Is the 6th Borough About to Boom?

NYT has been actively reporting on the population shifts amid the Coronavirus citing Philadelphia as the 3rd most popular mail forwarding region for former New Yorkers in the Month of April.

The cost of living in Philadelphia is more affordable than New York by 32%, a significant number considering most New Yorkers spend 65%+ of their income on rent and living expenses.

This trend has been in effect for years prior to COVID-19 and other events that may be the straw that breaks the New Yorker’s back. Census numbers show that New York has been losing population, not in waves, more in sprinkles, but the shift has been happening for years.

In a recent Bisnow article, Christopher Plant who runs MovetoPhilly.com said his website traffic has spiked 30% during COVID. A NYC->PHL transplant himself is a big advocate of making the move especially when evaluating quality of life pros and cons. A serial entrepreneur, Plant has opened 3 homegrown neighborhood focused co-working spaces called Kismet Cowork and the newly minted Radio Kismet a podcasting studio and event space in Spring Arts.