NYC lost high earners and billions in income, with migrants reversing population decline: report
Fox News
New York City witnessed an outflow of tens of thousands of high-earning residents from 2017 through 2022 who took billions of dollars of income with them, although the Big Apple saw a population increase in 2023 and 2024 spurred on by an influx of migrants, according to a new report.
The Big Apple’s population started to decline in 2017 and then plummeted during the pandemic by nearly a half-million residents between April 2020 and July 2022, according to the report by the nonpartisan Citizens Budget Commission (CBC), based in Albany. Michael Dorgan is a writer for Fox News Digital and Fox Business.
The report notes that many of the transplants fled to Miami-Dade and Palm Beach counties in Florida, and the total amount of personal income to leave the state for Florida came in at $13.7 billion. You can send tips to michael.dorgan@fox.com and follow him on Twitter @M_Dorgan.
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