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A pandemic migration is underway, at least for young adults aged 18 to 31 years.
This is according to a survey by Bankrate.com which found that 31% of people in this age group moved permanently or for a long period of time during the pandemic. This is compared to 16% of adults in general.
Gen Z – ranging from 18 to 24 years old – probably had the chance to move 32%. This was followed by millennials – 25 to 40 years old – with 26%.
Members of Gen X – 41 to 56 years old – and baby boomers – between 57 and 75 years old – were least likely to relocate, with 10% and 5% respectively.
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The main reason why people moved was to be closer to friends and family, mentioned by 31% of the respondents. This was followed by a cheaper existence, with 27%, or relocation for a job, 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 cities, they did not get far.
In the New York metro area, the five most popular places to relocate from Manhattan were less than 20 miles away, according to Bankrate’s analysis of data from the U.S. Postal Service.
Meanwhile, people who have left other cities, such as Austin, Dallas, Houston or Orlando, have chosen new home bases that are less than 30 miles away.
“It really seems like people are just leaving the densest neighborhoods to go to places where they might be able to get a little more money for their money,” said Bankrate reporter Zach Wichter.
Bankrate’s research comes from an online survey conducted in February that included 5,158 adults. They also analyzed the US Postal Service address change requests from 1 January to 31 December 2020.