State Watch

44 percent of high earners have considered leaving New York City: poll

Forty-four percent of New York City’s highest earners said in a new poll that they considered leaving the city in the past four months.

The Manhattan Institute commissioned the Siena College Research Institute for a poll of New York City residents who earn at least $100,000 per year that found 44 percent said they have considered moving out of the city, and 37 percent said it is at least somewhat likely they will not be living in the city two years from now. 

Most of the respondents who said they were considering leaving the Big Apple, 69 percent, cited its cost of living as a reason for leaving. Almost eight in 10 Hispanic respondents who said they had considered moving listed high costs as a reason, as did 77 percent of Black respondents.

Crime was mentioned by 47 percent of respondents who said they might not stay, a desire for a non-urban lifestyle by 46 percent and the ability to work from home by 30 percent. 

The results also were split by age, with 76 percent of those 65 and older saying they have not considered moving out, compared to 49 percent of those aged 18 to 44 who agreed. Similarly, 72 percent of respondents aged 65 and older said it is “not very” or “not at all” likely they will leave the city, while 55 percent from 18 to 44 said the same.

The poll of 782 adults was conducted between July 13 and Aug. 3. The margin of error amounted to 4 percentage points. 

The Manhattan Institute noted that residents who make $100,000 or more account for 80 percent New York City’s income-tax revenue, and 22 percent of the city’s overall tax revenue.

The poll comes as several reports have circulated speculating that New York City residents who make the most money are considering leaving due to the higher taxes on the wealthy. 

Gov. Andrew Cuomo (D) has worried that wealthy individuals won’t return to the city from surrounding suburbs, leading him to reject a billionaire’s tax promoted by state legislators this summer.

Tags Andrew Cuomo cost of living Income tax New York New York City poll Tax revenue working from home

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