Millennials are leaving New York – learn why
The urban jungle, the cultural cocktail, the Big Apple, the city that never sleeps. New York is a place of many names and even more stories. People flock to it in hopes of fulfilling their dreams. Nonetheless, they are welcomed with unforgiving tempo and constant competition. However, many young entrepreneurs often thrive and describe New York as a truly unique place, worth the fight. And when you truly look around, hard work is always required. Still, besides all the lights and beauty this city has to offer, millennials are leaving New York. The following text will go in depth about the most common reasons for them doing so.
The main reason why millennials are leaving New York
It is no secret that the Big Apple is a rather pricey place for living. This is best seen through the cost of housing. Upon arriving in the city, millennials need to face the harsh truth: only the well-situated can afford the cost of the commodity and good location. So, you are presented with a choice – either you live in a shack, or you find a roommate. Most, as one would suppose, choose the latter. Still, even with this adjustment, that’s not where the challenges end. You see, the median wage has increased by 1.8% in the last decade. However, the rent went up twice as much over the same period. To simplify the math:
- Rent growth is considerably faster than income growth
- The lowest-priced rents are the ones who have increased the most
- People who ear the least got the smallest paycheck raises
You can see how this can turn into a major issue for anyone trying to make ends meet. Consequently, millennials are leaving New York. We bet that even you would choose to hire long distance movers Manhattan you can trust and try to find a place with better prospects.
Living above their means
Having to grow up in hectic times failed to teach millennials how to handle money. Most are quite lost when it comes to real-life math. If you ever come across anyone from those generations, you know what we mean. This lack of financial education left a noticeable mark. Millennials quite often make the mistake of living above their means. While this can be acceptable in other cities, New York is the kind of place to make you pay for every mistake. There is this aspiration of owning a home that runs high among the generation, in spite of budgeting constraints and rising housing costs. So, a millennial a buy or rent a place he or she simply cannot afford and then struggle months on end until they realize it is useless.
Maintaining a certain image
However ridiculous it may seem, living in New York implies a certain lifestyle. It is highly likely that the millennials have put this upon themselves. Still, the issue persists. You simply have to start your day with a quality cup of coffee, followed by an expensive brunch and a taxi ride home. In addition, people expect that you live such a life in an effortless fashion. In your 20s, and not a CEO? You have failed. Although abundant with job opportunities, it seems like New York only loves the bosses. And not everyone can have that job or its’ paycheck. This creates a huge pressure for aspiring young individuals. It’s like being chased by a dog every single day. Everyone expects you to succeed in record time, all the while making it look effortless. And, let’s face it, one cannot be a go-getter every single day. Although it is easy to find office movers Manhattan, it’s not so easy to find an office that will welcome you with open arms and a high salary. It’s no wonder the saying goes ”If you can make it here, you can make it anywhere”. New York makes you work hard just to be average, let alone in the top niche.
Everything has a price
And this stands for more than the food and the rent. Although exceptionally high, costs of living are just the first line of difficulties. Just as you start working your third job, you start to realize that you have virtually no time left for anything else. Due to the lack of time, you will inevitably lose some of your closest relationships. Everyone going through those first couples of years of adjustment is facing this bitter situation. You must decide what goes first and what can be sacrificed for that greater good. The pace of life is relentless, and the anxiety will get you sooner or later. If you plan on calling New York your home, you must be ready to face the pressure.
The advantages of the West Coast
Since most ex-New Yorkers choose the West Coast for their new home, we will address its virtues:
- You have more living space. Apartments are small in NYC and those with lower rents have a poor view, to say the least.
- If you plan on raising a family, know that New York is not too family-friendly. LA is has a calmer and safer environment.
- It is no secret that the Big Apple is not the cleanest city. With so many residents, it’s no wonder. Millennials are leaving New York in a search of cleaner living conditions.
- As you move away from this jungle, you will feel the tension and existential anxiety slowly crawling away.
- West Coast has predictably good weather, unlike the harsh winters and scorching summers of the NYC.
- Besides all the great weather, you have an abundance of outdoor activities to choose from, all in the proximity to nature.
Millennials are leaving New York – are you?
Hopefully, you get an idea of why Millennials are leaving New York. And who knows, maybe you will choose some other place for living. Either that, either you will try to change that statistic. Whatever you choose, we wish you luck!