The Post Office says 300,000 New Yorkers have fled the city — for places like the Hamptons and even Honolulu
- More than 300,000 New Yorkers moved away from the city over the course of the
coronaviruspandemic, according to US Postal Service data obtained by the New York Post.
- Many of the Big Apple's richest, which account for close to half of the city's tax revenue, are among those who have fled.
- Many former city dwellers have requested mail-forwarding services to tony tristate area suburbs and the
Hamptons. Some went even father, to exotic locales like Hawaii.
Roughly 300,000 New Yorkers left the city for greener pastures over the last eight months.
The New York Post obtained data regarding mail-forwarding requests from the US Postal Service through a Freedom of Information Act request and found that hundreds of thousands of households fled
A mass exodus from the Big Apple
As the pandemic rages on, there's no telling who will come back when.In September, the CEOs of more than 160 companies demanded that
Stakes are high: The mass exodus from New York — which has compressed a typical five-year migration trend into just a few months — stands to cost the city billions.New York authorities expect to see $59 billion in revenue shortfalls through 2022. The city's richest residents, which account for just 1% of the population, had a combined $133.3 billion income in 2018. Those one-percenters, though, paid out 42.5% of the city's total income tax. Just 38,700 New Yorkers accounted for a whopping $4.9 billion in tax revenue that year. It's those very city-dwellers who have fled and taken their tax dollars with them. Mail-forwarding requests were concentrated in wealthier neighborhoods — with three ZIP codes on the Upper West Side topping the list of spots seeing outbound migration. Other Manhattan neighborhoods drained of the most inhabitants include Murray Hill, Chelsea, Greenwich Village, and the Upper East Side.
So where did the richest New Yorkers go?
Many New Yorkers decided to stay close to home. Over 65,000 households simply decamped to nearby suburban spots in Long Island and Westchester (both in New York State) and New Jersey. The ritzy areas of Scarsdale, in Westchester, and Greenwich, Connecticut, also saw an influx of new residents.tensions between natives and pandemic escapees ran high. Locals in the Long Island enclave wielded pitchforks to stage a protest against city billionaires riding out coronavirus there.
Already notably posh, the Hamptons only got bougier amid the pandemic. Certain high-end retailers like Jimmy Choo and Giorgio Armani opened up East Hampton pop up locations while an elite Manhattan prep school opened a brand-new Hamptons outpost, complete with remote classes and $48,000-a-year tuition.
Those hoping to relocate to the Hamptons are finding the same sky-high home prices that plague the tristate-area suburbs. As Business Insider's Dominic-Madori Davis previously reported, the rental market in the Hamptons is pricing out even the "middle-class rich people."
Some folks fled farther afieldWhile many remained within commuting distance to the city, others are seemingly participating in an extended vacation. According to the Post, over 13,000 city-dwellers fled to South Florida and nearly 9,000 fled to Los Angeles. More than 400 people escaped to Honolulu in Hawaii.
Take Aspen, Colorado. The top Compass agent there told Business Insider that the brokerage had $1.084 billion in property under contract in August — at the same time last year, that figure looked more like $111 million. In nearby Telluride, another real-estate agent told Business Insider that the average home price has "gone up dramatically" due to demand amid the pandemic. "We have well under six months' inventory, which is a big deal for a resort town," he said, considering the "hyperseasonality" of the area.Other far-flung locales that are not necessarily resort towns have also seen waves of newcomers amid the pandemic, including booming southern areas like the "research triangle" of Raleigh, Durham, and Chapel Hill in North Carolina and the spirited Dallas suburb of Frisco, Texas.
And as coronavirus cases continue to rise across the US, the urban exodus seems primed to continue.
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