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

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

according to a new report Per moveBuddha, a site where people can calculate their moving costs, New York lost more residents than any other state between April 1, 2020 and July 1, 2021, according to the Population estimates from the US Census Bureau..

During that period, the state lost 319,020 people. New York State’s population as of 2020 was 20.2 million, according to the Census Bureau.

The report also used data collected from users searching for moving options on the moveBuddha website between January 1, 2022 and August 5, 2022. There were around 282,000 searches during this period.

New York is the fourth most sought after state to move to this year, the company added. That’s behind New Jersey, California and Illinois.

People leave for reasons including unemployment or underemployment, sky-high rentshigh cost of living and high taxes, compared to other states, moveBuddha said in the study.

People also seem to be departure the Empire State for warmer pastures. From New York to Los Angeles was the most popular search on moveBuddha. About 20% of New Yorkers looking to relocate planned to go to Florida, followed by California and Texas.

Of course, some parts of New York City are still hot. Rising rents and Increasing pressure for workers to be in the office. is driving demand for apartments in the city.

There is also evidence that some people who left New York City earlier during the pandemic are coming back. And some are ready to spend on real estate. Returning ‘outsiders’ to New York (many of whom are actually returning former residents) have an average maximum housing budget of $1.3 million, while locals have budgeted an average maximum of $998,011 for a home purchase , a recent figure redfin report found.

But moveBuddha says that neighborhoods in Queens, the Bronx and Brooklyn have more people looking to leave, rather than move, this year.

The report also found that four of the top 10 counties that saw a population decline between the same time period are in New York City: New York County (i.e. Manhattan), Kings County (i.e. i.e. Brooklyn), Bronx County, and Queens County.

According to user searches on the moveBuddha site, the number of moves exceeded the number of moves: in Jamaica, NY, Bronx, NY and Staten Island, NY, the fastest.

In other words, for every 100 people who move from Jamaica, only 27 people move. In the Bronx, that number was 36 and in Staten Island, 27.

The most popular hometown for people who moved to New York was San Francisco, moveBuddha added.

Nonetheless, there have been some gains for the Empire State: moveBuddha saw far more people move to Webster, NY, Ithaca, NY, and Fairport, NY than outside.

The typical price of a house in Webster and Fairport, or also known as Rochester, NY, was around $218,000, according to Zillow Home Value Index. Home values ​​increased 11.2% from the previous year.

In Ithaca, a college town, the typical house costs about $302,000, according to Zillow. Homes have grown in value by 21.3% since last year.

Do you have any idea about the housing market? Email MarketWatch Reporter Aarthi Swaminathan at [email protected]

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