Home News No more New York: People are trying to flee the Empire State for warmer destinations. Here’s why.

No more New York: People are trying to flee the Empire State for warmer destinations. Here’s why.

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New York, maybe people just don’t love you anymore.

according to new report New York lost more residents than any other state between April 1, 2020 and July 1, 2021, according to moveBuddha, a site that lets you calculate moving costs. US Census Bureau Population Estimates.

During that time, the state lost 319,020 people. According to the Census Bureau, as of 2020, New York State had a population of 20.2 million.

This report also used data collected from users looking for moving options on the moveBuddha website between January 1, 2022 and August 5, 2022. There were approximately 282,000 queries during this period.

New York was the fourth most searched state to move this year, the company added. This is next only to New Jersey, California and Illinois.

People are leaving their jobs for reasons such as unemployment and underemployment. skyrocketing rentHigher cost of living and higher taxes compared to other states, moveBuddha said in a study.

people seem to be too leave The Empire State in warm meadows. Searches from New York to Los Angeles were the most popular searches on moveBuddha. About 20% of New Yorkers considering moving planned to head to Florida, followed by California and Texas.

Of course, parts of New York City are still hot.rising rent and Increased pressure for employees to stay in the office Drive demand for condominiums in Tokyo.

There is also evidence that some people who left New York City early in the pandemic are returning. While the average cap on housing budgets for returning “rednecks” to New York (many of whom have actually returned to former residents) is $1.3 million, locals budget an average cap of $998,011 for home purchases. Setting. redfin report found.

But according to moveBuddha, the Queens, Bronx and Brooklyn neighborhoods all want to move out rather than move in this year.

The report also found that four of the ten counties with the highest population declines over the same period were in New York City: New York County (i.e. Manhattan), Kings County (i.e. Brooklyn), Bronx County, and Queens County.

Jamaica, NY, Bronx, NY, and Staten Island, NY were the fastest, according to users searching on the moveBuddha site.

In other words, for every 100 people leaving Jamaica, only 27 came in. In the Bronx he was 36 and in Staten Island he was 27.

According to moveBuddha, San Francisco was the most popular city to come from for those moving to New York.

Nevertheless, the Empire State has some advantages.

Typical home prices in Webster and Fairport, known as Rochester, New York, were around $218,000. Zillow Home Value IndexHouse prices are up 11.2% year-on-year.

In the college town of Ithaca, a typical home costs about $302,000. JiroHome prices rose 21.3% from last year.

Thinking about the housing market? Write to MarketWatch reporter Aarthi Swaminathan ([email protected]).

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