More than 70,000 people leave NY, but Rochester housing market remains stable

Patrick Moussignac
Created: January 31, 2020 06:01 PM

ROCHESTER, N.Y. (WHEC) — New York State is losing thousands of people each year, and now state leaders are taking a closer look at why New Yorkers are choosing to live elsewhere. 

That's according to a report released by the U.S. Census Bureau.

Meanwhile, here in the Rochester area some realtors say despite the report it's a seller's market.

The census report shows more than 76,000 New Yorkers left the state last year. For two years in a row now, New York lost more people than any other state in the nation. 

If you ask any New Yorker that's left the state, or plans on leaving the state why they don't want to live in New York anymore, you'll pretty much get the same answers. 

Most people who answered News10NBC's Facebook poll blame high taxes. Others like former resident Kurtis Archer and his family had enough of the brutal winters.

"Rochester was very "Gotham City-ish," Archer said. “Gray skies, and they're were looking for more warm climates with a little bit more sun. Not have to worry about shoveling driveways."

The report comes at the same time local realtors point to some positive news. More existing homes were sold in Rochester in 2019 than in 2018. Albeit by just one.

Andy Kachalo, 2020 President of The Greater Rochester Association of Realtors said, "If people are leaving New York they may not be home buyers. Sellers ma ybe leaving but the buyers are still here, and they're either coming in from out of state, or they're, cause there is no shortage of buyers." 

According to the U.S. Census Bureau, since 2010 the state has lost 1.4 million people overall. Rick Herman, CEO of The Rochester Homebuilder's Association points out one demographic.

"I think a lot of those folks are probably, are some of the baby boomers that have been paying the high taxes, and regulations that we have here in New York State," Herman said.

Realtors say millennials are moving into the city. Lots of them taking up residence in Downtown Rochester where over 90% of homes and apartments are rentals.

Herman concludes, "We have a good market. We do have some challenges, but it is a good market."

Kachalo agrees, "If you're a buyer I would expect heavy, heavy competition starting today. It's hot out there right now. If you're a seller coming in on the market I would say prepare, prepare, prepare."

As for Archer, he will only move back to Rochester for one reason. 

"Hypothetically if my company said, hey we'll triple your salary if you move to Rochester. Maybe it would be something that I would consider," Archer said.

The U.S. Census Bureau's report says New York is ranked fourth behind West Virginia in the yearly loss of its state population.


Copyright 2020 - WHEC-TV, LLC A Hubbard Broadcasting Company

Comment on Facebook