New York City's Population Decline Driven by Broad-Based Outmigration
New York City has experienced a population decline in 2025, following two years of growth. According to a study by the Citizens Budget Commission, the city's net population decreased by 12,000, influenced by a significant drop in international in-migration and an increase in domestic out-migration. The study highlights that the exodus is not limited to the wealthy but spans across all income levels, with many residents leaving due to high living costs and limited housing options. The median asking rent in the city rose by nearly 7% to $3,585, exacerbating the housing crisis. Despite the population loss, rental prices continue to rise due to a chronic undersupply of housing.