The idea of graduating college and moving to New York City to make it big has long been somewhat of a cliche, but it’s also a dream that seems to still be holding true for current crops of college grads. New York City continues, to have the largest millennial population out of any city in the country (perhaps not surprisingly, given that it’s also the largest city overall), but the population of young people ages 20-36 who are moving within city limits continues to grow.
Here’s a look at a few interesting statistics.
Millennials are choosing the city over the ‘burbs.
While it may be cheaper to live in the suburbs of New Jersey, Westchester, or Connecticut, it’s not enough of a draw to attract young people. According to an article on Forbes, for every one Millennial who moves to the suburbs of New York City, 1.47 choose to live in one of its boroughs.
New York is still desirable.
Time recently released a list of the most moved-to cities and suburbs in the country. While New York came in at 25th on the list out of 50 metro areas analyzed, the millennial population growth rate was still a healthy 4.9 percent.
Millennials are staying put.
Millennials who do move to New York are also more likely than previous generations to stay around for a while. According to Census Bureau data reported by the Pew Research Center, in 2016 only 20 percent of millennials reported moving in the previous year, compared to 26 percent of Gen Xers surveyed in 2000, and 27 percent of late Boomers surveyed in 1990.
Or, get in touch with American Movers, Inc. to discuss details of your move.