Population change is driven by migration, both within the borders of the United States as people move around, or international trends as people arrive from abroad. It also depends on whether births outnumber deaths, or vice versa.
During that exact time period (July 2021 – July 2022) Ali Berger moved to Manhattan.
She first realized what she was missing when she saw Instagram Stories from her friends in New York City.
“People are back in bars and restaurants without masks and having fun and kind of getting back to normal,” said Berger, director of product marketing at a tech startup who watched the event on social media from her San Francisco apartment.
In August, Berger and her boyfriend, investment banker Ryan Jacobsen, who are both working remotely due to the pandemic, decided to test the Big Apple by renting an Airbnb apartment for four weeks.
By October, they had rented an apartment of their own.
Growth in the New York borough of Manhattan was driven by international immigration, and to a lesser extent by domestic immigration and births that outnumbered deaths. This came despite rising rents in Manhattan and coincided with many companies partially returning to their offices, ending some remote work opportunities.
This was despite the fact that actual median net rent, calculated after factoring in owner’s privileges, rose 33.4% year-on-year to $4,100 in July 2022, topping $4,000 The threshold is for the first time and is reaching a new high for the seventh month in a row, according to Douglas Elliman.
“The pandemic rental market recovery has been a rocket ship,” says real estate appraiser Jonathan Miller, who prepares Douglas Elliman’s monthly real estate report for New York City.
All population estimates are based on birth, death, and immigration data.
Despite recent gains, New York County still had a population shortfall of nearly 98,000 residents as of last July compared to April 2020, when COVID-19 spread rapidly across the United States and the metropolitan area became the epicenter of the virus, spurring the virus. Tens of thousands of residents flee. Surrounding counties continued to lose population last year.
While millennials have abandoned New York City in droves, with 96,600 members fleeing the city, the Big Apple has turned into a major magnet for Gen Z, according to an analysis of the 2021 American Community Survey by Homeowner Today, gaining more than 3,043 members from this generation – New York City’s biggest net earner across all age groups.
The three counties that include the Bronx, Brooklyn, and Queens recorded the largest population declines in the United States, with losses ranging from 40,000 to 50,000 residents.
Contributing: Associated Press
Swapna Venugopal Ramaswamy is USA TODAY’s housing and economics correspondent. You can follow her on Twitter @SwapnaVenugopal and sign up for the Daily Money newsletter here.
