172,000
Typical multiple2.3×2.0×
Owner-earnings yield~44%~49%
Median revenue$850,000$678,000
Related comparisons

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