Friday, October 18th, 2019 October18th2019

Sell for More Trivia: Which U.S. city is losing more people than any other city?

Published on October 18th, 2019

Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.

 

New York City leads all U.S. metro areas as the largest net loser with 277 people moving every day…more than double the net exodus of 132 people just one year ago.

Los Angeles and Chicago were next with daily losses of 201 and 161 residents, respectively.  This is according to 2018 Census data on migration flows to the 100 largest U.S. metropolitan areas compiled by Bloomberg News.

At the other end of the spectrum, seven cities averaged more than 100 new arrivals every day.  Dallas, Phoenix, Tampa, Orlando, Atlanta, Las Vegas and Austin saw substantial inflows from both domestic and international migration.

Sun Belt cities Houston and Miami claimed the 8th and 9th spots in the ranking. Seattle was the only cold-weather destination among the top 10.

While New York City is experiencing the biggest exodus, the blow is being softened by international migrant inflows.  From July 2017 to July 2018, close to 200,000 New Yorkers sought a new life outside the Big Apple while the area welcomed almost 100,000 international migrants.

The second most attractive locale for international migrants was Miami with an addition of 93,000…followed by Los Angeles, Houston, Boston and the nation’s capital, Washington D.C.

Phoenix passed Dallas as the greatest beneficiary of domestic migration, adding more than 62,000 residents between July 2017 to July 2018.

Some areas are affected by high home prices and local taxes, which are pushing residents out and deterring potential movers from other parts of the country.  As mentioned, about 200,000 residents left New York last year.   Los Angeles had a decline of nearly 120,000 and Chicago fell by 84,000. Miami, Washington D.C., San Francisco and San Jose experienced similar trends.  In Connecticut’s Hartford, Bridgeport and New Haven areas, close to 20,000 residents left last year.

Data on migration flows are essential for understanding localized growth of everything from employment, real estate trends and retail development to government infrastructure and environmental shocks.

 


Estimate how much your property is worth, for free, before you list it for sale.  Plus get the step-by-step blueprint to sell your property for the highest price the market will pay (click here)


How to get an unfair advantage.  Click here to join Sell for More Club today.


Pop the champagne.  Our clients celebrate when their sale closes…and we supply the champagne.  Click here to schedule a no pressure call to get started.


About Beau Beach, CCIM

Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.

Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee, South Florida and Chicago markets.

He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.

Beau can be reached at 800-721-3287, click to schedule a call or Beau@BeachwoodSells.com