According to a migration study from Placer.ai, Manhattan now has more residents than it did pre-pandemic — with a nearly 4% population hike since January 2018.
Manhattan has more than recovered since its population dipped in the early days of COVID-19, according toFrom February to April 2020, the borough’s population dropped 8.1% — threatening its status as a major world economic and cultural hub.
Newcomers drove rents higher, too. Manhattan’s median reached $4,200 in November, up 24% from 2021, according to Corcoran tallies. Sales prices cooled 8% from the third to fourth quarters, with the median falling slightly to $1.1 million, the brokerage also reported.Gramercy and the East Village also proved to be popular destinations.Authors of the report say the speedy recovery is a testament to the city’s resilience in times of crisis.
Indeed, the boroughs are still a little sleepy. Brooklyn has pockets of revival, but they’re yet to experience Manhattan’s influx overall. Between January 2018 and October 2022, populations dropped 4.5% in The Bronx, 4.6% in Brooklyn, 5.8% in Queens and a higher 7.1% in Staten Island, the report found.Trendy Williamsburg also saw an influx of new residents in that same span of time.
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