Influx of New Yorkers to Delaware County Raises Bar for Home Prices

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New York has emerged as the source of most new residents in Delaware County.

Over the past several years, New York City has emerged as the largest source of new residents in Delaware County outside of the tri-state area, writes Ryan Mulligan for the Philadelphia Business Journal.

This is true for the entire region. People from more expensive markets, especially New York City, have been flocking to Philadelphia and its collar counties due to the affordability, walkability, and space. The start of the COVID-19 pandemic and the shift to remote work has only served to expedite the process.

In 2019 and 2020, Delaware County recorded 12,820 new tax filers from outside the tristate area. The total adjusted gross income they brought to the county is slightly more than $1 million, or an average of $85,605 per filer.

During that time, the average adjusted gross income for people relocating to the county from Manhattan was over $198,000. Meanwhile, Delaware County’s median household income in 2020 was $76,238.

This has affected median home values in Delaware County, pushing them up by five percent between January 2021 and July 2022.

Meanwhile, New York City saw its population decrease by 305,500 between July 2020 and July 2021.

Read more about the influx of new residents in the Philadelphia Business Journal.

Here is an NBC 10 report from October 2021 about the trend of New Yorkers moving to the Philadelphia suburbs.

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