Manhattan’s population is rebounding

As the pandemic began to shut down public life, Manhattan saw heavy emigration of households seeking more space and more affordable housing outside the city. “In this first pandemic year, New York City has seen more out-migration than any other metropolitan area in the United States, with at least 160,000 households fleeing between March 2020 and February 2021, according to data provided by Melissa , which come from US Postal Service Address Change Records.

However, the trend is beginning to reverse. “The largest city in the United States still faces a difficult road with an overall declining population, low office return numbers threatening business survival and fear of crime cited as a deterrent to settling in the city”, wrote Sarah Holder in Bloomberg City Lab. “But as suburban housing prices soared and businesses reopened, data shared by Melissa shows that in the second year of the pandemic, migration out of Manhattan slowed and migration into the borough increased.”

Meanwhile, “a gradual return to office work, at least part-time, and the city’s enduring appeal as a global destination are setting some people back. A limited and increasingly expensive housing stock outside the city can also make it more difficult to leave. According to the article, “Of New York’s five boroughs, all but Staten Island and the Bronx gained new residents from the first year of the pandemic. Manhattan gained the most. With the suburban housing market of increasingly competitive, leaving town becomes less appealing.