Cities with The Largest Population Booms Amidst the Pandemic
The coronavirus is shaping more than just how or where we work; it influences how we live our everyday lives, including where we physically live. Thousands of Americans are relocating to seek better opportunities, lower costs of living, and improve their quality of life. So, where are these “pandemic birds” flocking during these challenging times? Here are the cities with the largest population booms amidst the pandemic.
Cities with significant population influxes
People nationwide have been relocating as many are now working remotely (and likely will continue to do so permanently). People are escaping expensive, crowded cities and opting to move to states with lower taxes, cheaper overall costs of living, and more enjoyable lifestyles. For example, people are fleeing crazy-expensive Silicon Valley to other areas that offer a better quality of life.
States with the most significant population influxes over the last few months are Florida and Texas. According to new Census data, Florida has added 241,256 new residents while Texas has welcomed nearly 374,000 new citizens. It’s essential to note that this data spans from July 2019 to July 2020. Therefore, the pandemic is not entirely causing this surge. However, it is too early to tell how much the virus has impacted this migration, but it unquestionably has played a part.
According to LinkedIn data, the top five locations with inflows of new residents (with their cost-of-living ranking) are as follows:
- Austin (77)
- Phoenix (76)
- Nashville (121)
- Tampa (107)
- Jacksonville (196)
And the cities with the most significant outflows in 2020? They are Hartford, New York City, San Francisco Bay Area, Chicago, and Cleveland – which are large, expensive metropolitan areas. California’s Silicon Valley, which is notorious for its tech and startup companies, has had two years in a row where more people left the state than moved there.
What are the industries relocating during the pandemic?
The most notable industries making a move during the pandemic are tech companies, finance firms, and other corporations. For example, Elon Musk announced he is departing California and moving to Austin, where he is planning on building a new factory for Tesla. Other entrepreneurs and tech leaders are following suit.
According to Bloomberg, “Big employers are also relocating. Software giant Oracle Corp. has moved its headquarters to Austin, and computer maker Hewlett Packard Enterprise Co. is shifting its headquarters to Houston. Goldman Sachs Group Inc. is considering opening a new Florida hub, and the head of Moelis & Co. has said his bankers can pack up and go where they please.”
This migration will be an exciting trend to watch this year as more companies announce a relocation. If you are considering a move to one of these booming ecosystems, visit our job board for the latest opportunities across the country. And if you are one of these employers making this transition, let’s have a conversation to see how JSG can fit into your new hiring strategy in 2021.