After years of headlines warning about New York City’s decline, new data tells a different story: the city is growing again—thanks largely to international migration.
A Global Boost for the Big Apple
According to the Citizens Budget Commission, while more people are still leaving NYC for other parts of the U.S., international newcomers have more than compensated for the difference. Over the past two years, this surge in global arrivals has pushed the city’s population back into growth mode. These new residents are doing more than filling the workforce; they’re driving demand for housing, public transit, and the 24/7 lifestyle that defines New York. It’s a strong sign that the city is regaining its rhythm.
The Florida Shift: Slowing Down?
Between 2017 and 2022, around 30,000 New Yorkers moved to Miami-Dade and Palm Beach counties, bringing with them over $9 billion in income. That exodus helped supercharge Florida’s luxury housing market, especially during the pandemic. But now, that trend seems to be tapering off. As NYC’s population rebounds, migration between the two states appears to be finding a new balance. This could mean a more stable real estate landscape in both regions—and a slight cooling of Florida’s overheated luxury sector.
What This Means for Housing
With more people coming to — or returning to — New York, demand for housing is holding strong, especially in well-connected neighborhoods with easy access to transit and daily amenities. Affordability remains a major challenge, but the focus has shifted. Instead of managing population loss, the city is now planning for growth—this time with an even more international flavor.
