Bye-Bye, New York. Hello, Fayetteville.
It’s easier for small towns to develop the services and amenities to attract new talent than it is for New York City to build affordable housing.
Big dreams in smaller places.
Photographer: Dustin Chambers/Bloomberg
College graduates and more affluent residents are fleeing high-cost cities like New York and San Francisco, according to a recent New York Times article. Of course, major coastal cities have been pricing out the working class for a long time, but that’s picked up pace in recent years.
Lower-cost, large metros are benefiting from the migration — also a trend that’s been happening for a while. But a new twist we saw begin during the pandemic is that people are choosing to move to mid-sized and smaller places as well — metros with fewer than 1 million people.