New York homes cost $832,000, so Gen Z is flocking to a city 90 miles away where they can buy nearly 3 houses for the price of one

There is no doubt that many young Americans still want to come and settle in New York but a recent Redfin analysis of Census Bureau data tells a different story. More and more Gen-Zers left the NYC than any other US metro in 2024 in a dramatic shift, posting a net outflow of 29,554 young adults. The biggest reason why Gen-Z are leaving New York is the rising housing costs, according to New York Post. The typical home in the New York metro sells for about $832,000, compared with just $309,000 in Philadelphia, according to Redfin. This means buyers heading to Philly could theoretically purchase nearly three homes for the price of one in New York.

The data shows that a whopping 9,284 Gen Zers have moved to a new city- Philadelphia- just 90 miles south of the New York metropolitan area. This has made Philadelphia country’s second-most-popular migration route for the generation, behind only trading Los Angeles for nearby Riverside, California.