Is it possible to defer one grad school, while accepting another?

i was accepted into two grad schools—one in the current city i am living in and one across the country. both programs are 2 year programs. the one across the country is a school i am more interested in going to, but i feel very strongly about wanting to stay in my current city another year before i go. i think i could get a lot of value out of starting at the school in the current city and going for a year. the school in my current city has given me a lot of money for the first year only, so finances is fortunately not an issue for this first year (however i was only given money for the first year, so both programs end up costing the same). i want to defer a year at the school across the country and accept the school in my current city in the meantime, but i am told this might be risky. any thoughts or ideas as to whether this is a possibility?