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A pandemic migration has been underway, at least for young adults between the ages of 18 and 31.
According to a Bankrate.com poll, which found that 31% of people in that age cohort moved either permanently or for an extended period of time during the pandemic. This is compared to 16% of adults in general.
The Z-type – aged between 18 and 24 – was most likely to raise stakes, with 32% moving. It was followed by millennials – aged between 25 and 40 – at 26%.
Gen X members – aged 41 to 56 – and baby boomers – aged 57 to 75 – were least likely to move, with 10% and 5% moving, respectively.
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The main reason why people moved was to be closer to friends and family, which was cited by 31% of respondents. This was followed by a more affordable living, with 27%, or moving to a job, with 21%.
Others were motivated by opportunities for more space, 18%; different climates, 17%; or the ability to work from anywhere, 17%.
While many of the respondents left the cities, they did not go too far.
In the New York subway area, three of Manhattan’s five most popular places to move were less than 15 miles away, according to Bankrate’s analysis of the U.S. Postal Service.
Meanwhile, people who have left other cities, such as Austin, Dallas, Houston or Orlando, have chosen most of their new home bases, which are less than 30 miles away.
“It seems like people are barely leaving the densest neighborhoods to go to places where they could get a little more for their money,” said Zach Wichter, a mortgage and real estate reporter at Bankrate.
Bankrate’s research came from an online survey conducted in February that included 5,158 adults. They also considered requests to change the address of the US Postal Service from 1 January to 31 December 2020.