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  1. #1
    Senior Member JohnDoe2's Avatar
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    Bucking trend, more people move to New York City than leave

    Bucking trend, more people move to New York City than leave

    (Reuters) - For the first time in at least 60 years, more people moved to New York City in 2012 than left it, swelling the city's estimated population to an all-time high of 8,336,697, Mayor Michael Bloomberg said on Thursday.

    All five of the city's boroughs gained residents, Bloomberg said, using the latest estimates from the U.S. Census Bureau.

    Some 12,200 more people moved into the city than left, with most of the migration coming from abroad.

    Previous population increases have been as a result of a surplus of births in the city. There were also more births than deaths in New York City in 2012.

    The net influx was the first seen in the city since at least 1950, when the Census Bureau changed its methodology and made it possible to calculate the number of people moving into and out of New York, city officials said.

    The city's population in 2012 increased by 2 percent from the 8,175,133 people recorded in the 2010 census. However, the city disputed those numbers, saying they were an underestimate. The city's appeal to the Census Bureau was unsuccessful.

    "We have many indicators of quality of life in the city - record low crime, record high tourism, record high life expectancy, record high graduation rates, record job growth and more - but there's no better indication of the strength of our city than a record high population and a net population influx," Bloomberg said in a statement.

    "People are voting with their feet."

    Bucking trend, more people move to New York City than leave | Reuters
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    Senior Member JohnDoe2's Avatar
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  3. #3
    Senior Member JohnDoe2's Avatar
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    New York City
    Once they are no longer tied to a job in the New York City area, one of the first things some retirees do is leave town in search of more space, less traffic, and a lower cost of living. Many retirees also seek better weather than New York's often cold and snowy winters. You'll certainly leave behind the ability to see Broadway shows or have food delivered at 3 a.m. But you'll also avoid rents that run over $900 per month, mortgage payments that exceed $2,200, and the possibility of needing long-term care in Manhattan, which costs a median of $4,500 monthly at an assisted living facility. If you instead sold your New York-area home and moved somewhere more affordable, you could potentially buy a bigger property for less money and use the extra cash to pad your retirement savings. "If you are a city dweller, you are not used to driving everywhere, and there are a lot of services in cities. But there are also very high costs in a big city," says Karen Altfest, a certified financial planner and principal advisor for Altfest Personal Wealth Management in New York. "A lot of our clients have made themselves residents of Florida or other states because they can save a lot on taxes and the cost of living." But you might want to stick around for the medical care. New York has three of the top 10 hospitals in the country for geriatrics: Mount Sinai Medical Center, Hospital for Special Surgery, and NYU Langone Medical Center.
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