10 U.S. cities New Yorkers are looking to move to

New York City is one of the most expensive American cities to live in, yet people from all around the world continue to flock there. The flux of people moving in and out of the city could be attributed to rising rent costs and work-from-home and digital nomad movements adding pressure to New York’s rental supply, according to local news organization The City.While several boroughs in the city have yet to bounce back from a downturn during the pandemic, Manhattan boasts a positive in-to-out-migration ratio.According to a Douglas Elliman report cited by The City, in June the average new lease in Manhattan was a whopping $5,470 monthly. A number that has likely contributed to the number of New Yorkers looking to relocate.According to a new StreetEasy report, many NYC residents want to escape the hustle and bustle and have set their sights on other popular — and likely more affordable — cities across the country.To rank the list of U.S. cities New Yorkers are most interested in moving to, StreetEasy tallied up Zillow page views of home listings, grouped by the metropolitan statistical area of the listing, and the apparent location (estimated at the city level) of the user, whether on Zillow apps or websites.Los Angeles is the only California city to make StreetEasy’s list, while Florida had three cities rank in the top 10, including Tampa and Orlando.The No. 1 U.S. city New Yorkers are moving to: Miami, FloridaMiami’s popularity among New Yorkers continues to rise and the Florida city landed the top spot of cities residents are thinking about relocating to.Costs in Manhattan are about 137% higher than the United States average, according to a June SmartAsset study, while living expenses in Miami are closer to 23% higher than the country’s average. Florida has no state income tax.Miami has attracted several tech and finance companies, including Elliot Management and Goldman Sachs. The city is known for its amazing beaches and prominent neighborhoods like South Beach, Ocean Drive, Little Havana, and the nearby Everglades.Miami, Florida is the no. 1 city New Yorkers are looking to move to, according to StreetEasy.Alexander Spatari | Moment | Getty ImagesTop 10 U.S. cities New Yorkers are moving toMiami, Fla.Philadelphia, Pa.Stamford, Conn.Atlanta, Ga.Tampa, Fla.Boston, Mass.Orlando, Fla.Los Angeles, Calif.Washington D.C.East Stroudsburg, Pa. (the Poconos)Philadelphia ranked second on the list. According to census data, more than 4,600 New Yorkers moved from New York County (Manhattan), Kings County (Brooklyn), or Queens County (Queens) to the five-county Philadelphia area in 2019 and 2020.The average rent in New York City is $3,750, while the average rent in Philadelphia is $1,609, according to Zillow.The Pennsylvania city is home to several Fortune 500 companies, including Comcast Corporation, Toll Brothers, and Burlington Stores.Philadelphia is the no. 2 city where New Yorkers are looking to move, according to StreetEasy.Sean Pavone | Istock | Getty ImagesStamford, Connecticut, came in third. Just like Philadelphia, it’s just a few hours away from New York City.In 2022, Connecticut Governor Ned Lamont told Bloomberg that according to data from the U.S. Postal Service, the 50,000 people who left New York City for Connecticut during the pandemic are staying and buying homes in the state.Stamford is the second-most popular city in Connecticut, and as of 2023, it’s home to eight Fortune 500 companies, including Charter Communications and Cigna. It is considered the most significant financial district outside New York City, according to the city’s Chamber of Commerce.Stamford, Connecticut is just 34 miles away from New York City.Halbergman | Istock | Getty ImagesDON’T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter!Get CNBC’s free Warren Buffett Guide to Investing, which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.

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