A recently published study by commercial real estate firm CBRE took a look at national relocations during 2020, and a write-up by Patch breaks down the numbers on the Upper West Side.
While about 32,000 people left the neighborhood, almost 23,000 actually moved in. This represents a net loss of about 9,500 people. While there are always people coming and going, Patch points out that 2019 saw a smaller net loss of just 3,300 people.
Here are 2020 stats for each Upper West Side zip code:
- 10023: 10,808 people moved out – 7,996 moved in [net loss of 2,807 people, or 29 per 1,000 residents]
- 10024: 8,471 people moved out – 5,711 moved in [net loss of 2,760 people, or 33 per 1,000 residents]
- 10025: 11,467 moved out – 7,685 moved in [net loss of 3,782 people, or 23 per 1,000 residents]
- 10069: 1,437 moved out – 1,288 moved in [net loss of 149, or 11 per 1,000 people]
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According to Patch, 10025 saw the largest net-loss in NYC, and the sixth largest in New York State – “one of a handful of ZIP codes that saw more than 10,000 move-outs during 2020.”
NYC as a whole saw the second largest net-loss in the country, just after San Francisco.
“The movement of people from high-density, high-cost places to low-cost ones is certainly not unique to the COVID era. In 2020, though, the magnitude of this trend is especially striking. Address changes out of dense zip codes was the norm across all U.S. regions,” the report from CBRE states.
Per Gothamist, Upper West Side zip codes were included in the ten areas with the highest move-out rates in NYC. Other zip codes within this list were located in Hell’s Kitchen and on the Upper East Side. Gothamist also states that a significant number of residents left the Brooklyn neighborhoods of Greenpoint, Dumbo and Crown Heights, “… gentrified neighborhoods, where a new crop of young professionals could afford to easily uproot during the pandemic,” according to Eric Willett of CBRE.
It sure looks like the geniuses in the NYS legislature, our mayor (who thankfully will soon have to find some other position at the public trough) and in our City Council, fresh off of claiming to be driven by science and the numbers in contrast to he whose name shall not be uttered, have themselves ignored the facts and decided to bolster the tax rates of the very people who pay most of the tax revenue collected in NY, and encourage even more of them to leave. Most people only care about their own tax obligations, and not so much if someone else will be required to pay, but you can see the handwriting on the wall as to what will happen when the group that pays the most is depleted — and then the rest of us will step into their shoes as the big payers. We have just shot the goose that lays the golden egg. So are we happy that we have elected representatives who exercise no independent judgment and are simply incapable of recognizing that they have limited resources and need to restrain their spending? So instead they decimate our main revenue source which we have been lucky to have until now. Geniuses.
This post would be useful and more accurate in its alarming claims if the populations (and % lost) of each of the four zip codes discussed were provided. Some Context.
I agree. A loss of 1,000 people out of a population of 10,000 (10%) would be much more devastating and meaningful than a loss of 1,000 our of a population of 100,000 (1%).
It would be very helpful to know how may of these were renters and how many were owners.
Curious how that is helpful information? Renter or owner, the reasons for leaving are likely quite similar.
10025 is just south of Columbia, and probably reflects students leaving.
I’m sure 2021 will show old or new people filling all the vacancies. Fewer Wall-Streeters, I hope.
I’m represented in data for two zip codes – left 10023 during the Pandemic and moved to 10069 to a larger apartment 🙂 Not surprised the net loss is lower in 10069. A small zip code and we found a good deal on a rental. With work from home for a good number of people, being this far west from the Subway is less of a downside and the paths along the River and recently opened new park and playground are big perks.
10025 (the highest in the UWS) is the Columbia students …..
So.
Glad people could leave and give us some breathing room. I already miss the quieter streets and empty stores. Everyday was like an early Sunday Morning and it was a lovely break from the usual frenetic UWS. I live one week away one week in the city… it’s been a blessing with zoom. I can be anywhere and work. Love it!!