Philadelphia is the city New Yorkers want to move to most

New Yorkers fed up with sky-high housing costs are setting their sights on a new, but not far away, destination — Philadelphia. 

A new report from listings portal StreetEasy reveals that the City of Brotherly Love, just 90 minutes from New York, has officially surpassed Miami as the most popular out-of-state metro where New Yorkers are looking to move. That’s big, considering the Sunshine State — especially during and after the COVID-19 pandemic — drew in New Yorkers in droves, due to lower costs and open schools.

StreetEasy’s analysis of Zillow search data from 2024 found that a staggering one in three New Yorkers considering homeownership in the five boroughs is also exploring options beyond city limits. 

While Florida remains a strong contender — Miami, Tampa, and Orlando all made the top 10 list — Philadelphia’s lower cost of living and close cultural ties to New York are proving irresistible. That’s not to mention Philly’s winning food scene.

Kenny Lee, senior economist at StreetEasy and Zillow, noted that New Yorkers’ long-standing connection to Florida hasn’t waned, but shifting economic factors are influencing relocation patterns. 

“The snowbird cliché comes to mind. People have been going back and forth between New York City and Florida for quite some time,” Lee told CNBC Make It. 

But when it comes to affordability, Philly offers a serious advantage.

The median asking price for a home in Philadelphia sits at just $256,000, with average rent hovering around $1,700 — a steal compared to New York’s astronomical real estate market.

In Manhattan alone, according to Douglas Elliman’s numbers from the fourth quarter of 2024, the median sales price hit $1.1 million. Meanwhile, Elliman’s latest rental report shows Manhattan’s average rental price reached $5,130 in January.

“New Yorkers looking to move could be related to the overall affordability. The rental costs are much lower,” Lee said. 

Philly is home to several major employers, including Comcast Corporation and Toll Brothers, making it a practical option for those who want to relocate without sacrificing career opportunities. 

Still, homebuyers hoping to snag a deal might not find it so easy. 

“As one of Zillow’s hottest markets this year, the competition is heating up among buyers and potentially pushing some people to consider moving back to New York City,” Lee added. 

While Miami, now ranked No. 2, has traditionally been a top destination for relocating New Yorkers, some transplants find that the Florida dream doesn’t always live up to expectations. 

“Once some people move to Miami, they realize that the grass might not always be greener,” Lee said. 

Other cities making the list of top destinations include Atlanta, Boston, Washington DC and Los Angeles.