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Big Apple Sows Philly Area With New Residents – NBC10 Philadelphia

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People from out of town — whether they’re from New York, California, Chicago, or Florida — often bring higher salaries and higher budgets. As they do, house prices and rents are rising in Philadelphia and its suburbs, the Philadelphia Business Journal reports.

For example, the median adjusted gross income for people who moved from Manhattan to Montgomery County in the 2019 and 2020 tax return years was more than $198,000, according to census data. That was more than twice Montgomery County’s 2020 median household income of $94,000.

In all, new transplants from Manhattan and Brooklyn brought $455 million in annual income to the five-county region in those two years alone.

According to census data, more than 4,600 New Yorkers moved from New York County (Manhattan), Kings County (Brooklyn), or Queens County (Queens) to the five-county area of ​​Philadelphia in 2019 and 2020. That makes New York City the largest source of new residents in Philadelphia and each of its counties — Bucks, Chester, Delaware and Montgomery — outside the tristate area.

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