Gen Zers Exit New York City for More Affordable Metros, Redfin Analysis Shows
A significant number of Gen Z individuals are departing New York City, making it the U.S. metro with the largest net outflow of this demographic in 2024, according to a Redfin analysis of Census Bureau data. The city experienced a net loss of 29,554 young adults. Many of these young people are not moving far, with Philadelphia, just 90 miles south, being the second-most popular migration route for Gen Zers, attracting 9,284 individuals from the New York metropolitan area. This trend is driven by the pursuit of more affordable living costs and better job prospects, without completely severing ties with existing social and professional networks. For instance, the typical home in the New York metro sells for approximately $832,000, while in Philadelphia, it is around $309,000, offering a substantial housing discount.