Don’t call it back.
Manhattan has greater than improved since its population declined on the onset of COVID-19, in keeping with Manhattan records recent study on post-pandemic migration from Placer.ai.
From February to April 2020, the municipality’s population decreased by 8.1%, threatening its status as a serious global economic and cultural center.
But as New Yorkers learn time and time again, the Big Apple should never be underestimated. Manhattan now has more residents than it did before the pandemic, with a virtually 4% population increase from January 2018 to October 2022.
New arrivals have also raised their rents. Manhattan’s median hit $4,200 in November, up 24% over 2021, in keeping with data from Corcoran. Selling prices fell 8% from the third to fourth quarters, with the median falling barely to $1.1 million, the brokerage also said.
The authors of the report say that the rapid recovery is a testament to the town’s resilience in times of crisis.
“The revival of NYC retail and offices is a testament to the unique environment that may only be found there,” said Ethan Chernofsky, vice chairman of selling at Placer.ai. “While there are areas which have been hit harder, it’s hard to assume a scenario where there’s not an equally strong recovery over time.”
Indeed, the communes are still a bit sleepy. Brooklyn has had periods of resurgence, but overall, they’ve yet to experience the influx of Manhattan. According to the report, between January 2018 and October 2022, the population decreased by 4.5% within the Bronx, 4.6% in Brooklyn, 5.8% in Queens and seven.1% more in Staten Island.
So which Manhattan neighborhoods are the most popular in our recent post-pandemic normal? At the highest of the list is the Upper West Side, where the population increased by 30% between November 2019 and October 2022. Next are East Village/Gramercy and the City Hall area, all hovering around 25% at the identical time . time span.
In Brooklyn, while a lot of the southern a part of the borough continues to be in decline, Coney Island’s population has grown 6% in that just about three-year period.
Not surprisingly, the perfect Downtown Brooklyn and Williamsburg are right behind with around 5% and three% respectively. Places like Prospect Heights, Bed-Stuy and Greenpoint, which are usually not as trendy but still inside walking distance of Manhattan, are growing at around 2%.
