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How the Pandemic Did, and Didn t, Change Where Americans Move
April 19, 2021
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As disruptive as the pandemic has been, for the most part it hasn’t altered the underlying forces shaping where people want to live. The pandemic raised the possibility that more workers could move anywhere, potentially scrambling the map of booming and declining places in the American economy. And new data shows that it did indeed appear to prompt an unusually large flow of urban residents out of New York and San Francisco, two regions with a high share of jobs that can be done remotely even after the pandemic is behind us.
Money walks: Map reveals the flight of residents from NYC s wealthiest zip codes during COVID-19 pandemic
More than 1 in 10 residents of some Manhattan neighborhoods permanently fled New York City during the COVID-19 pandemic, a new study shows
Four zip codes in the Midtown-Hell s Kitchen zone - 10036, 10019, 10022, and 10017 - saw 11% of their population leave
Wealthy, mobile young professionals accounted for most of the departures, often from gentrified neighborhoods
The report from commercial real estate firm CBRE found New York was second only to San Francisco for the number of net departures last year
It used US Postal Service data from 29 million address changes to analyze population changes during the COVID-19 pandemic
arrow A woman moving out of her NYC apartment in May of 2020 PETER FOLEY/EPA-EFE/Shutterstock
In the year since New York became the global epicenter of the COVID-19 crisis, there’s been no shortage of predictions about the impending death of the city, hand-wringing about the new urban obsolescence, and rumors of residents fleeing for idyllic suburban life. But while census figures have shown the city’s population is shrinking it was before the pandemic, too there’s been little concrete data about which New Yorkers are leaving, and where they’re going.
A new study from the commercial real estate firm CBRE seeks to fill in some of those gaps. The analysis of 29 million address changes across the country found that New York City saw the second largest increase in net move-outs last year, behind only San Francisco.