You can count on search engine driven results with a hyphenated name as much as you can with a non-hyphenated name... but when it comes to type-ins, forget about it.
The fact is, most geo keywords are so well established on the search engines that you would have a very difficult time competing.
Personally, I would pick a keyword combination like "mynewyork" over "new-york" any day of the week. It would be my advice to find a domain without hyphens before you put effort into building a site which might end up having difficulty driving traffic.
As a website owner, your bread and butter is causing money to change hands, and using such transactions to make a profit. Getting traffic is the preliminary... which is why a good, easy to remember domain name is so important. Hyphens create confusion, so it is likely to reduce the traffic your site should be getting, and inherently, reduce the revenue.