Thursday, February 28, 2019

New York City Metro Area Has The Largest Outmigration Of 25–34 Year Olds

From City Journal, "Where Millennials Really Go for Jobs: Contrary to media hype, tech firms and young workers aren’t flocking to “superstar” cities." by Joel Kotkin and Wendell Cox, February 27, 2019:
[A]s a new Brookings study shows, millennials are not moving en masse to metros with dense big cities, but away from them. According to demographer Bill Frey, the 2013–2017 American Community Survey shows that New York now suffers the largest net annual outmigration of post-college millennials (ages 25–34) of any metro area—some 38,000 annually—followed by Los Angeles, Chicago, and San Diego. New York’s losses are 75 percent higher than during the previous five-year period.

By contrast, the biggest winner is Houston, a metro area that many planners and urban theorists regard with contempt. The Bayou City gained nearly 15,000 millennials net last year, while other big gainers included Dallas–Fort Worth and Austin, which gained 12,700 and 9,000, respectively. Last year, according to a Texas realtors report, a net 22,000 Californians moved to the Lone Star State.

The other top metros for millennials were Charlotte, Phoenix, and Nashville, as well as four relatively expensive areas: Seattle, Denver, Portland, and Riverside–San Bernardino. The top 20 magnets include Midwest locales such as Minneapolis–St. Paul, Columbus, and Kansas City, all areas where average house prices, adjusted for incomes, are half or less than those in California, and at least one-third less than in New York.

Perhaps even more significant has been the geographic shift within metro areas. The media frequently has exaggerated millennial growth in the urban cores. In reality, nearly 80 percent of millennial population growth since 2010 has been in the suburbs.
From Brookings Report, "How migration of millennials and seniors has shifted since the Great Recession" by William H. Frey, January 31, 2019:

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