New York leads US in Gen Z exodus as young adults seek cheaper housing

New York City experienced the most significant net departure of Generation Z adults in 2024, with 29,554 young people moving away, as per a Redfin analysis of Census Bureau data. This exodus does not necessarily indicate a relocation away from major cities, as many Gen Z adults are making relatively short moves to neighboring metropolitan areas. This allows them to maintain social and professional connections while searching for more affordable housing and job prospects.

One prominent example of this trend is the New York-Philadelphia corridor, where 9,284 Gen Z adults migrated to Philadelphia in 2024, ranking second in popularity for the generation. This move is accompanied by a substantial difference in housing costs, with a typical home in the New York metro area priced at approximately $832,000, whereas Philadelphia homes sell for around $309,000 on average, according to Redfin.

The most popular Gen Z migration route in 2024 was from Los Angeles to Riverside, California, with 10,261 individuals making the approximately 60-mile journey. Other notable routes included Los Angeles to San Diego, attracting 9,237 Gen Z movers, and San Antonio, which recorded the largest net gain of Gen Z movers at 10,678.

In contrast, Texas emerged as the top destination for millennials in 2024, with three cities—San Antonio, Austin, and Dallas—collectively welcoming a net inflow of 26,212 millennials. The analysis also revealed that millennials tend to prioritize locations with more affordable housing options, as reflected in the median home-sale prices in their top destinations, which were all below $450,000.