NYC Population Drops 12,000 in 2025 Amid Tighter Immigration and High Rents - News and Statistics - New York News Beep

May 4, 2026

The population of New York City declined in 2025, losing a net of approximately 12,000 residents, according to an April 20 report from the Citizens Budget Commission cited by real estate professionals Dolly and Jenny Lenz on a Fox Business program. This drop follows two years of strong post-pandemic growth, when the city gained 70,000 people in 2023 and 163,000 in 2024, largely due to increased immigration and asylum seekers.

The report noted that in 2025 the trend reversed as tighter immigration policies reduced international in-migration by 70 percent while domestic out-migration increased. Overall, the city lost a net 114,000 residents to other parts of the United States, up from 94,000 the prior year but still far below the pandemic-era peak net outflow of 330,000 in 2021. Most people who left relocated to nearby areas such as Long Island, Westchester, New Jersey, Connecticut, and Pennsylvania.

The report observed that the city has long attracted talent and opportunity, but recent shifts in migration—driven by the pandemic, immigration policy, affordability, taxes, and quality of life issues—point to a future that may not mirror past growth. Housing and public services were cited as major factors influencing residents’ decisions to move to, stay in, or leave New York City.

Median asking rent rose nearly 7 percent in 2025 to $3,585, according to Realtor.com. In the first quarter of 2026, the median asking rent reached $3,616, requiring an annual income of about $145,000 to meet standard affordability benchmarks. The city’s median household income is approximately $85,549. An economist from Realtor.com noted that rent-burdened households are leaving the city, as high rents and unaffordable homeownership leave residents with few options, and that for many, leaving is the only rational response.

The population shift coincides with the election of Mayor Zohran Mamdani, whose campaign included a proposed rent freeze—a policy some economists warn could further reduce housing turnover.

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