New York Sees Exodus of Middle-Class Americans [Video]

New York is witnessing a significant exodus of its middle-class residents as rising living costs and housing affordability drive more people out of the state, according to a new study.

An analysis of U.S. census data by Hire A Helper highlighted the shifting dynamics of American migration patterns, revealing that middle-income earners are increasingly choosing to leave New York in search of more affordable living conditions.

According to the study, Americans in the bottom 20 percent of earners are 32 percent more likely to move than their top-earning counterparts. However, when it comes to interstate moves, the top 20 percent of earners—those making over $150,000 annually—are the most likely to relocate to a different state.

More From Newsweek Vault: Learn About the Best High-Yield Checking Accounts

Middle-income Americans have a mobility rate similar to that of lower earners, with approximately 9 percent of them moving in 2023. Yet, like higher earners, nearly one in five of those who moved …