New York metro area sees significant Gen Z and Millennial outflow

The New York metropolitan area recorded the largest net loss of Gen Z residents in the United States in 2024. Census data analyzed by Redfin indicates that nearly 30,000 more young adults left the region than arrived. Millennials experienced an even larger exodus, with a net outflow of approximately 43,000 people aged 28 to 43.

A significant portion of these departures involved moves to Philadelphia. More than 9,200 Gen Z residents relocated from the New York area to Philadelphia, marking the second-busiest migration route for that generation in the country.

Economic factors, specifically housing costs and taxation, are cited as primary drivers for the migration. Redfin estimates the typical home price in the New York area at roughly $832,000, compared to approximately $309,000 in Philadelphia. High state and city income taxes, alongside the general cost of living, contribute to the trend of younger residents seeking affordability by moving across state lines.