The Big Apple, the city that never sleeps, the urban jungle. New York has so many names, as well as the stories. People from all around the world come here, hoping to fulfill dreams. But, they meet unforgiving tempo and constant competition. Still, many young businesspeople usually thrive and describe New York City as a unique place that is worth the fight. And, once you look around, hard work is always required. However, besides the city beauty and lights, young people are leaving. About one-third of New York residents plan to move in the next year. And this article will go through some of the most common reasons why are young people leaving New York City.
Approximately 40% of citizens claim that NYC is unaffordable. And that’s a fact; they pay more for housing than average Americans. Why are young people leaving New York City, and are they just a part of the higher emigration? Where do they choose to go? But, one thing is for sure, no matter how many people decide to leave NYC, more will come to try their luck. And they should learn how to save money on your NYC move.
The main reason why are young people leaving New York City
Everyone knows that NYC is a very pricey place for living. The best way to see it is through the cost of housing. Once young people move to the city, they need to face the harsh truth. Only well-situated can afford the cost of housing and good location. Therefore, you have to make a choice. Either you’ll live in a shack, or you’ll find a roommate. As you can guess, many people choose the last. But, even with this adjustment, that’s not where the challenges end. The median salary increased in the previous decade, but the rent went up twice as much in the same period. To make sure you understand it:
- Rent is growing faster than income
- Leases that have the lowest price are the ones who have increased the most
- People that earn the least have the smallest paycheck raises
This can be a huge issue for anyone trying to make ends meet. This is one of the reasons why our young people are leaving New York City. They choose to hire DA Moving NYC and try to find a place with better prospects. Who can criticize them?
Life above means
Growing up in hectic times didn’t teach young people how to handle money. Many of them are wholly lost when it comes to real-life math. And the loss of financial education left a notable mark. Young people usually make the mistake of living beyond their means. This may be acceptable in other cities, but NYC is the sort of place where you’ll pay for every mistake. There is this goal of having a home that runs high among the generation, despite budgeting constraints and rising housing costs. So, young people buy or rent a place he or she can’t simply afford and struggle months until they realize it’s useless. Some of them may end up moving to different cities in New York state.
In NYC, everything has a price, and this stands for more than the food and the rent. Abnormally high costs of living are not just the first line of difficulties. When you start working your third job, you’ll realize that you’ve virtually no time for anything else. With the lack of time, you’ll surely lose some of your closest relationships. Everyone goes through this in the first couple of years of adjustment. So, before you move here, decide what goes first and what can be sacrificed. The life pace is relentless, and the anxiety will surely get you. Be ready to face the pressure if you want to call New York your home. And make sure you learn some things to keep in mind while looking for an apartment.
Keeping a certain image
No matter how ridiculous it may seem, living in New York means a particular lifestyle. Likely young people have put this upon themselves. However, the problem remains. Naturally, you have to start your day with a quality cup of coffee, accompanied by an expensive brunch and a taxi ride. Plus, people expect that you live such a life. If you are in your twenties and you’re not a chief executive director, you have failed. You can begin researching which kind of boxes are the best and start working on your relocation as soon as you can.
Even though NYC is abundant with job opportunities, it seems like it only loves the bosses. And, of course, not everyone can have that job. This causes pressure for seeking young people. Because everyone expects you to succeed in a short time while making it look effortless, but, let’s face it; no one can be a go-getter every single day. So, the saying If you can make it here, you can make it anywhere is real. NYC makes you work hard to be an average.
The West Coast benefits
Many people leave New York and move to the West Coast. Here are some reasons why:
- People there have more living space. In NYC, apartments are small and have a poor view.
- New York is not too family-friendly. Keep that in mind if you plan to raise a family. And Los Angeles has a more peaceful and safer environment.
- Big Apple is not exactly the cleanest city.
- Owning a car in New York is literally impossible.
- Moving away from NYC will reduce tension and existential anxiety.
- Unlike the harsh winters and hot summers of the NYC, West Coast has pretty good weather.
Why are young people leaving New York City – are you?
Hopefully, after reading this article, you get an idea of why are young people leaving New York City. And, perhaps you will choose some other place for living. Or you will try to change that statistic. The decision is yours, good luck.