NYC lost high earners, billions in income with migrants reversing population decline: report

Escape from New York City.

From 2017 to 2022, New York City recorded an outflow of tens of thousands of high-earner residents who took an income of billions of dollars, although the Big Apple 2023 and 2024 stimulated an increase in the population of 2023 and 2024 by an influx of migrants.

The population of the Big Apple began to lose weight in 2017 and then dropped of almost half a million inhabitants between April 2020 and July 2022 during the pandemic. The report from the impartial citizens’ budget commission (CBC) based in Albany.

The report states that many of the transplants have fled Miami-Dade and Palm Beach in Florida and the counties, and the Total amount From a personal income to leave the State for Florida, was $ 13.7 billion.

New York has lost more inhabitants in one year than any other state in the country, as the US people counting data show

For example, individuals who moved to Miami-Dade County had an average income of more than $ 266,000, while those who moved to Palm Beach County an average of $ 189,000.

The abandoned were driven by the pandemic, Immigration policyAffordability problems, quality of life and job opportunities according to the report. New York City carried out serious reduction, while Florida, after a short closure, aggressively began to open and prohibit vaccination mandates by employers and companies.

In addition to Florida, the New Yorkers went to the suburbs on Long Island and West Chestian and in the nearby states such as New Jersey, Connecticut and Pennsylvania. Those who left the Tristate region also moved to California and Texas.

“The people who leave New York may choose a place that offers you a higher offer by a better mix of quality of life and living costs,” says the report. “In particular, Florida and Texas have lower taxes. While New Jersey and the rest of the state of New York have relatively high taxes – even if they are lower than New York City – apparently offer amenities that are to be given the decision to be worth it for some.”

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The trend recently reversed when the population of New York City has grew in the past two years, according to the report of 120,000 inhabitants. Although this is not mentioned in the report, this would still point out a net outflow of New York residents that left the city Since spring 2022.

Andrew Rein, President of the CBC, said New York City The long -term success depends on its ability to remain competitive.

“With the developing economy, affordability and the challenges of the quality of life, competitiveness in New York City – the ability to attract and keep residents and companies – is one of the most important questions of our time,” said Rein.

The state of New York and its places are the national high control leaders who have collected most of the taxes per person-23% more than second place in California and 79% more than the national average in accordance with the report. New York retains its first ranking in the assessment of taxes as part of personal income.

With a population of around 8.25 million people, New York City’s budget 2025 is 110 billion US dollars.

In comparison, the population in Florida is almost three times as large as 23.35 million people with an annual budget of 115.6 billion US dollars. The Sunshine State has no income tax.

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According to a survey by the CBC, the New Yorkers believed that the quality of life and public security decreased from 2017 to 2023, with only 30% rating of 51% of only 30%, and many feel uncertain in U -Bahn and Parks, especially at night.

Nevertheless, most local parks, playgrounds and cultural offers are positive, which contributes to attracting residents and tourists, the report says.