What Does the COVID-19 Exodus Mean for Large Cities and Counties?

For decades, many large U.S. metropolitan cities have seen their rental markets reach new heights with sky-high rents and shortage of living spaces – however, all of which came to a screeching halt during 2020.

Initially thought to be short term, work-from-home directives became the new norm. With this new reality, increasingly more large cities are seeing young professionals leaving for mid-to-small sized cities throughout the U.S. – creating vacancies and driving down the rent prices in larger metropolises like NYC and San Francisco . On the contrary, the flight of population from large cities can be a worrying sign for local and regional governments, as much of their finances depend on the flourishing real estate markets and consumer spending.

In this article, we will take a closer look at a few of the large metropolitan cities and how the COVID-19-related migration may impact their fiscal positions.

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dividend.com

Mar 17, 2021



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