(BUSINESS INSIDER) — Why is the Big Apple losing its bite?
With a long history of attracting young professionals, New York City has long been known as a “must move to” hotspot. But in a June 2020 SmartAsset report tracking the top cities millennials were settling in, New York didn’t even make the top 25.
And this is based on US Census net migration data from 2018 – before the pandemic. SmartAsset ranked the list by subtracting the number of people ages 25 to 39 who moved out of each city from the number of people in the same age range who moved into the same city that year. Turns out, millennials are largely moving out west and to the south. Many of these cities are typically more affordable than traditionally popular places like San Francisco or New York.