When thinking about New York, it’s hard to believe one could leave it. However, there are different reasons why New Yorkers decide to move. The cost of living in New York City is one of the highest in the nation.
With rising prices, inflation, and more flexible remote work options, it’s no surprise that many New Yorkers moved to more affordable areas. According to reports, about 545,500 residents left the Empire State in 2022.
Overall, in the U.S., 8.2 million people left their state and moved to another one. According to the U.S. Census Bureau, 2022 recorded a 3.8% increase in migration over 2021. Consequently, this report has made many curious about where the New Yorkers moved and why.
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While the largest share of people leaving New York left for Florida (91,201), many moved to neighboring states. According to reports, New Jersey saw the second-largest influx of New Yorkers last year. Over 75,103 people who left the Empire State reportedly moved to New Jersey.
Next is Connecticut, where 50,670 New Yorkers moved to. In addition, 44,807 New York residents moved to Pennsylvania. According to the Census Bureau, more people moved to New York in 2022 than any year over the last decade.
However, the state suffered a net population loss of 244,000 people. Despite the large number of New Yorkers who relocated, most of them avoided some states. States like Wyoming, Montana, Iowa, Mississippi, and South Dakota had fewer than 500 people who moved from New York in 2022.
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While life in New York is appealing, there’s a price to pay. And it’s the cost of living that makes New Yorkers leave and settle down somewhere cheaper. It’s no secret that New York is pretty expensive.
For most people, it’s not worth spending so much money when they can have a better life elsewhere. The overall cost of living in New York is about 150% higher than the national average.
In addition, the housing market in N.Y. is constantly growing, as are prices. Whether you rent or want to buy a house in New York, you can expect to pay a large amount. The median home price bid is about $740,000, while the median rent is $6,500, depending on the size of the home.
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Americans moved in 2022 to improve their quality of life, live in a cheaper area, and get a bigger home. According to a survey from Home Bay, a California-based real estate brokerage, nearly a quarter of people said quality of life was the most crucial factor in moving states.
In addition, New Yorkers moved in search of a quiet life. New York has a lively atmosphere. However, it can be overwhelming to constantly be in the center of a busy, crowded, and noisy environment.
Many people experience burnout at some point in life and want to retreat to more quiet places. Hence, it is one of the reasons New Yorkers move, especially if they have a family with young children.
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