Gen Zers are fleeing NYC faster than any other US metro

Key Points:

• New York City experienced the largest net outflow of Gen Z residents in 2024, losing 29,554 young adults, with many relocating to nearby cities like Philadelphia to find more affordable housing and job opportunities.
• The New York-to-Philadelphia migration is the second-most-popular route for Gen Z, with Philadelphia homes costing about $309,000 compared to New York's $832,000, allowing buyers to afford nearly three homes in Philadelphia for the price of one in New York.
• Gen Z movers tend to make relatively short-distance moves to maintain proximity to existing social and professional networks, prioritizing career opportunities while seeking lower living costs.
• Millennials are also leaving New York in large numbers but are more focused on relocating to metros with more affordable and spacious housing, such as Houston, Dallas, and Atlanta, where median home prices are below $450,000.
• The analysis, based on 2024 Census Bureau data, highlights differing priorities between generations: Gen Z pursues opportunity and career growth, while millennials seek more living space and affordability.