Gen Z Exits New York City in Droves

It seems that while New York continues to attract young dreamers, an increasing number of Gen Zers are actually leaving. In 2024, the city saw a net loss of 29,554 young adults from this generation—the highest in the nation, according to a recent analysis of Census Bureau data by Redfin.

Interestingly, many of those departing aren’t straying too far from home.

Philadelphia, located just 90 miles to the south, has emerged as a major destination, with 9,284 Gen Z individuals relocating there. This move marks Philadelphia as the second most popular migration choice for this age group, following those who leave Los Angeles for nearby Riverside, California.

One of the biggest draws for these young movers is the significant difference in housing costs. In New York, the average home price is around $832,000, while in Philadelphia, it’s just $309,000, as noted in the Redfin report.

This disparity suggests that moving to Philadelphia could allow buyers to purchase nearly three homes for the cost of one in New York. The trend indicates that young Americans are not entirely severing ties with their home regions; they’re rather looking for affordable housing and improved job options close to family, friends, and existing professional connections.

“Younger adults seem to be gravitating toward cities where they can both start their careers and build their social lives,” observed Sheharyar Bokhari, a principal economist at Redfin. “Conversely, millennials are leaning more towards areas where their salaries can go further and owning a home is within reach.”

Bokhari further emphasized that most young Americans are not fleeing high-cost cities for the absolute cheapest options available. Rather, they are often opting for shorter relocations to achieve a more favorable cost of living or career opportunities without relinquishing their support networks.

The most frequent route for Gen Z was from Los Angeles to Riverside, where 10,261 made that approximately 60-mile transition. The New York to Philadelphia route followed closely, with Los Angeles to San Diego coming in next, attracting 9,237 movers.

New York isn’t just losing Gen Zs; it has also recorded a significant exodus of millennials, who departed in net numbers totaling 42,698. Close behind was Los Angeles with 31,107, and Miami, which saw a loss of 21,373.

However, there seems to be a divergence in what these age groups are pursuing. “Gen Zers are in search of opportunities, while millennials are more focused on finding space,” said Bokhari.

In contrast, millennials seem inclined to move to areas where larger homes remain attainable. Houston topped the list for millennial migrations, gaining 16,365 people, followed by Dallas, Baltimore, Las Vegas, and Atlanta—all boasting median home-sale prices below $450,000.

This analysis was based on the 2024 American Community Survey from the Census Bureau, categorizing adult Gen Zers as individuals aged 19 to 27 and millennials as those aged 28 to 43.