People are coming back to New York City, data suggests

In 2020, New York City became the epicenter of the pandemic in America, and millions of people left the city. For the majority of residents, these changes were temporary. Now, New Yorkers are coming back. 

Currently, three-quarters of residents, who left NYC at the beginning of the pandemic, have returned to the city. The data came from the new research by City Comptroller Scott Stringer. The estimates are based on monthly change of address data provided by the USPS (United States Postal Service).

Based on USPS findings, most people left the city during the spring and summer of 2020. If you purchased a property during this time, you made a great investment. Now, new residents move to NYC at the same rate as before the pandemic. As a result, the city’s housing market is filled with demand from potential homebuyers.

Resources:

“NYC Has Regained Three-Quarters Of Residents Who Fled During COVID, Data Suggests,” by Jake Offenhartz (Gothamist, 2021)

“The Pandemic’s Impact on NYC Migration Patterns,” by New York City Comptroller Scott M. Stringer (Comptroller, 2021)

“Fleeing New Yorkers resulted in an estimated $34 billion in lost income -study,” by Jonnelle Marte (Reuters, 2020)

“Change of Address Stats,” (USPS, 2020, 2021)