Why Do So Many People Move to NYC?
During the pandemic times, we could see headlines about people deserting NYC. However, the statistics show a very different picture. The thing is that people were moving out from some parts of NYC. The biggest number of them was leaving from Manhattan. Especially those who could work remotely. And, according to records of the Best Movers NY, most of them were actually just relocating to suburbs. At the same time, during 2019 and 2020, some parts of the City actually saw more people moving in than before. This was especially happening in the Bronx, Queens, and parts of Brooklyn. And in 2021 and 2022, the overall number of inbound moves has increased. So, why do so many people move to NYC?
So – why do so many people move to NYC?
You could hear many times that New York is a city of great opportunities. And that is the biggest reason why people decide to move to NYC. Of course, there are also those whose priorities for relocation are different. Some immigrate to study. NYC is known for some of the best schools and universities. Some are coming to join their spouses. However, most people move in search of a better life. In NYC, it is possible to easily find excellent-paying jobs. Although the competition is huge, there is also a constant growth in job markets.
There are some other reasons why people are using the services of the long distance movers in NYC. Some of them are that NYC is an art hub. It has numerous museums and galleries. And it has a famous Broadway. Besides, many publishers have their HQs in NYC. So, many who want to start a career in the arts, are trying to move to NYC. It is attractive to both, art students, and aspiring artists. And, it is attractive to many famous artists too. They say that NYC is giving them endless inspiration for their work.
When moving to NYC, it is important to choose the right borough
What borough is best for you will depend on why you are moving to NYC. In case you are just returning back from the suburb, it is easy. You are most probably going back to your work. And to the area where you used to live before. So, you can simply give a call to local movers in NYC. However, if you are a newcomer, you should make clear:
- what are your reasons for moving
- which borough is the best for your needs
- will you be able to support your living in NYC financially
In most cases, the newcomers are making compromises. For example, if you have secured an excellent job in Financial District, you may live somewhere else. Many young professionals are opting for this. At least when they are at the beginning of their career. Living in a cheaper borough and working in Manhattan is possible due to excellent public transportation. It is making commuting easy and fast.
Living in NYC can be a challenge
Are you among those moving to NYC for the first time? If so, you have to prepare yourself. Living in NYC can be fun. But, you will be surrounded by so many attractions. You can just imagine its nightlife, so rich with parties, music, theater performances, etc. We have all heard many times that NYC never sleeps. And, that is very true. However, you will have to set your own rhythm. Bottom line, the next day you will have to attend college. Or to go to work. And, it is not always easy to say no to nightlife attractions.
On the other hand, daytime NYC has a lot of attractions too. There will be so many tempting things to do. You would want to visit a lot of places you were listening about. Our advice is to take it easy. Living in NYC you will have enough time for discovering it, neighborhood by neighborhood. And you can also check the housing prices doing so. Since the people started to return, the housing prices went up by more than 10%, in comparison to the prices in 2019. Say, you manage to rent a suitable apartment in Brooklyn. In that case, give a call to residential movers in Brooklyn and ensure a fast and affordable relocation.
New rental prices in NYC
In case you plan to come back, follow the real estate market. The same applies if you are moving to NYC for the first time. Namely, during the pandemic crises, many renters were lowering the monthly prices to keep the tenants. Especially those in Manhattan. This makes the rise of rental prices in Manhattan special. The rental prices are rising on average by 10% to 15% in NYC. At the same time, in Manhattan, you can easily expect a rise of 35%. And, in many cases, the rise is much higher, sometimes reaching 60%. According to Erin Evers, a staff attorney in the housing unit of Legal Services NYC, the rent increases depend on the lease. So, unfortunately, the renters can raise the rents as much as they want.
Reasons for high rents
The reason is simple. The landlords are putting the rental prices back to the level from before the pandemic crises. And, they are adding up the provisional percentage on that amount. This added percentage depends on demand. And we all know very well that the housing demand in NYC has always been high. And, it is now even higher.
Not only the previous residents are coming back from the suburbs. Some of those who moved to Manhattan from other boroughs have decided to stay. And, at the end of 2021 and the beginning of 2022, people from other US states and cities started to move to NYC.
Rents are rising in other boroughs too
Also, during a pandemic, some people from other boroughs used lower rental prices to move to Manhattan. Now, they are using the services of Manhattan movers to go back to their previous boroughs. However, the rental prices in those boroughs have gone up. Luckily, not so much as in Manhattan. The reason for rents increase is twofold:
- increased number of newcomers
- people moving from the further areas closer to Manhattan
Due to that, the demand is also rising in the other neighborhoods. The housing prices are still affordable in those places. But, finding them is not so easy anymore.
