The New York Shuffle
Hundreds of Thousands of New Yorkers Flee to Cheaper Towns Across the US
Hundreds of thousands of New Yorkers have left the city over the past two years to live in cheaper towns across the United States, according to a recent report from a real estate data company.
PropertyShark’s Report
PropertyShark’s latest report showed that more than 352,000 fed-up New Yorkers left the Big Apple in 2022, citing affordability reasons. The report, which examined the latest IRS data on address changes to see where New Yorkers were heading, also found that remote working made these moves easier for individuals and families.
New York City Not Becoming an Empty Wasteland
But the city is not becoming an empty wasteland, as the report also noted an influx of new New Yorkers. While New York’s output was greater than its input, 174,000 people moved into the bustling city, hailing from places including upstate New York, New Jersey, California, and Florida.
High Earners Most Likely to Move into New York
High earners were most likely to move into New York than out of it, specifically those earning $100,000 or more. Research from April 2024 backs up this point. A study released by SmartAsset, a consumer-focused financial company, showed that on average, a family of four needs to make at least $318,406 in order to live comfortably in the city.
Mayor’s Initiatives to Keep Costs Down
Despite the mass exodus, Mayor Eric Adams’ administration has been spearheading initiatives to keep high costs of living down in the city. According to Kayla Mamelak Altus, press secretary for the mayor, the administration is using "every tool in our toolbox to put money back in the pockets of New Yorkers" and address the major issues driving up the cost of living.
The New York Shuffle
Another group of about 125,500 New Yorkers simply moved within the sprawling city, according to the PropertyShark report, bouncing from one borough to another, with Manhattan taking in the most intra-city movers.
Leaving New York State
A 2024 study by Atlas Van Lines showed similar state-wide data. According to the moving company’s Migration Patterns Study, New York is a top outbound state, with 56% of recorded moves headed elsewhere in America from November 1, 2023, to October 31, 2024. Why are people moving out of the entire state, not just New York City? It’s not just about affordability, but also being closer to family, the report found.
Conclusion
In conclusion, the mass exodus of New Yorkers to cheaper towns across the US is a growing trend. While the city is not becoming an empty wasteland, the influx of new residents is a testament to its enduring appeal. The mayor’s initiatives to keep costs down and address affordability issues are crucial in retaining residents and attracting new ones.
FAQs
Q: How many New Yorkers left the city in 2022?
A: More than 352,000 New Yorkers left the city in 2022, citing affordability reasons.
Q: Where are most New Yorkers moving to?
A: Most of the outgoing New Yorkers stayed in the tri-state region, with about 179,000 relocated to various counties within the state, New Jersey, and Connecticut.
Q: Why are people moving out of New York State?
A: It’s not just about affordability, but also being closer to family, according to a report by Atlas Van Lines.
