FOR IMMEDIATE RELEASE: October 20, 2023
Media Contact: press@fiscalpolicy.org
Latest Census Data Confirms New York Losing Residents to Neighboring States with Lower Housing Costs
“New Yorkers are primarily moving to neighboring states with a lower cost of living — and in particular, lower housing costs”
ALBANY, NY | Following the release of 2022 U.S. Census Bureau data this week, Fiscal Policy Institute Executive Director Nathan Gusdorf today released the following statement:
“New Census data revealed that New York State lost a net total of 244,100 people in 2022. The latest Census data, which details state-to-state migration patterns, confirms the Fiscal Policy Institute’s prior findings: New Yorkers are primarily moving to neighboring states with a lower cost of living, and in particular, lower housing costs. Meanwhile, less than half of New Yorkers are leaving for low tax states. This data confirms State fiscal policy should focus on turning New York into a place where people can afford to live and raise families — from investing in universal childcare and high-quality public education to affordable housing and reliable public transit. Conversely, budget cuts or underfunding will only hinder New York’s economic recovery. Increasingly unaffordable housing and childcare, combined with shrinking state services, will continue to drive both individuals and businesses out of our state.”
Background:
- Gross outmigration: 545,600; Net outmigration: 244,100 [Census.gov]
Less than half of New Yorkers are leaving for low tax states: Gross outmigration to low tax states (bottom third of states by average income tax): 211,400; Net: 121,100
- Of the top 5 destinations for New Yorkers moving out of state, only one — Florida — is a low-tax state: Florida (17%), New Jersey (14%); Connecticut (9%), Pennsylvania (8%), California (6%)
- Of the top 5 destinations for New Yorkers moving out of state, all except California have lower housing costs.
- The typical family that moves out of New York State saves 15 times more from lower housing costs than they do from lower taxes. Of the top twenty largest county-to-county moves out of New York State, annual mortgage costs are on average $18,300, or 34 percent, lower outside New York, and annual rents are on average $5,600, or 19 percent, lower outside New York. [FPI]
- New York’s downstate suburbs build far less housing than those in New Jersey and Connecticut. [ny.gov]
The Fiscal Policy Institute is a nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all.
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FOR IMMEDIATE RELEASE: October 20, 2023
Media Contact: press@fiscalpolicy.org
Latest Census Data Confirms New York Losing Residents to Neighboring States with Lower Housing Costs
“New Yorkers are primarily moving to neighboring states with a lower cost of living — and in particular, lower housing costs”
ALBANY, NY | Following the release of 2022 U.S. Census Bureau data this week, Fiscal Policy Institute Executive Director Nathan Gusdorf today released the following statement:
“New Census data revealed that New York State lost a net total of 244,100 people in 2022. The latest Census data, which details state-to-state migration patterns, confirms the Fiscal Policy Institute’s prior findings: New Yorkers are primarily moving to neighboring states with a lower cost of living, and in particular, lower housing costs. Meanwhile, less than half of New Yorkers are leaving for low tax states. This data confirms State fiscal policy should focus on turning New York into a place where people can afford to live and raise families — from investing in universal childcare and high-quality public education to affordable housing and reliable public transit. Conversely, budget cuts or underfunding will only hinder New York’s economic recovery. Increasingly unaffordable housing and childcare, combined with shrinking state services, will continue to drive both individuals and businesses out of our state.”
Background:
- Gross outmigration: 545,600; Net outmigration: 244,100 [Census.gov]
Less than half of New Yorkers are leaving for low tax states: Gross outmigration to low tax states (bottom third of states by average income tax): 211,400; Net: 121,100
- Of the top 5 destinations for New Yorkers moving out of state, only one — Florida — is a low-tax state: Florida (17%), New Jersey (14%); Connecticut (9%), Pennsylvania (8%), California (6%)
- Of the top 5 destinations for New Yorkers moving out of state, all except California have lower housing costs.
- The typical family that moves out of New York State saves 15 times more from lower housing costs than they do from lower taxes. Of the top twenty largest county-to-county moves out of New York State, annual mortgage costs are on average $18,300, or 34 percent, lower outside New York, and annual rents are on average $5,600, or 19 percent, lower outside New York. [FPI]
- New York’s downstate suburbs build far less housing than those in New Jersey and Connecticut. [ny.gov]
The Fiscal Policy Institute is a nonpartisan, nonprofit research and education organization committed to improving public policies and private practices to better the economic and social conditions of all.
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