What has changed regarding apartment renting
However, not all is as bleak as it looks at first sight. Compared to 2019, some things have become better for those who are renting. For example, in 2019, a renting in NYC, you would have to pay:
- first month’s rent
- security deposit (which amounts to several monthly rents)
- last month’s rent
- and you had to pay a broker’s fee
So, just to move into an NYC apartment, you needed about $10,000. The Housing Stability and Tenant Protection Act was enacted in the meanwhile. So, by this Act, the landlord can charge you only the first month’s rent and a deposit. The deposit can’t be bigger than one month’s rent. And, this is helping people who want to move back to NYC a lot. As well as the first-time renters.
The population of the New York City metro area in 2022
We have noted that stats data can show a different picture than the headlines. So, let’s see what was happening in NYC in the last few years. The total population of the NYC metro area in 2022 is 18,867,000. And in comparison with 2021, it presents a 0.23% increase. The figures further tell us that in 2021 the NYC metro area had an increase in the population of 0.1%, compared to the previous year. This means that in 2020, the NYC metro area had 18,804,000 residents.
As we can see from those figures and from the data collected from the moving companies NYC residents were moving. Most of those living in the state were moving northward. They were heading mostly to New Jersey. That way, they were staying close to home. But not in so densely populated areas.
During the crisis, the population in the NYC metro area was actually increasing
Well, we can see from the stats that the metro population was, in fact, increasing. And that the increase was considerably higher in 2022. So, the NYC metro area was actually never losing population. Moreover, it was growing. The growth was slower during the pandemic period. But it was still there. And, if you talk to the Bronx residential movers, they will tell you how they were busy during the time when the world stood still.
So, the stats are telling us a bit different story. Yes, some people were leaving. But, at the same time, some were moving to NYC, despite the crises. We can also see from records that people were relocating within the NYC metro area. Or, to be more precise, they mostly moved from central NYC parts towards suburbs. They want to stay in NYC. And the only reason for their moving was social distancing. That’s why many were trying to rent houses with yards. That way, they could stay outside, in their yards, without breaking the curfew.
The population of NYC in 2022
Besides having the overall picture of the NYC metro area, let us see some info about The City. Presently, about 8,930,002 people are calling NYC home. That number is based on the last US official census in 2020. At that time, the total NYC population was 8,804,190. Since the disturbances caused by the pandemic are over, we can expect that lot of residents will move back to their previous boroughs. For example, if you have moved to Manhattan from Queens, you will probably hire residential movers in Queens again. This time to move you back to your affordable neighborhood.
Talking about population, let us see a quick overview of the costs of living. According to the latest statistical data, the average NYC income is $102,946. The poverty rate is 17.27%. The median house value is $635,200. And, in case you are renting, it will cost you $1,489 per month. In NYC, the average median age is 36.7.
Temporal escape from New York
Hundreds of thousands of people move to or from NYC homes annually. Some are leaving the city. Or moving to NYC from some other areas. Still, most people are moving from one neighborhood to another or borough. During the pandemic, the number of people asking for address change increased by 36%.
However, most of those were filling out temporal forms for the address change. This shows that people just wanted to move to less populated areas for some time. And, checking the movers’ data, we can see that about 92% of moves were residential. So, no wonder many of them are coming back to their previous NYC neighbors.
NYC migration patterns by boroughs
We have already seen that most of the outbound moves in NYC during the pandemic were from Manhatten. So, the net number of residents moving out rose from 10 to 34 per 1,000 residents. The situation in other boroughs was as follows:
- Bronx – 9.3 to 15.7 per 1,000 residents (69%)
- Queens – 8.6 to 18.3 per 1,000 residents (113%)
- Staten Island – 2.6 to 4.1 per 1,000 residents (57%)
- Brooklyn – 8.3 to 28.7 per 1,000 residents (tripled)
At the same time, the number of Manhattan residents was growing. It went from 19.0 to 91.9 per 1,000. But we have already discussed this phenomenon. Suddenly cheap and available apartments in Manhattan were attracting many to move.
Besides returnees, many people from other places move to NYC
NYC is a city of the free and brave with opportunities. In the City, you will find highly developed industries like healthcare, financial services, retail, and many more. Also, there are many opportunities for manufacturing. So, many people are moving to NYC due to the abundance of career and job opportunities.
And in case you have your own business, you can use the reliable services of commercial movers NYC. By relocating your business to NYC, you will stand excellent chances of expanding it. NYC is also known as an excellent place for startups. And the fact that the purchasing power of the NYC inhabitants is great will also contribute to the development of your company.
Welcome back to New York City
After a long period, we can see some hope. In 2022 finally, more people are moving to NYC than leaving it. And, this is a nice sign that things are returning to normal. We could also see that most of the people didn’t leave the region. This tells us that they were just waiting for things to return to normal. So that they could go back home. However, if we want to know why do so many people move to NYC, we have to consider the newcomers moving reasons too. Simply said, this is an excellent town which offers ample opportunities. And that is attracting so many people to move here.